Income Tax News

CBDT Grants Income Tax Exemption to Uttarakhand Pollution Control Board

08 August 2025 at 08:46

CBDT grants income tax exemption to Uttarakhand Pollution Control Board from AY 2025-26 under Section 10(46A), recognising its role in environmental protection...

Posted in Income Tax | 174 Views

CBDT Detects Rs 630 Crore Undisclosed Income in Crypto Transactions

07 August 2025 at 09:11

CBDT detects Rs 630 crore in undisclosed crypto income and sends over 44,000 compliance notices under its NUDGE campaign. Learn how the government is cracking down on cryptocurrency linked tax evasion.

Posted in Income Tax | 1287 Views

Parliamentary Panel Criticizes IT Dept for Not Segregating Business and Individual Income Under PIT

07 August 2025 at 09:03

A parliamentary panel has criticised the Income Tax Department for refusing to segregate business and individual income under PIT, calling for a clear action plan to improve tax transparency and policy formulation.

Posted in Income Tax | 1683 Views

Income Tax Bill 2025: No Exemption for Fast-Track Demergers, Startups May Suffer

07 August 2025 at 08:57

Experts have criticised the Income-Tax Bill, 2025 for excluding fast-track demergers from tax-neutral treatment, warning that it contradicts ease of doing business and increases tax burden on startups and MSMEs.

Posted in Income Tax | 2334 Views

Income Tax Department Detects Rs 30,444 Crore Undisclosed Income in FY25 Through 465 Surveys

07 August 2025 at 08:53

In FY25, the Income Tax Department detected Rs 30,444 crore in undisclosed income through 465 surveys, Parliament was informed. Seizures and search operations also yielded assets worth over Rs 2,500 crore.

Posted in Income Tax | 2964 Views

Income Tax Bill 2025: Lok Sabha Panel Recommends Over 330 Changes to Boost Clarity

04 August 2025 at 09:12

The Lok Sabha Select Committee spent 25,000 hours reviewing the Income Tax Bill 2025, recommending 330+ clarity-focused changes.

Posted in Income Tax | 3375 Views

Finance Ministry: Only 8 PMLA Cases Convicted Out of 5,892 ED Investigations

02 August 2025 at 09:19

Finance Ministry reveals that out of 5,892 money laundering cases probed by ED since January 2015, only 8 convictions have been secured. The data was shared in response to a Rajya Sabha query by TMC MP Saket Gokhale.

Posted in Income Tax | 1896 Views

Finance Ministry Notifies 0.1% Concessional Guarantee Fee for NaBFID

02 August 2025 at 09:13

The Finance Ministry has notified a concessional 0.1% guarantee fee for NaBFID’s foreign borrowings, aiming to support its long-term infrastructure financing goals. Notification follows global credit ratings from Moody’s and Fitch.

Posted in Income Tax | 273 Views

ICSI Calls for Recognition of Company Secretaries as 'Accountants' Under Income Tax Bill

02 August 2025 at 09:05

The Institute of Company Secretaries of India (ICSI) urges the government to recognise CS professionals as accountants and calls for a comprehensive overhaul of taxation laws

Posted in Income Tax | 3 comments | 14979 Views

CBI Arrests Income Tax Inspector and Middleman in Rs 70,000 Bribery Case in Vijayawada

01 August 2025 at 09:33

The CBI has arrested an Income Tax Inspector in Vijayawada and a middleman for accepting a Rs 70,000 bribe from a businessman in Eluru to suppress departmental action. A trap was laid following a complaint, and both accused are now in custody.

Posted in Income Tax | 2250 Views