Income Tax News
CBDT Recovers Rs 92,400 Crore in Outstanding Tax for FY 2024-25
03 April 2025 at 08:48CBDT has successfully recovered ₹92,400 crore in outstanding tax liabilities in the ongoing financial year (2024-25) up to March 15, according to sources familiar with the matter.
CBDT Signs Record 174 Advance Pricing Agreements in FY 2024-25
01 April 2025 at 08:45The Central Board of Direct Taxes (CBDT) entered into a record 174 Advance Pricing Agreements (APAs) with Indian taxpayers in FY 2024-25.
CBI Books Five Hyderabad-Based Income Tax Officials, Chartered Accountant for Alleged Extortion
01 April 2025 at 08:45CBI has registered a case against five officials of the Income Tax department and a CA based in Hyderabad for allegedly extorting money from taxpayers in exchange for favorable treatment in their tax matters.
Finance Act 2025 Notified: Key Tax Reforms and Compliance Enhancements
31 March 2025 at 08:42The Government of India has officially notified the Finance Act 2025, following its passage in both houses of Parliament and the Presidential assent on March 29, 2025.
Income Tax Notices Sent to High-Rent Tenants for TDS Non-Compliance
29 March 2025 at 09:00The Income Tax Department has issued notices to taxpayers who have been paying monthly rent of Rs 50,000 or more but failed to deduct Tax Deducted at Source (TDS) before remitting the amount to their landlords, a tax expert revealed.
CBDT Amends Tax Audit Report (Form 3CD) with Key Changes Effective 1st April 2025
29 March 2025 at 08:56CBDT has notified the Income-tax (Eighth Amendment) Rules, 2025 via Notification No. 23/2025, introducing significant modifications to Form 3CD, the tax audit report required under Section 44AB of the Income-tax Act, 1961
CBDT Allows Waiver of Interest on Delayed TDS/TCS Payments Due to Technical Glitches
29 March 2025 at 08:53The Central Board of Direct Taxes (CBDT) has issued Circular No. 05/2025, providing relief to taxpayers facing interest levies under Section 201(1A)(ii) and Section 206C(7) of the Income-tax Act, 1961.
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
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