Income Tax News
Finance Ministry Highlights Digital Innovations in RRBs, Urges Expansion of Customer-Centric Services
11 November 2024 at 06:44Focus of the meeting was business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry
CII Urges Tax Reforms and Increased Capital Investment in Union Budget 2025-26
11 November 2024 at 06:44In a pre-Budget meeting with Revenue Secretary Sanjay Malhotra, the Confederation of Indian Industry (CII) urged the government to continue tax reforms and boost capital expenditure in the Union Budget for 2025-26.
Industry Bodies Urge Finance Ministry to Simplify TDS Rates in Union Budget 2025
11 November 2024 at 06:44In anticipation of the Union Budget 2025, leading industry bodies have urged the finance ministry to streamline the tax deducted at source (TDS) structure, aiming to reduce the compliance burden and minimize litigation for taxpayers, as per reports.
Supreme Court Revives Rs 20,000 to 23,000 Crore in DRI Tax Notices Against Leading Companies
09 November 2024 at 07:02On Thursday, the Supreme Court of India reinstated tax notices worth an estimated ₹20,000-23,000 crore issued by the Directorate of Revenue Intelligence (DRI) to several major corporations, including Vedanta Ltd, Vodafone Idea Ltd, Adani Enterprises
Supreme Court Rules Salaries of Nuns and Priests in Aided Schools Are Subject to Income Tax
09 November 2024 at 07:00In a landmark judgment, the Supreme Court on Thursday upheld the Madras High Court's ruling that salaries paid to priests and nuns working as teachers in church-run, government-aided schools are subject to income tax.
Truecaller India Offices Face Income Tax Raids Amid Ongoing Compliance Checks
08 November 2024 at 06:39In a recent development, Truecaller, the Stockholm-based caller identification and spam-blocking app, confirmed that it is cooperating with Indian income tax authorities following raids on its offices in Noida, Mumbai and Bengaluru.
CBDT Considers Revamp of Income Tax Department Designations to Enhance Clarity and Transparency
07 November 2024 at 06:44CBDT is reportedly exploring a restructuring of designations within the Income Tax Department. This initiative aims to make roles more understandable for the public and create a transparent image of the department, aligning titles with responsibilities.
CBDT Sets New Limits for Interest Waiver under IT Act Section 220(2)
06 November 2024 at 06:41The Central Board of Direct Taxes (CBDT) issued Circular No. 15/2024 on November 4, 2024, defining monetary thresholds for income tax authorities regarding the waiver or reduction of interest under Section 220(2) of the Income-tax Act, 1961.
Income Tax Department Receives 6500 Stakeholder Suggestions for Overhaul of IT Act, 1961
05 November 2024 at 07:04The Income Tax Department has received a significant response from stakeholders, amassing 6,500 suggestions over the past month for the comprehensive review of the Income Tax Act, 1961.
Gujarat Among Top 5 in Income Tax Contributions, Collects Rs 3.46 Lakh Crore
05 November 2024 at 07:01Gujarat has solidified its position as one of India’s top contributors to income tax, with a remarkable cumulative collection of ₹3.46 lakh crore over the past five years, according to a recent report by the State Bank of India.
Popular News
- CBDT to Replace Forms 3CA, 3CB & 3CD with Consolidated Form 26
- Exceptions for Cash Payments Above Rs 10,000 under Rule 26 of Draft IT Rules 2026
- Income Tax Rules, 2026 Notified: Rule-Wise Comparison with Old IT Rules, 1962
- Draft Income Tax Rules, 2026 Released: Major Changes in Capital Gains, Perquisites and Non-Resident Taxation
- CBDT Proposes New Form 130 for TDS on Salary, Pension and Interest Income Under IT Act
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