Income Tax News

CBDT Notifies TDS Exemption on Ship Lease Rentals Paid to IFSC Units Under Income Tax Act, 2025

04 July 2026 at 09:39

CBDT has notified that no TDS will be deducted on lease rent paid for ship leasing to eligible IFSC units claiming deduction under Section 147 of the Income-tax Act, 2025, subject to specified conditions.

Posted in Income Tax | 210 Views

CBDT Notifies University of Hyderabad and PHFI as Approved Scientific Research Institutions Under Income Tax Act, 2025

29 June 2026 at 09:24

CBDT has notified the University of Hyderabad and the Public Health Foundation of India as approved scientific research institutions under the Income-tax Act, 2025, for Tax Years 2026-27 to 2030-31.

Posted in Income Tax | 123 Views

Income Tax Department Enables Online Challan Correction Facility

25 June 2026 at 09:35

The Income Tax Department's online Challan Correction facility allows taxpayers to correct AY, Tax Year, Major Head and Minor Head errors. Check eligibility, timelines, FAQs, user manual steps and important restrictions

Posted in Income Tax | 3747 Views

ITR-3 Utility Released for AY 2026-27: Excel Utility, JSON Schema and Validation Files Now Available

20 June 2026 at 09:18

The Income Tax Department has released the ITR-3 Excel Utility for AY 2026-27. Check eligibility, utility details, filing deadlines, and what business taxpayers should do next.

Posted in Income Tax | 3222 Views

Income Tax Act 2025: Key FAQs on Proposed Tax Exemption for FIIs Investing in G-Secs

15 June 2026 at 09:42

The government has released FAQs explaining the proposed tax exemption for Foreign Institutional Investors (FIIs) on interest income and capital gains from Government Securities under the Income Tax Act, 2025. Here's what investors need to know.

Posted in Income Tax | 3573 Views

Income Tax Act, 2025: CBDT Organises Webinar on Cross-Border Taxation and Transfer Pricing

13 June 2026 at 09:17

The Income Tax Department and PwC India hosted a webinar on the Income-tax Act, 2025, covering international tax, transfer pricing, new rules, compliance updates and cross-border taxation reforms.

Posted in Income Tax | 375 Views

Senior Citizens Welfare Fund Interest Rate Fixed at 6.85% for FY 2025-26

09 June 2026 at 09:20

The Ministry of Finance has notified an interest rate of 6.85% on deposits under the Senior Citizens Welfare Fund (SCWF) for the period from April 1, 2025 to March 31, 2026. Read the details of the latest notification.

Posted in Income Tax | 4548 Views

CBDT Releases Guidelines for Compulsory Income Tax Scrutiny During FY 2026-27

08 June 2026 at 09:31

CBDT has issued the guidelines for compulsory selection of income tax returns for complete scrutiny during FY 2026-27. Check the six categories of cases that will face mandatory scrutiny, key compliance requirements and important deadlines.

Posted in Income Tax | 1 comments | 80241 Views

FPI Investments in G-Secs Become Tax-Free Under Income-tax (Amendment) Ordinance, 2026

06 June 2026 at 09:35

The Income-tax (Amendment) Ordinance, 2026 exempts FPIs from tax on interest and capital gains from Government Securities, complementing major reforms to attract foreign investment.

Posted in Income Tax | 7962 Views

Form 40 Mandatory for Claiming Relief on Foreign Pension Accounts under IT Act 2025

05 June 2026 at 09:36

The Income Tax Department has released detailed FAQs on Form 40 under the Income Tax Act 2025. Know who must file it, eligibility conditions, due dates, required documents and how to claim tax relief on foreign retirement benefit accounts.

Posted in Income Tax | 2475 Views