Income Tax News

Punjab & Haryana High Court Warns CBDT of Contempt for Delay in Extending ITR Deadline for Audited Cases

29 October 2025 at 09:22

The Punjab & Haryana HC has warned the CBDT of contempt proceedings for failing to extend the ITR filing deadline for audited assessees as directed by the Gujarat HC.

Posted in Income Tax | 10641 Views

CBDT Empowers Commissioner, CPC Bengaluru to Rectify and Issue Demands for Certain Income Tax Cases

28 October 2025 at 09:25

CBDT notifies powers for CPC Bengaluru to rectify errors under Section 154 and issue tax demand notices under Section 156 for CPC-processed cases.

Posted in Income Tax | 13941 Views

CBDT Launches Updated Search and Seizure Manual 2025 with Focus on Digital Evidence and Data Security

28 October 2025 at 06:38

CBDT issues Search and Seizure Manual 2025, modernizing tax investigation with digital evidence handling, data protection, and inter-agency coordination.

Posted in Income Tax | 1875 Views

CBDT APA Annual Report 2024-25: Unprecedented Growth in Unilateral & Bilateral Agreements

23 October 2025 at 06:14

CBDT's APA Annual Report 2024-25 records a surge in Advance Pricing Agreements, offering tax certainty for multinational enterprises and strengthening India's ease of doing business

Posted in Income Tax | 1227 Views

CBDT Issues Directions on Verification of Expenses in the Entertainment Sector Following C&AG Audit Report

23 October 2025 at 06:14

CBDT issues fresh directions following C&AG's Performance Audit Report on the entertainment sector, instructing tax officers to ensure uniform assessment of pre-operative and film production expenses under Rules 9A and 9B of the Income-tax Rules, 1962.

Posted in Income Tax | 2511 Views

CBDT Sets New Record: 174 APAs Signed in FY25

20 October 2025 at 07:16

The CBDT has signed a record 174 Advance Pricing Agreements (APAs) in FY25 - the highest ever including 65 Bilateral APAs and one Multilateral APA.

Posted in Income Tax | 1749 Views

All Rules Under New Income Tax Law to be Notified by 31st December 2025

20 October 2025 at 07:16

The government plans to notify all rules under the new income tax law by December 31, 2025, through a single consolidated notification.

Posted in Income Tax | 2310 Views

Excel Utilities for ITR-1 to 7 for AY 2023-24 Released as per Finance Act, 2025

18 October 2025 at 07:15

Income Tax Dept releases Excel Utilities for filing Updated Returns (ITR-1 to 7) for AY 2023-24 as per Finance Act, 2025. Download from e-Filing portal.

Posted in Income Tax | 141 Views

Net Direct Tax Collections Rise 6.3% to Rs 11.89 Lakh Crore as of 12th October 2025

15 October 2025 at 09:32

India's net direct tax collections surged 6.3% to Rs 11.89 lakh crore as of October 12, 2025, driven by steady corporate earnings and lower refunds. Gross collections reached Rs 13.92 lakh crore, per CBDT data.

Posted in Income Tax | 174 Views

Black Money Act Under Review: Tax Department Examines Overlaps with Income Tax Law

15 October 2025 at 06:30

Government reviews Black Money Act; committee to assess harsh penalties, legal overlaps with the Income Tax Act, and challenges in enforcement.

Posted in Income Tax | 1395 Views