Income Tax News
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.
Govt Proposes to Scrap 6% Equalisation Levy on Digital Ads in Finance Bill 2025
25 March 2025 at 08:32In a significant move impacting India's digital advertising landscape, the government has proposed amendments to the Finance Bill 2025, including the removal of the 6% equalisation levy on online advertisements.
Maharashtra Approves Tax Amnesty Scheme for PSUs, Aims to Recover Rs 8,000 Crore
24 March 2025 at 08:34In a significant move to resolve long-standing tax disputes, the Maharashtra Legislative Council on Thursday sanctioned a bill granting amnesty to PSUs of the Central and state governments for their tax dues to the Maharashtra government.
ITAT Mumbai Rules: No Capital Gains Tax on Co-Owner Without Beneficial Interest
22 March 2025 at 08:49The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has ruled that an individual listed as a co-owner of a property without actual financial interest cannot be taxed for capital gains upon its sale.
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