The Delhi High Court has halted the processing of judges' income tax returns. This action stems from a di ...More

The Delhi High Court has halted the processing of judges' income tax returns. This action stems from a dispute over certain allowance exemptions under new tax rules. The court directed private secretaries to submit necessary details to tax authorities. It also ordered that any demand raised shall remain in abeyance. The petition argues the tax department's stance interferes with judicial independence. ...Less

The revised guidance, issued by the central board of direct taxes (CBDT), lays down an updated compliance ...More

The revised guidance, issued by the central board of direct taxes (CBDT), lays down an updated compliance framework for reporting financial institutions (RFIs), including banks, mutual funds, insurers, custodians and other investment entities, on identifying reportable accounts, validating tax residency and reporting financial information under the country's Automatic Exchange of Information (AEOI) commitments. ...Less

The July 31, 2026, income tax return filing deadline remains unchanged for many taxpayers. Those who miss ...More

The July 31, 2026, income tax return filing deadline remains unchanged for many taxpayers. Those who missed this date must now file a belated return and pay a late fee. Taxpayers with business income and those requiring a tax audit have different filing deadlines. The due date for business income without audit is August 31, 2026. Taxpayers needing a tax audit must file by October 31, 2026. ...Less

Investors from abroad are pressing regulators for a decrease in securities transaction taxes to alleviate ...More

Investors from abroad are pressing regulators for a decrease in securities transaction taxes to alleviate the burden of double capital gains taxes. With the Reserve Bank of India's stringent leverage rules potentially pushing trading activities offshore, there's a risk of reduced government revenues and diminished market liquidity. Authorities are considering these issues in light of the recent tax cuts on government securities. ...Less

Due to incorrect schedule in original ITR gratuity tax deduction under Section 43B denied; ITAT Chennai g ...More

Due to incorrect schedule in original ITR gratuity tax deduction under Section 43B denied; ITAT Chennai gives relief and says a genuine deduction cannot be denied merely because it was reported under an incorrect schedule in the ITR ...Less

Mauritius Cabinet approved the India-Mauritius DTAA Protocol ratification on July 17, 2026. This decision ...More

Mauritius Cabinet approved the India-Mauritius DTAA Protocol ratification on July 17, 2026. This decision followed extensive stakeholder discussions and detailed clarifications from India. The Protocol ensures genuine investments receive protection while maintaining Mauritius' credibility. India confirmed that investments made before April 1, 2017, will receive grandfathering protection. This Protocol strengthens the economic partnership and investor confidence between both nations. ...Less

India is closer to becoming a global rough diamond hub. A new tax exemption will attract foreign companie ...More

India is closer to becoming a global rough diamond hub. A new tax exemption will attract foreign companies to trade rough diamonds. This measure offers a 15-year income tax holiday for eligible firms. It aims to boost trading activity within India's Special Notified Zones. The government's move is expected to enhance India's diamond industry competitiveness. ...Less

Retired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he ...More

Retired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he wins case in ITAT Bangalore as tax notice was issued 26 days after the limitation period had expired. Know how he won case in ITAT Bangalore. ...Less

The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. Howev ...More

The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. However, Section 58(4) introduces a wider restriction on deductions and losses against presumptive income. Here is what professionals need to know before filing their returns. ...Less

Higher monetary limits for tax appeals have reduced disputed tax demand by about ₹16,690 crore, with over ...More

Higher monetary limits for tax appeals have reduced disputed tax demand by about ₹16,690 crore, with over 23,000 departmental cases withdrawn or not filed across ITAT, high courts and the Supreme Court. ...Less

ITR filing deadline: Nearly 5.44 crore taxpayers filed income tax returns for AY 2026-27 by July 30. Expe ...More

ITR filing deadline: Nearly 5.44 crore taxpayers filed income tax returns for AY 2026-27 by July 30. Experts suggest the July 31 deadline extension for income tax returns is unlikely. The e-filing portal has been functioning smoothly with no widespread technical issues reported. Taxpayers should file their returns by the July 31 deadline to avoid penalties. The government has previously extended deadlines due to significant technical problems. ...Less

NRIs selling under-construction property must use the allotment date for capital gains. This date determi ...More

NRIs selling under-construction property must use the allotment date for capital gains. This date determines long-term versus short-term capital gains tax treatment. The Bombay High Court and other rulings support the allotment date as the acquisition point. This principle applies even when possession or registration occurs much later. Proper documentation of the allotment letter is crucial for NRIs. ...Less

India now requires crypto exchanges to collect user tax residency details. Digital asset intermediaries m ...More

India now requires crypto exchanges to collect user tax residency details. Digital asset intermediaries must share transaction data annually with tax authorities. This aligns with the OECD's global Crypto Asset Reporting Framework. The Central Board of Direct Taxes issued a detailed compliance framework for reporting. Data sharing with participating jurisdictions begins next financial year. ...Less

ITR filing 2026: The government has addressed concerns regarding the income tax e-filing portal's perform ...More

ITR filing 2026: The government has addressed concerns regarding the income tax e-filing portal's performance. While usage has increased, the portal has largely remained stable, according to officials. The managed service provider, Infosys, has faced contractual penalties for project delays and outages. ...Less

NaBFID will issue zero-coupon bonds valued at twenty thousand crore rupees. This move supports the instit ...More

NaBFID will issue zero-coupon bonds valued at twenty thousand crore rupees. This move supports the institution's long-term capital mobilization for infrastructure projects. Investors will receive the full redemption amount after a ten-year maturity period. The Central Board of Direct Taxes approved the necessary tax framework for this issuance. NaBFID can issue these bonds until March thirty-first, twenty twenty-eight. ...Less

Finance Minister Nirmala Sitharaman urged tax officials to ensure taxpayer convenience. She stressed firm ...More

Finance Minister Nirmala Sitharaman urged tax officials to ensure taxpayer convenience. She stressed firm action against tax evasion and economic certainty. Officials must adopt an empathetic approach while enforcing tax laws. Sitharaman outlined five priorities for the Income Tax Department. She advised officials to exercise their powers with humility and agility. ...Less

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The CBDT’s decision to upload foreign financial information into taxpayers’ annual information statements ...More

The CBDT’s decision to upload foreign financial information into taxpayers’ annual information statements may be more than an administrative exercise. Read alongside the Finance Act, 2026, it appears to set the stage for the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, and signals a new era of tax transparency. ...Less

Mauritius cabinet ratified a tax protocol granting Indian officials more questioning powers. This allows ...More

Mauritius cabinet ratified a tax protocol granting Indian officials more questioning powers. This allows direct challenges to offshore entities suspected of tax evasion. The principal purpose test will deny treaty benefits if tax avoidance is a primary aim. This change follows the Tiger Global verdict and strengthens genuine substance requirements. The protocol aims to ensure treaty benefits are for legitimate commercial purposes. ...Less

To purchase property in India, wife paid Rs 58 lakh from her bank a/c and husband paid Rs 80 lakh via his ...More

To purchase property in India, wife paid Rs 58 lakh from her bank a/c and husband paid Rs 80 lakh via his UAE bank a/c using Dubai exchange bureau; she got tax notice for unexplained property investment; she fights and wins case in ITAT Mumbai for this reason. Know how she won the case in ITAT Mumbai. ...Less

Taxpayers can now e-verify their Income Tax Returns using multiple online options. Aadhaar OTP and Electr ...More

Taxpayers can now e-verify their Income Tax Returns using multiple online options. Aadhaar OTP and Electronic Verification Code (EVC) are convenient methods available. Net banking and Demat accounts also facilitate this essential tax process. The Income Tax Department provides clear steps for each verification method. Completing this verification ensures your tax return is officially processed. ...Less

Filed revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know ...More

Filed revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know how a man challenged tax dept's decision and won case in ITAT Bangalore. Know how the taxpayer won the case in ITAT Bangalore. ...Less

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Indian taxpayers face new foreign asset reporting rules for AY 2026-2027. Schedule FA requires disclosure ...More

Indian taxpayers face new foreign asset reporting rules for AY 2026-2027. Schedule FA requires disclosures for foreign shares and overseas bank accounts. Employee stock options and cryptocurrencies also demand careful reporting considerations. Jointly held foreign accounts need accurate disclosure based on fund ownership. Accurate reporting is crucial to avoid penalties under the Black Money Act. ...Less

India's Central Board of Direct Taxes has set the Cost Inflation Index at 384 for the financial year 2026 ...More

India's Central Board of Direct Taxes has set the Cost Inflation Index at 384 for the financial year 2026-27. This index is pivotal in gauging the inflation-driven changes in costs over time. Annually published through gazette notices, it pertains to long-term capital assets sold. ...Less

India's virtual digital asset taxation remains among the world's toughest. Investors face a flat thirty p ...More

India's virtual digital asset taxation remains among the world's toughest. Investors face a flat thirty percent tax on gains and one percent TDS. Specific provisions govern the taxation of cryptocurrencies and non-fungible tokens. Airdrops and staking rewards are taxed as income upon receipt. Non-disclosure of overseas holdings can invite severe penalties and prosecution. ...Less

New Reserve Bank of India norms will prevent lenders from reselling acquired assets to defaulting borrowe ...More

New Reserve Bank of India norms will prevent lenders from reselling acquired assets to defaulting borrowers. These prudential rules apply to banks, small finance banks, and NBFCs starting October 2026. Specified non-financial assets are those obtained when resolving stressed loans from borrowers. Lenders must establish board-approved policies for acquiring and disposing of these assets. These assets will be disclosed separately on balance sheets, not as NPAs. ...Less

Property sellers may need to re-compute advance tax after the Cost Inflation Index release. This delay im ...More

Property sellers may need to re-compute advance tax after the Cost Inflation Index release. This delay impacts individuals selling property acquired before July 23, 2024. Advance tax payments for the first quarter were due before the index was notified. Underestimating tax liability could lead to interest charges for deferred payments. Taxpayers can adjust subsequent installments or claim refunds if overpaid. ...Less

The Income Tax Department has announced the Cost Inflation Index for the upcoming tax year. This index, s ...More

The Income Tax Department has announced the Cost Inflation Index for the upcoming tax year. This index, set at 384, will adjust asset acquisition costs for capital gains. It becomes effective from April 1, 2026, impacting future tax calculations. ...Less

Overseas financial account information will now be included in taxpayers' Form 26AS. This move will allow ...More

Overseas financial account information will now be included in taxpayers' Form 26AS. This move will allow taxpayers to view their foreign financial data with the Income Tax Department. It helps reconcile overseas income and assets with tax filings effectively. The CBDT has directed the Director General of Income-tax (Systems) to upload this information. Information relating to 2022, 2023, and 2024 will be uploaded within ninety days. ...Less

This is a CBDT order dated July 8, 2026 issued under Section 119 of the Income-tax Act, 1961. It is an ad ...More

This is a CBDT order dated July 8, 2026 issued under Section 119 of the Income-tax Act, 1961. It is an administrative order that authorizes the Income-tax Department to upload foreign financial information received under Automatic Exchange of Information (AEOI) into taxpayers' Annual Information Statement (AIS) in Form 26AS/AIS. Know more. ...Less

New Income Tax Return forms for AY 2026-2027 introduce significant reporting changes. Taxpayers must now ...More

New Income Tax Return forms for AY 2026-2027 introduce significant reporting changes. Taxpayers must now report futures and options trading turnover and income. Disallowance of MSME interest under Section 43B(h) requires specific disclosure. Partners in firms need to provide additional details on interest and remuneration. These updates aim to enhance transparency and compliance for all taxpayers. ...Less

The Central Board of Direct Taxes has granted income-tax exemption to NCCL's Core Settlement Guarantee Fu ...More

The Central Board of Direct Taxes has granted income-tax exemption to NCCL's Core Settlement Guarantee Fund. This tax benefit will continue for assessment years 2019-20 through 2026-27. The exemption ensures continued tax relief under the new Income-Tax Act provisions. This relief remains available as long as the fund files its income-tax returns. The notification removes uncertainty over the tax treatment of this important market safeguard. ...Less

Existing tax benefits and approvals will continue under the Income Tax Act, 2025. Pending applications fi ...More

Existing tax benefits and approvals will continue under the Income Tax Act, 2025. Pending applications filed before March 31, 2026, will be processed under the new law. Lower or nil TDS certificates issued previously remain protected and valid. New applications filed after April 1, 2026, will follow the 2025 Act. Taxpayers need not take additional action for this transition. ...Less

Indian taxpayers face new disclosure rules for foreign assets and investments. Global information exchang ...More

Indian taxpayers face new disclosure rules for foreign assets and investments. Global information exchange frameworks necessitate accurate reporting of overseas income. Schedule FA in ITR requires detailed reporting of foreign assets held. Non-compliance can lead to significant penalties and scrutiny from tax authorities. Accurate reporting ensures transparency and reduces potential tax disputes. ...Less

Taxpayers filing updated returns face incorrect interest charges. Centralised Processing Centre calculate ...More

Taxpayers filing updated returns face incorrect interest charges. Centralised Processing Centre calculates Section 234B interest beyond tax payment dates. This leads to excess demands and additional income tax levies. The law mandates interest cessation upon full tax payment before filing. Taxpayers should seek rectification for these erroneous demands. ...Less

Indian residents holding foreign assets must report them in Schedule FA. This reporting uses the calendar ...More

Indian residents holding foreign assets must report them in Schedule FA. This reporting uses the calendar year ending December 31, 2025. Assets held even for one day during this period require declaration. This applies irrespective of the foreign country's fiscal year. Failure to report can lead to penalties for non-compliance. ...Less

India’s younger generations are increasingly treating inherited gold jewellery as a financial asset rathe ...More

India’s younger generations are increasingly treating inherited gold jewellery as a financial asset rather than a family heirloom. Millennials and Gen Z consumers are selling or exchanging old ornaments to fund major life goals such as buying homes, higher education, starting businesses and investing in financial products. ...Less

Salaried individuals, pensioners, and students must select the appropriate ITR form for AY 2026-2027. Tax ...More

Salaried individuals, pensioners, and students must select the appropriate ITR form for AY 2026-2027. Taxpayers not requiring an audit can use ITR-1, ITR-2, or ITR-3 for their filings. The due date for filing income tax returns is July 31, 2027. Certain transactions necessitate filing an ITR even below basic exemption limits. Understanding these guidelines ensures accurate tax compliance for all individuals. ...Less

Ravi Agrawal, Chairman of the Central Board of Direct Taxes (CBDT), has received a six-month tenure exten ...More

Ravi Agrawal, Chairman of the Central Board of Direct Taxes (CBDT), has received a six-month tenure extension, keeping him in the role until December 2026. The 1988 batch IRS officer was set to retire on June 30. The Appointments Committee of the Cabinet approved his re-appointment on a contractual basis, a move made in relaxation of recruitment rules. Agrawal initially took charge in June 2024. ...Less

Taxpayers should verify Annual Information Statement data for capital gains. Relying solely on AIS may le ...More

Taxpayers should verify Annual Information Statement data for capital gains. Relying solely on AIS may lead to incorrect income reporting for AY 2026-27. Download broker P&L statements and reconcile them with AIS information. Independent capital gains computation is crucial before filing income tax returns. This ensures accurate reporting and compliance with tax regulations. ...Less

Airlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing c ...More

Airlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing companies in GIFT City. This move aims to boost airline cash flow and position India as a global aircraft leasing hub. The exemption, effective immediately, simplifies compliance and raises the competitiveness of GIFT City-based lessors against offshore centers, encouraging more leasing activities within India. ...Less

Charitable trusts and institutions that missed the 80G registration renewal deadline have received a one- ...More

Charitable trusts and institutions that missed the 80G registration renewal deadline have received a one-time reprieve from the CBDT. The tax department has condoned delays for applications filed between October 1, 2025, and March 31 this year. This crucial relief ensures that donors can continue to claim tax deductions on their contributions, safeguarding the financial stability of these non-profit organizations. ...Less

Miscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax ...More

Miscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department. ...Less

The Reserve Bank of India has strongly advised a prohibition strategy for crypto assets, recommending tha ...More

The Reserve Bank of India has strongly advised a prohibition strategy for crypto assets, recommending that banks and financial institutions be completely shielded from them. Officials argued that allowing exposure could legitimize speculative products with no economic benefit and pose financial stability risks. The RBI also questioned India's top crypto adopter ranking and warned stablecoins could threaten monetary sovereignty. ...Less

Homeowners can now potentially claim tax deductions on interest paid for both their original home loan an ...More

Homeowners can now potentially claim tax deductions on interest paid for both their original home loan and a subsequent loan taken to repay it, under the old tax regime. This benefit, supported by a 1969 CBDT circular and expected to continue under the Income-tax Act, 2025, allows for dual deductions up to Rs 2 lakh for self-occupied properties. ...Less

As Section 143(2) scrutiny notices for AY 2025-26 reach taxpayers during the ITR filing season for AY 202 ...More

As Section 143(2) scrutiny notices for AY 2025-26 reach taxpayers during the ITR filing season for AY 2026-27, this article explains why taxpayers receive scrutiny notices, how they should respond, the consequences of non-compliance and under-reporting of income, the relief available under Section 270AA, and the key compliance lessons for filing current-year returns. ...Less

The communication, dated June 16, a copy of which was seen by ET, also mandated each zone to submit a rep ...More

The communication, dated June 16, a copy of which was seen by ET, also mandated each zone to submit a report to the Directorate of Tax Research and Analysis by July 31. ...Less

Dolly Khanna successfully challenged the tax department's classification of her Rs 54 crore short-term ca ...More

Dolly Khanna successfully challenged the tax department's classification of her Rs 54 crore short-term capital loss as a business loss. The ITAT Chennai ruled she is an investor, not a trader, allowing the loss to be treated as a capital loss. This decision was supported by a 2016 CBDT circular and her consistent investment history. ...Less

The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY ...More

The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY 2025-26 returns. An internal deadline of June 15, 2026, requires tax officers to forward selected cases for scrutiny. Taxpayers with errors can file updated returns or provide explanations during scrutiny. ...Less

8th Pay Commission news: Central government employees await the 8th Pay Commission's recommendations, wit ...More

8th Pay Commission news: Central government employees await the 8th Pay Commission's recommendations, with meetings underway. Arrears for top-level employees (Level 15-18) could range from ₹36.44 lakh to over ₹93 lakh for a 20-month delay, depending on the fitment factor. These figures are estimates until the official report is implemented. ...Less

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The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting r ...More

The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specific risk parameters will mandate detailed examination by the I-T Department. A June 30, 2026 deadline is set for issuing scrutiny notices under Section 143(2). ...Less

India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New repo ...More

India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including transaction-by-transaction entries in Schedule VDA and cross-referencing with exchange data, are crucial. Failure to comply accurately can lead to significant penalties, making diligent record-keeping essential for all participants. ...Less

The Central Board of Direct Taxes has directed tax officers to be more careful and consistent when using ...More

The Central Board of Direct Taxes has directed tax officers to be more careful and consistent when using rules against hidden income and assets. This follows a report highlighting inconsistent application that cost the government revenue. These rules help tax authorities treat unexplained money, investments, or spending as income if taxpayers cannot provide a valid source. ...Less

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Sebi and CBDT relaxed PAN compliance requirements for foreign portfolio investors after concerns over com ...More

Sebi and CBDT relaxed PAN compliance requirements for foreign portfolio investors after concerns over complex onboarding rules. The clarifications simplify documentation, contact disclosures and taxpayer identification requirements, aiming to maintain seamless foreign investor access and improve ease of doing business in Indian financial markets. ...Less

ET Wealth Reader's Query: I am a 50-year-old widower. My wife passed away a few years ago. I currently ha ...More

ET Wealth Reader's Query: I am a 50-year-old widower. My wife passed away a few years ago. I currently have around 800 grams of gold that belonged to her and my late mother, combined. I have two daughters, aged 12 and 13. I would like to understand how I can transfer or gift this gold to my children. I do not have the purchase invoices for the gold. ...Less

The Central Board of Direct Taxes (CBDT) has signed a multi-year contract with telecom giant Bharti Airte ...More

The Central Board of Direct Taxes (CBDT) has signed a multi-year contract with telecom giant Bharti Airtel to provide network and connectivity solutions for CBDT's Taxnet-2.0 programme. Airtel will offer robust dual connectivity with Software Defined Network for WAN and Secure LAN, modernizing the current system for collection, processing, monitoring, and accounting of direct taxes. ...Less

Till a couple of years ago, only officers of the rank of Principal Chief Commissioner of Income Tax (PCCI ...More

Till a couple of years ago, only officers of the rank of Principal Chief Commissioner of Income Tax (PCCIT) were eligible for being considered for appointment as Member, CBDT. CBDT, on November 11, sought to widen the catchment of officers by making eligible all officers of the rank of Principal Commissioner of Income Tax and above. ...Less

Senior bureaucrat Sushil Chandra was today given one-year extension till May 2018 as chairman of the Cent ...More

Senior bureaucrat Sushil Chandra was today given one-year extension till May 2018 as chairman of the Central Board of Direct Taxes (CBDT). ...Less

As India faces a proposed 12.5% US tariff on its imports, trade think tank GTRI has advised the govt to c ...More

As India faces a proposed 12.5% US tariff on its imports, trade think tank GTRI has advised the govt to challenge the levy on legal grounds. The investigation stretches the intended scope of Section 301, the think tank says. ...Less

New CBDT Chairperson Senior IRS officer Rani Singh Nair is set to be appointed as the new CBDT Chairperso ...More

New CBDT Chairperson Senior IRS officer Rani Singh Nair is set to be appointed as the new CBDT Chairperson with incumbent Atulesh Jindal retiring on Sunday. ...Less

Following directives from the Rajasthan and Karnataka High Courts, the CBDT extended the tax audit report ...More

Following directives from the Rajasthan and Karnataka High Courts, the CBDT extended the tax audit report deadline to October 31, 2025. Subsequently, the Gujarat High Court further directed CBDT to extend the ITR due date for tax audit cases to November 30, 2025, addressing the gap created by the audit report extension. ...Less

The "Appointments Committee of the Cabinet has approved the appointment of Shri Nitin Gupta, IRS (IT:86), ...More

The "Appointments Committee of the Cabinet has approved the appointment of Shri Nitin Gupta, IRS (IT:86), Member Central Board of Direct Taxes (CBDT) as chairman, Central Board of Direct Taxes from the date of assumption of the post," according to the order issued on June 25. The post of the CBDT chief was being held in an additional capacity by board member and 1986-batch IRS officer Sangeeta Singh after J B Mohapatra retired on April 30. ...Less

The court was hearing a plea by the Central Public Information Officer (CPIO) of CBDT seeking quashing of ...More

The court was hearing a plea by the Central Public Information Officer (CPIO) of CBDT seeking quashing of the November 30, 2022 order of the CIC which had directed that the CPIO would revisit certain points made in the application under the Right to Information Act and provide information within 15 days from the receipt of the order. ...Less

The charge of I-T investigations, usually, is handled by a separate Member in the Central Board of Direct ...More

The charge of I-T investigations, usually, is handled by a separate Member in the Central Board of Direct Taxes (CBDT). ...Less

There had been rumours that the deadline may be extended again. There had been images of an order issued ...More

There had been rumours that the deadline may be extended again. There had been images of an order issued by the CBDT circulated in social media. Consequently, CBDT has issued a clarification. ...Less

The CBDT, the apex policy making body of the income-tax department, has so far received 42 application fo ...More

The CBDT, the apex policy making body of the income-tax department, has so far received 42 application for India-US bilateral APAs. ...Less

The Appointments Committee of the Cabinet has approved the appointment of Jindal as Chairman CBDT, an ord ...More

The Appointments Committee of the Cabinet has approved the appointment of Jindal as Chairman CBDT, an order issued by DoPT said. ...Less

CBDT Member (Revenue and Tax Payer Services) will oversee the related services in Central Board of Direct ...More

CBDT Member (Revenue and Tax Payer Services) will oversee the related services in Central Board of Direct Taxes, the CBDT said in a statement. ...Less

The CBDT has given some 90 startups an assurance and registered them for Startup India Action Plan. ...More

The CBDT has given some 90 startups an assurance and registered them for Startup India Action Plan. ...Less

Chandra, a 1980 batch officer of Indian Revenue Service (Income Tax cadre), is currently Member (Investig ...More

Chandra, a 1980 batch officer of Indian Revenue Service (Income Tax cadre), is currently Member (Investigation) of the CBDT. ...Less

CBDT is probing 18 Kolkata-based cos for allegedly helping Kalaignar TV, promoted by the family of Karuna ...More

CBDT is probing 18 Kolkata-based cos for allegedly helping Kalaignar TV, promoted by the family of Karunanidhi, to repay a loan of Rs 200 crore. ...Less

The CBDT said any admission of unaccounted money should be done only when there is strong and credible ev ...More

The CBDT said any admission of unaccounted money should be done only when there is strong and credible evidence and not under pressure. ...Less

The Punjab & Haryana High Court and the Himachal Pradesh High Court have extended the income tax return f ...More

The Punjab & Haryana High Court and the Himachal Pradesh High Court have extended the income tax return filing deadline for tax audit cases. The new deadline is November 30, 2025. This follows a similar order from the Gujarat High Court. Tax professionals are urging the CBDT to issue a nationwide circular. ...Less

The CBDT is continuing with the earlier stand in case of service tax, where the amount payable was not gr ...More

The CBDT is continuing with the earlier stand in case of service tax, where the amount payable was not grossed up with the service tax component ...Less

It is not immediately clear the conditions the CBDT will have to fulfil before tapping telephones of any ...More

It is not immediately clear the conditions the CBDT will have to fulfil before tapping telephones of any individual. ...Less

CBDT had hiked the threshold limit for the department to file appeals in ITAT and courts in order to brin ...More

CBDT had hiked the threshold limit for the department to file appeals in ITAT and courts in order to bring down litigation between the I-T Department and the assessee substantially. ...Less

She took over the top charge after her appointment was made by the government as incumbent CBDT Chairman ...More

She took over the top charge after her appointment was made by the government as incumbent CBDT Chairman K V Chowdary retired on October 31, a senior official said. ...Less

Bharti Airtel and the CBDT have finalized a multi-year agreement where Airtel will serve as the network a ...More

Bharti Airtel and the CBDT have finalized a multi-year agreement where Airtel will serve as the network and connectivity partner for the income tax department. This partnership includes dual connectivity using Software Defined Networks for WAN, Secure LAN, and other technology solutions under the Taxnet-2.0 program. The initiative aims to modernize tax collection, processing, monitoring, and accounting systems. Financial details of the contract were not disclosed. CBDT officially awarded the contract to Airtel, with both parties formalizing their acceptance at a recent signing event attended by Sunil Mittal and CBDT chairman Ravi Agarwal. ...Less

Sudha Sharma, a 1976 batch Indian Revenue Service (IRS) officer, is likely to be the new head of Central ...More

Sudha Sharma, a 1976 batch Indian Revenue Service (IRS) officer, is likely to be the new head of Central Board of Direct Taxes (CBDT). ...Less

Ravi Agarwal has been serving as a member, CBDT (Administration) since, July 2023. According to the order ...More

Ravi Agarwal has been serving as a member, CBDT (Administration) since, July 2023. According to the order issued by the Appointments Committee of the Cabinet on Saturday Ravi Agrawal, will be chairman of the CBDT, effective, July 1 up to the date of his superannuation on September 30. ...Less

A division bench of justices B R Gavai and M S Karnik had last week sought clarity from the CBDT on the S ...More

A division bench of justices B R Gavai and M S Karnik had last week sought clarity from the CBDT on the STT rate. ...Less

The income tax department has extended the deadline for charitable and religious trusts to submit registr ...More

The income tax department has extended the deadline for charitable and religious trusts to submit registration applications with tax authorities until June 30. The Central Board of Direct Taxes (CBDT) had previously extended the due date for filing Form 10A and Form 10AB for such trusts, institutions, and funds multiple times, with the last extension until September 30, 2023. This extension aims to avoid genuine hardships to taxpayers, allowing trusts to file Form 10A/Form 10AB for income tax exemption or renewal of permanent registration by the new deadline. ...Less

CBDT has issued a consolidated circular reiterating clarifications issued so far on taxation issues hurti ...More

CBDT has issued a consolidated circular reiterating clarifications issued so far on taxation issues hurting startups, including the so-called angel tax. ...Less

The Appointments Committee of the Cabinet has approved the appointment of Aditya Vikram and Pramod Chandr ...More

The Appointments Committee of the Cabinet has approved the appointment of Aditya Vikram and Pramod Chandra Mody as the CBDT members. ...Less

Ravi Agarwal, a 1988 batch IRS officer, has been granted a one-year extension as chairman of the Central ...More

Ravi Agarwal, a 1988 batch IRS officer, has been granted a one-year extension as chairman of the Central Board of Direct Taxes (CBDT), effective until June 30, 2026. Appointed initially on July 1, 2024, and re-appointed until June 30, 2025, Agarwal has spearheaded tax reforms focused on faster refunds and simplified rules. ...Less

A high-level CBDT panel has suggested framing of tax accounting standards (TAS) for computing precise inc ...More

A high-level CBDT panel has suggested framing of tax accounting standards (TAS) for computing precise income of real estate developers. ...Less

To improve tax collection, the CBDT asked Principal Chief Commissioners of Income Tax to set up local com ...More

To improve tax collection, the CBDT asked Principal Chief Commissioners of Income Tax to set up local committees to deal with grievances on unreasonable tax assessments. ...Less

CBDT Chairman has told the officials to take urgent steps and reduce problems and grievances of the taxpa ...More

CBDT Chairman has told the officials to take urgent steps and reduce problems and grievances of the taxpayers. ...Less

"No permission was sought by the officers before going public with their personal views and suggestions o ...More

"No permission was sought by the officers before going public with their personal views and suggestions on official matters, which is a violation of extant Conduct Rules. Necessary inquiry is being initiated in this matter," the CBDT said. ...Less

Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes ...More

Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes. The Central Board of Direct Taxes' Central Action Plan for 2026-2027 outlines a roadmap for a more taxpayer-centric and technology-driven tax administration. This plan aims to streamline processes, enhance efficiency, and improve overall taxpayer services, leading to a more predictable and responsive tax governance framework. ...Less

"The CBDT has so far refrained from issuing any statement regarding number of declarations received, amou ...More

"The CBDT has so far refrained from issuing any statement regarding number of declarations received, amounts declared or taxes paid," CBDT's statement said. ...Less

It will also ensure that both CBDT and Sebi have seamless linkage for data exchange. ...More

It will also ensure that both CBDT and Sebi have seamless linkage for data exchange. ...Less

A K Jain was today appointed Chairman of Central Board of Direct Taxes (CBDT), the apex policy making bod ...More

A K Jain was today appointed Chairman of Central Board of Direct Taxes (CBDT), the apex policy making body of Income Tax department. ...Less

P C Mody, the new chairman of the Central Board of Direct Taxes (CBDT), has asked the taxman to work with ...More

P C Mody, the new chairman of the Central Board of Direct Taxes (CBDT), has asked the taxman to work with greater transparency and accountability. ...Less

The countries with which the cases have been resolved are the US, Japan, the UK and China, the Central Bo ...More

The countries with which the cases have been resolved are the US, Japan, the UK and China, the Central Board of Direct Taxes (CBDT) in a statement said. ...Less

The Non-Filers Monitoring System (NMS) was initiated by CBDT, the policy making body of I-T Department, f ...More

The Non-Filers Monitoring System (NMS) was initiated by CBDT, the policy making body of I-T Department, for identification of non-filers with potential tax liabilities. ...Less