Income Tax News
CBDT Grants Tax Exemption to Punjab Real Estate Regulatory Authority Under Section 10(46A)
14 February 2025 at 08:48CBDT under the Ministry of Finance, has issued Notification No. 16/2025 on February 12, 2025, granting tax exemption to the Real Estate Regulatory Authority (RERA), Punjab under Section 10(46A) of the Income-tax Act, 1961.
Income Tax Bill 2025 Tabled in Parliament: Aims to Simplify IT Act, 1961
14 February 2025 at 08:32Income-tax Bill, 2025, tabled in Parliament towards achieving comprehensive simplification of the Income-tax Act, 1961
ITR Filings Surge to 83.9 Million in FY25, Up 4% from Last Year
13 February 2025 at 08:46The total number of income tax returns (ITRs) filed in FY25 reached a record 83.9 million by December 31, 2024, marking a 4% increase from the previous year, according to government data.
Income Tax Bill 2025: Key Tax Reforms & New Rules Effective from April 2026
12 February 2025 at 12:39The Indian government has introduced a new Income Tax Bill, replacing the Income Tax Act, 1961, which has undergone multiple amendments over the decades.
Income Tax Department Launches New Tax Calculator as per Finance Bill 2025
12 February 2025 at 07:14The Income Tax Department of India has introduced a new Section 115BAC Tax Calculator in line with the provisions of the Finance Bill 2025.
CBDT Enhances Tax Compliance for Non-Residents: Form 49C Filing Rules Amended
12 February 2025 at 07:13The Central Board of Direct Taxes (CBDT) has issued Notification No. 14/2025, amending the Income-tax Rules, 1962, to enhance compliance and reporting requirements for non-resident entities operating liaison offices in India.
CBDT Grants Tax Exemption to Bhaikaka University for Scientific Research u/s 35(1)(ii) of IT Act 1961
12 February 2025 at 07:13The Central Board of Direct Taxes (CBDT) has granted approval to Bhaikaka University, Anand, Gujarat, for tax exemption under Section 35(1)(ii) of the Income-tax Act, 1961.
New Income Tax Bill to Simplify Tax Laws & Improve Compliance: Set for Parliamentary Review
11 February 2025 at 08:58The government is set to introduce a new Income Tax Bill aimed at simplifying tax laws, reducing compliance burdens, and modernizing tax administration. Union Finance Minister Nirmala Sitharaman is expected to present the bill this week, after which
CBDT Amends IT Rules 2025: New Investment & Compliance Norms for Infrastructure Debt Funds
10 February 2025 at 08:49The Central Board of Direct Taxes (CBDT) has issued the Income-tax (Third Amendment) Rules, 2025, introducing crucial updates to Rule 2F of the Income-tax Rules, 1962.
Union Cabinet Approves New Income Tax Bill: Key Highlights and Expected Changes
08 February 2025 at 09:02The Union Cabinet on Friday approved the new Income Tax Bill, as per sources. The bill is set to replace the Income Tax Act, 1961 and aims to simplify and modernize India's tax system while making compliance easier for taxpayers.
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