Income Tax News
India's Rs 100 Crore Income Filers Jump 4X in 5 Years, Reach 576 in AY 2025-26
28 July 2026 at 10:37The number of Indians reporting income above Rs 100 crore rose from 142 to 576 in five years. Here's what the latest government data reveals about wealth creation in India.
No Change in MSME Payment Compliance: Government Defends Section 43B(h) in Parliament
28 July 2026 at 09:37The Finance Ministry has clarified in Rajya Sabha that Section 43B(h) links tax deduction claims to timely payments made to micro and small enterprises, aiming to improve MSME cash flow and working capital availability.
CBDT Extends Tax Exemption Benefits to Maharashtra Fees Regulating Authority Under Section 10(46)
28 July 2026 at 09:29CBDT has notified Maharashtra's Fees Regulating Authority under Section 10(46), exempting specified income including processing fees, government grants, and interest income for AY 2022-23 to AY 2026-27, subject to prescribed conditions.
CBDT Notifies ITR-BN Under Income Tax Rules 2026 for Block Assessment Cases
27 July 2026 at 09:29CBDT has notified ITR-BN through the Income Tax (Third Amendment) Rules, 2026 for block assessment cases arising from search and requisition proceedings under the Income Tax Act, 2025. Know the key details.
FM Sitharaman Calls for Greater Tax Certainty and Reduced Litigation at 167th Income Tax Day Celebration
25 July 2026 at 09:21Finance Minister Nirmala Sitharaman outlined the 5Rs of Responsive Tax Governance at the 167th Income Tax Day celebrations, emphasizing tax certainty, reduced litigation, taxpayer-centric reforms, and the transformative impact of the Income-tax Act, 2025.
Centre Notifies Additional PMLA Special Courts in Gujarat
24 July 2026 at 09:34The Central Government has amended the PMLA notification to designate additional Special Courts in Gujarat, including CBI Special Courts in Ahmedabad and the Principal District Judge, Surat.
CBDT Grants Section 10(46) Exemption to District Legal Services Authority, Jind
23 July 2026 at 09:23CBDT Notification No. 92/2026 grants Section 10(46) income-tax exemption to District Legal Services Authority (DLSA), Jind on specified income for FY 2022-23 to FY 2025-26, subject to prescribed conditions.
CBDT Revises 'Specified Fund' Definition Under Income Tax Act, 2025
22 July 2026 at 08:00The Central Board of Direct Taxes (CBDT) has notified the Income-tax (Second Amendment) Rules, 2026, introducing an important amendment to the definition of "specified fund" under the Income-tax Rules, 2026.The amendment has been issued through Notif
No Proposal to Scrap LTCG Tax for Retail Investors, Govt Clarifies in Lok Sabha
22 July 2026 at 07:40The Government has clarified in Lok Sabha that there is currently no proposal to scrap the 12.5% Long-Term Capital Gains (LTCG) tax on equity investments for domestic investors.
CBDT Enables Foreign Assets Reporting in AIS: Taxpayers Can Now View CRS/FATCA Data Online
21 July 2026 at 09:48CBDT has enabled display of foreign asset and income information received under CRS/FATCA in AIS. Taxpayers can now view overseas account and investment data on the Income Tax portal.
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