India's direct tax collections for the financial year 2024-25 have witnessed a robust year-on-year (YoY) growth of 13.13%, reaching ₹21.26 lakh crore in net collections as of March 16, 2025, according to data from the TINMIS.
CBDT has issued Circular No. 04/2025 dated March 17, 2025, providing Frequently Asked Questions (FAQs) on the revised guidelines for the Compounding of Offences under the Income Tax Act, 1961.
The Income Tax Department on Saturday wrapped up a five-day search operation on the Sri Chaitanya group of educational institutions, spanning Hyderabad, Vijayawada, Chennai, Bengaluru and Mumbai.
Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Uttar Pradesh
In a significant move to provide clarity on the implementation of tax treaties, the CBDT has issued Circular 01/2025, emphasizing the application of the Principal Purpose Test (PPT) under India's Double Taxation Avoidance Agreements (DTAAs).
The Income Tax (IT) department has launched a major crackdown on suspicious political donations, issuing hundreds of notices to individuals who contributed over ₹5 lakh to lesser-known political parties in the financial year 2020-21.
In yet another case of corruption within the Income Tax Department, a complaint has been filed against an IT officer in Jalgaon for demanding a bribe to process the cancellation of a newly issued PAN card.
In a shocking case of corruption, the Central Bureau of Investigation (CBI) caught an Income Tax officer red-handed while accepting a bribe of ₹50,000 from a 62-year-old taxpayer.
In a shocking turn of events, a daily wage laborer in Kothagudem has received a recovery notice for Rs 22.86 lakh in pending GST dues, highlighting potential lapses in the tax system's verification processes.
A select committee of Parliament convened to discuss the provisions of the proposed New Income Tax Bill, a key reform initiative aimed at overhauling India's direct tax structure.
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