Income Tax News
Income Tax Department Updates Excel Based Utilities for ITRs and Audit Forms
29 March 2025 at 08:35The Income Tax Department has released the latest versions of Excel-based utilities and schemas for various Income Tax Returns (ITR) and audit report forms.
Finance Ministry Rules Out Abolishing LTCG Tax Amid Market Volatility
29 March 2025 at 08:34In a significant announcement, the Finance Ministry has categorically ruled out any plans to abolish the Long-Term Capital Gains (LTCG) tax, despite recent market downturns that saw investors losing over Rs 74 lakh crore.
Section 194T Introduced: TDS on Payments to Partners Now Mandatory
28 March 2025 at 08:42The Central Board of Direct Taxes (CBDT) has issued the Income-tax (Seventh Amendment) Rules, 2025, introducing key changes to the Income-tax Rules, 1962
Income Tax Department Cracks Down on Bogus Refunds
28 March 2025 at 08:42The Investigation Wing of the Income Tax Department has uncovered a large-scale tax fraud during simultaneous surprise raids conducted across Tamil Nadu, including the four southern districts.
Income Tax Dept Cannot Access Personal Emails, Social Media Accounts: MoS Finance
28 March 2025 at 08:42The Government of India has clarified that Income Tax officials will not have unrestricted access to personal emails, social media, or bank accounts of taxpayers.
WhatsApp Chats Expose Rs 200 Crore Tax Evasion: FM Nirmala Sitharaman Justifies New Tax Bill
27 March 2025 at 08:37In a significant revelation, Finance Minister Nirmala Sitharaman disclosed that tax authorities successfully uncovered Rs 200 crore worth of tax evasion using WhatsApp messages as evidence.
CBDT releases Supplementary FAQs on the Finance Bill, 2025
26 March 2025 at 09:00Supplementary FAQs on the Finance Bill, 2025
CBDT Notifies Amendments in Income-Tax Rules to Broaden Safe Harbour Scope
26 March 2025 at 08:40CBDT Notifies Sixth Amendment to Income-Tax Rules, 2025Key Highlights of Notification No. 21/2025The Central Board of Direct Taxes (CBDT) has issued Notification No. 21/2025 on March 25, 2025, amending the Income-tax Rules, 1962.
Lok Sabha Passes Finance Bill 2025 with 35 Amendments, Moves to Rajya Sabha for Approval
26 March 2025 at 08:34The Lok Sabha on Tuesday passed the Finance Bill, 2025, incorporating 35 government amendments, marking a significant step in the Budget approval process.
Income Tax Dept Flags Rs 29 Lakh Crore as Hard to Recover from Rs 43 Lakh Crore Dues
25 March 2025 at 08:41The Income Tax Department is grappling with an overwhelming backlog of direct tax arrears, with Rs 29 lakh crore classified as nearly impossible to recover, as per official submissions to the Parliamentary Standing Committee on Finance.
Popular News
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- GSTN to Implement Phase-3 HSN Code Mandate & Table 13 Reporting From May 2025
- CBDT Notifies New ITR-3 Form for AY 2025-26
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