The CBDT issued a notification clarifying that ex-gratia compensation for BSNL and MTNL VRS-2019 is not r ...More

The CBDT issued a notification clarifying that ex-gratia compensation for BSNL and MTNL VRS-2019 is not retrenchment compensation. This compensation is governed by Section 10(10C) of the Income-tax Act, allowing tax exemptions under certain conditions. Employees must review their tax claims to ensure compliance with this clarification. Compensation exceeding five lakh rupees will remain taxable as salary income. ...Less

In a significant ruling, the Hyderabad ITAT absolves Mr Chintakunta of tax additions regarding unexplaine ...More

In a significant ruling, the Hyderabad ITAT absolves Mr Chintakunta of tax additions regarding unexplained cash and jewellery found during a 2010 search. The tribunal underscored the importance of maintaining proper records and adhering to CBDT guidelines, emphasizing that taxpayers can contest similar disputes by presenting sufficient supporting evidence. ...Less

People can legally own gold without a prescribed maximum quantity if they explain its source. The Income ...More

People can legally own gold without a prescribed maximum quantity if they explain its source. The Income Tax Department has guidelines regarding the non-seizure of gold jewelry during searches. Married women can own up to 500 grams, while unmarried women are allowed 250 grams and male members 100 grams. These limits do not automatically exempt individuals from income tax liabilities. ...Less

The Central Board of Direct Taxes (CBDT) has made it mandatory for organisations merging with another reg ...More

The Central Board of Direct Taxes (CBDT) has made it mandatory for organisations merging with another registered non-profit to inform the I-T Department within a prescribed deadline, get their accounts audited and disclose the reasons for the merger. The new rules, notified on October 30, also prevent organisations with regular registration from merging with those holding provisional registration, and vice versa. ...Less

Effective November 1, 2026, IndusInd Bank will roll out new fees for any failed savings account transacti ...More

Effective November 1, 2026, IndusInd Bank will roll out new fees for any failed savings account transactions. Concurrently, Punjab National Bank will adjust service charges related to credit card transactions. Pensioners must provide their life certificates by November 30, 2026, to continue receiving benefits. ...Less

Since the launch of the Foreign Assets of Small Taxpayers Disclosure Scheme, approximately 1,100 taxpayer ...More

Since the launch of the Foreign Assets of Small Taxpayers Disclosure Scheme, approximately 1,100 taxpayers have submitted applications. The scheme provides an opportunity to disclose unreported foreign assets and income at a 60 percent tax rate. Taxpayers can access information about their assets reported by foreign jurisdictions through the e-filing portal. Outreach programs have been initiated to raise awareness among various groups regarding this scheme. ...Less

The Central Board of Direct Taxes has introduced new disclosure requirements for taxpayers claiming exemp ...More

The Central Board of Direct Taxes has introduced new disclosure requirements for taxpayers claiming exemptions. Taxpayers will need to provide detailed information on government securities to qualify for these exemptions. Newly inserted Form 173A will require specific data, including securities value and interest earned. Taxpayers are asked to confirm the accuracy of the information they submit. This change aims to enhance transparency and compliance under the Income-Tax Act. ...Less

The Income Tax Department is encouraging taxpayers to declare undisclosed foreign assets through the FAST ...More

The Income Tax Department is encouraging taxpayers to declare undisclosed foreign assets through the FAST-DS initiative. A new e-filing portal feature allows taxpayers to view reported asset information from foreign jurisdictions. The Department plans outreach programs to assist corporate employers, educational institutions, and professional organizations. Eligible disclosures under the scheme require a fixed tax and penalty payment for regularization. ...Less

PHDCCI has recommended abolishing Long Term Capital Gains tax and modifying short-term capital gains taxe ...More

PHDCCI has recommended abolishing Long Term Capital Gains tax and modifying short-term capital gains taxes. The chamber suggests increasing the holding period for long-term investments to attract genuine investors. It emphasizes that current tax structures discourage investment due to double taxation on equities. Foreign Portfolio Investors have withdrawn significant funds from Indian equities, impacting investment levels. Government analysis of these recommendations may lead to changes in tax policy and structure. ...Less

International investors have raised concerns regarding the Indian Income-tax authorities' invocation of t ...More

International investors have raised concerns regarding the Indian Income-tax authorities' invocation of the judicial anti-avoidance rule. At a recent meeting, investors communicated their issues with the Central Board of Direct Taxes on this matter. The use of JAAR to deny relief on grandfathered shares contradicts prior regulations established by the CBDT. The standing of both GAAR and JAAR remains complex due to Supreme Court rulings. ...Less

FICCI has recommended the restoration of long-term capital gains tax exemption on listed shares in Budget ...More

FICCI has recommended the restoration of long-term capital gains tax exemption on listed shares in Budget 2027-28. The organization highlighted concerns regarding the withdrawal of foreign portfolio investments and the impact of capital gains tax. Additionally, it requested the government to implement lighter TDS rules and resolve backlog issues in tax appeals. FICCI emphasized the need for measures to provide certainty to investors over the long term. ...Less

In a significant update, the Central Board of Direct Taxes has rolled out Form 173A, effective from Octob ...More

In a significant update, the Central Board of Direct Taxes has rolled out Form 173A, effective from October 19, 2026, under the Income-tax Rules. Taxpayers aiming for exemptions on interest and capital gains from government securities must now provide in-depth information, including their securities holdings and personal ID. ...Less

The exemption applies to holders of Maharajah INR Bonds who are Indian residents or foreign institutional ...More

The exemption applies to holders of Maharajah INR Bonds who are Indian residents or foreign institutional investors, for the 2026-27 tax year and subsequent tax years. ...Less

In a notification dated October 19, the Central Board of Direct Taxes (CBDT) said no tax would be deducte ...More

In a notification dated October 19, the Central Board of Direct Taxes (CBDT) said no tax would be deducted at source on interest paid to eligible bondholders during financial year 2026-27 and subsequent tax years. The exemption covers residents and foreign institutional investors. ...Less

The Indian government has identified 762 potential applications of artificial intelligence across 62 mini ...More

The Indian government has identified 762 potential applications of artificial intelligence across 62 ministries and departments, spanning farming, railway safety, tax compliance, public grievances, customs and healthcare. While some tools are already in use, others remain in pilot or development stages. ...Less

The Central Board of Direct Taxes has introduced Form 173A for income-tax exemption claims. This new form ...More

The Central Board of Direct Taxes has introduced Form 173A for income-tax exemption claims. This new form includes detailed information to be submitted by foreign institutional investors. Exemptions are available for interest and capital gains on government securities according to recent amendments. The Income-tax Act, 2025, provides these exemptions starting from April 1, 2026. The additional requirements aim to streamline the process for eligible investors and organizations. ...Less

CBDT has launched the SAKSHAM NUDGE campaign aimed at tax professionals to encourage timely filing of tax ...More

CBDT has launched the SAKSHAM NUDGE campaign aimed at tax professionals to encourage timely filing of tax audit reports. The campaign targets those who filed fewer than 50% of their reports in the previous financial year. Messages were sent via SMS and email, urging quick compliance ahead of the new deadline. The deadline for submitting tax audit reports is extended to October 21, accommodating pending submissions. With over 19. ...Less

How much pure silver and gold jewellery can you have in your home without getting into trouble with the I ...More

How much pure silver and gold jewellery can you have in your home without getting into trouble with the Income Tax authorities? To know the answer you need to read CBDT Instruction No. 1916. ...Less

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On October 8, 2026, the Central Board of Direct Taxes introduced a revised Form 161 for taxpayers. This n ...More

On October 8, 2026, the Central Board of Direct Taxes introduced a revised Form 161 for taxpayers. This new form allows eligible individuals to apply for a waiver of penalty related to misreported income. Taxpayers must meet specific statutory conditions when applying for this relief through the amended form. The application process requires timely tax payments and cannot involve pending appeals. ...Less

Employee gets income tax notice over salary received in NRE account from South Korean employer; ITAT Bang ...More

Employee gets income tax notice over salary received in NRE account from South Korean employer; ITAT Bangalore gives him relief. Know what NRIs should note if they get money in their NRE account. ...Less

The CBDT has announced an extension for tax audit and ITR filing deadlines for Assessment Year 2026-27. T ...More

The CBDT has announced an extension for tax audit and ITR filing deadlines for Assessment Year 2026-27. Taxpayers must now file their returns by November 21, 2026, while the tax audit report is required by October 21, 2026. Accurate reporting and compliance checks are essential to avoid scrutiny from the income tax department. Companies should reconcile tax details and be mindful of additional reporting obligations. ...Less

The Central Government has extended the deadline for filing Income Tax Returns for the Assessment Year 20 ...More

The Central Government has extended the deadline for filing Income Tax Returns for the Assessment Year 2026-27. Taxpayers subject to audit now have until November 21, 2026 to file their returns. Additionally, the tax audit deadline has been shifted to October 21, 2026, providing more time for compliance. Chartered Accountants must upload the tax audit report on behalf of their clients through the e-filing portal. ...Less

The CBDT has amended Income-tax Rules, 2026, allowing buyers to deposit and report TDS under Section 393( ...More

The CBDT has amended Income-tax Rules, 2026, allowing buyers to deposit and report TDS under Section 393(2) of the Income-tax Act, 2025 through a PAN-based challan-cum-statement in Form 141. The changes will take effect from October 1, 2026. The move, which follows the Budget 2026 announcement, is aimed at simplifying compliance for property buyers, particularly in transactions that may be one-off in nature. ...Less

The Central Board of Direct Taxes is set to simplify TDS compliance requirements for residents buying pro ...More

The Central Board of Direct Taxes is set to simplify TDS compliance requirements for residents buying property from non-residents. From October 1, 2026, residents can use their PAN instead of obtaining a TAN for taxing purposes. This change is aimed at making tax compliance easier in such real estate transactions. Eligible resident individuals and Hindu undivided families can use Form 141 to report TDS deductions. ...Less

The proposed transaction shall be subject to satisfactory completion of due diligence, receipt of all req ...More

The proposed transaction shall be subject to satisfactory completion of due diligence, receipt of all requisite approvals and execution of the JDA. ...Less

From October 1, 2026, Indian property buyers can buy properties from non-residents without getting a TAN. ...More

From October 1, 2026, Indian property buyers can buy properties from non-residents without getting a TAN. Instead a new system has been launched by the Finance Ministry under which the buyer needs to file Form 141 and fill Schedule E and then issue the TDS certificate in Form 132 to the non-resident. Earlier this system was very complicated, now it has been made comparatively easier. ...Less

Income tax recovery no longer includes arrest or prison detention. Other recovery methods like property a ...More

Income tax recovery no longer includes arrest or prison detention. Other recovery methods like property attachment remain available to authorities. New rules require detailed disclosures for valuer registration. Valuers and tax practitioners have an extended transition period. This change balances taxpayer protection with tax collection needs. ...Less

The Central Board of Direct Taxes has rolled out significant amendments to income tax regulations for 202 ...More

The Central Board of Direct Taxes has rolled out significant amendments to income tax regulations for 2026, particularly affecting electronic communication and tax recovery processes. The deadlines for registering valuers and income tax professionals have been pushed back, allowing applicants until March 31, 2027, to finalize their registrations. ...Less

Notices have been issued to prominent Delhi voters regarding electoral roll discrepancies. Former RBI gov ...More

Notices have been issued to prominent Delhi voters regarding electoral roll discrepancies. Former RBI governor Bimal Jalan and ex-IAF chief NAK Browne are among those notified. These notices are part of an ongoing exercise covering over 97 lakh registered voters. The electoral authorities are examining submitted documents for verification purposes. Final electoral rolls are scheduled for publication on November 4. ...Less

FAST-DS 2026 prescribes detailed rules for valuing foreign assets, but how should undisclosed foreign inc ...More

FAST-DS 2026 prescribes detailed rules for valuing foreign assets, but how should undisclosed foreign income be computed for the ₹1-crore limit? This article examines whether such income should be computed under the Income-tax Act and converted into Indian rupees under Rule 115 and why CBDT clarification would help taxpayers. ...Less

The recent invocation of JAAR, a GAAR-type tool in the armoury of the taxman, in a certain case has stunn ...More

The recent invocation of JAAR, a GAAR-type tool in the armoury of the taxman, in a certain case has stunned many. Even though technically the tax department has the power to invoke JAAR, the recent move was entirely unforeseen following the CBDT assurance and subsequent change in the law to spare grandfathered shares from GAAR. ...Less

India's net direct-tax collections saw a nearly thirteen percent rise. Advance tax payments grew over six ...More

India's net direct-tax collections saw a nearly thirteen percent rise. Advance tax payments grew over sixteen percent, boosting overall collections significantly. Corporate advance tax collections increased by over eighteen percent year-on-year. Gross direct tax collections rose fifteen percent, while refunds also jumped. These figures indicate strong economic activity and taxpayer confidence. ...Less

Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing be ...More

Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing belated returns, potential fees, interest, and the crucial condonation process if even that window has passed. Understand the implications for carry-forward losses and deductions. Avoid common mistakes to ensure your refund is processed smoothly. ...Less

Private sector financing is crucial for India's ambitious Viksit Bharat vision. Government budgets alone ...More

Private sector financing is crucial for India's ambitious Viksit Bharat vision. Government budgets alone cannot meet the scale of transformation required. States are identifying sector-specific financing needs and innovative funding means. Increased domestic savings and efficient capital allocation are essential for sustained growth. Fiscal discipline and attracting more capital are vital for navigating global challenges. ...Less

The RBI's MDR introduction on UPI transactions above ₹2,000 faces criticism. This move may discourage dig ...More

The RBI's MDR introduction on UPI transactions above ₹2,000 faces criticism. This move may discourage digital payments and encourage a return to cash. Savings from reduced currency printing should cover fintech expenses instead. Digital payments have significantly reduced RBI's currency printing expenditure. Incentivizing digital payments is crucial for curbing the parallel economy. ...Less

A parliamentary committee convened to evaluate the fees associated with UPI transactions and explore reve ...More

A parliamentary committee convened to evaluate the fees associated with UPI transactions and explore revenue strategies. Opposition members expressed strong concerns regarding the government's choice to impose such charges. Previously, the committee had advocated for a sustainable financial model to support UPI. Furthermore, officials reiterated that cryptocurrency does not align with India's economic goals. The committee is poised to complete its report on virtual digital assets shortly. ...Less

A government task force will examine reviving Formula One and motorsports in India. This group will asses ...More

A government task force will examine reviving Formula One and motorsports in India. This group will assess taxation issues and other growth challenges for the sector. It will also evaluate potential international and economic benefits of hosting motorsport events. The task force will identify infrastructure needs and policy frameworks for sustainable development. This initiative considers bringing Formula 1 back to the Buddh International Circuit. ...Less

How wife’s 35 yrs old marriage and inheritance helped her win case in ITAT Mumbai after Income Tax Dept s ...More

How wife’s 35 yrs old marriage and inheritance helped her win case in ITAT Mumbai after Income Tax Dept seized her gold, diamond, silver items and jewellery kept in house and bank locker ...Less

Updated income tax returns have increased significantly over four years. New tax regime adoption shows st ...More

Updated income tax returns have increased significantly over four years. New tax regime adoption shows strong uptake among taxpayers filing returns. Karnataka ranks second in direct tax collections, contributing substantially to national revenue. Technology-driven systems enhance transparency and encourage voluntary taxpayer compliance. The department processes returns rapidly and issues refunds efficiently to taxpayers. ...Less

A parliamentary committee will meet on September 3 to discuss direct tax reforms. The meeting will focus ...More

A parliamentary committee will meet on September 3 to discuss direct tax reforms. The meeting will focus on simplification, rationalization, and ease of compliance. Discussions will also cover the Income-tax Act, 2025, and revenue performance. This session follows a previous cancellation regarding virtual digital assets. Representatives from the Ministry of Finance will attend the important deliberations. ...Less

A parliamentary committee has identified compliance issues with the new Income Tax Act. They are seeking ...More

A parliamentary committee has identified compliance issues with the new Income Tax Act. They are seeking detailed data from the CBDT on its overall impact. The committee wants to understand changes in taxpayer numbers and revenue collection. Technology-driven tax processes and faceless decisions also presented certain challenges. Further discussions are planned with tax authorities to address these concerns. ...Less

FAST-DS 2026 raises an important question for taxpayers who have voluntarily disclosed foreign income thr ...More

FAST-DS 2026 raises an important question for taxpayers who have voluntarily disclosed foreign income through a valid ITR-U. Can such income still remain “undisclosed” under the Black Money Act even though it may no longer qualify as “undisclosed foreign income” under FAST-DS 2026? This article examines the apparent statutory disconnect and the need for clarification from CBDT. ...Less

Transactions were either not reported, were undervalued or had suspected benami ownership; deals span bul ...More

Transactions were either not reported, were undervalued or had suspected benami ownership; deals span bulk land purchases, agri land & other high-value properties ...Less

The Income Tax Department is set to enhance its Annual Information Statement by incorporating additional ...More

The Income Tax Department is set to enhance its Annual Information Statement by incorporating additional data. This revision extends to GST returns, foreign remittances linked to mutual funds, off-market securities, and overseas investments. Furthermore, data from another taxpayer's income tax returns will be added, aiming to fortify the verification of income and transaction details for taxpayers. ...Less

The Supreme Court will hear a plea challenging anonymous cash donations below Rs 2,000. This provision of ...More

The Supreme Court will hear a plea challenging anonymous cash donations below Rs 2,000. This provision of the Income Tax Act is questioned for its lack of transparency. The petitioner seeks disclosure of all political funding sources and donor particulars. The plea also requests that no cash amounts be received by political parties. This aims to ensure greater transparency in political funding and election processes. ...Less

Gamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, file ...More

Gamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT Bangalore. Waseem Ahmed, the Accountant Member, and Soundararajan K., the Judicial Member of ITAT Bangalore heard this case. ...Less

The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remitta ...More

The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances after identifying several entities that allegedly remitted large amounts of foreign exchange despite reporting little or no turnover, the Central Board of Direct Taxes (CBDT) said. ...Less

Senior Income Tax officials met in Jaipur for a two-day conclave. They discussed improving taxpayer servi ...More

Senior Income Tax officials met in Jaipur for a two-day conclave. They discussed improving taxpayer services and reducing litigation for the department. Discussions also covered strengthening infrastructure and creating an actionable future roadmap. E-HRMS, service matters, and capacity building were extensively deliberated upon. The conclave concluded with a focus on future departmental functioning and priorities. ...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

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

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

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

An Indian resident successfully challenged the tax department's claim of undisclosed foreign income on ma ...More

An Indian resident successfully challenged the tax department's claim of undisclosed foreign income on maturity proceeds from a Dubai life insurance policy. The ITAT ruled that foreign insurer policies are not automatically subject to the Black Money Act, especially when premiums originate from non-taxable foreign earnings. This landmark decision offers clarity for NRIs and returning NRIs. ...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

"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

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

"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 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

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

"In a peer-to-peer (ie buyer to the seller without going through an Exchange) transaction, the buyer (ie ...More

"In a peer-to-peer (ie buyer to the seller without going through an Exchange) transaction, the buyer (ie person paying the consideration) is required to deduct tax under section 194S of the Act," the CBDT said. ...Less

CBDT said while there were around 2.5 lakh PAN applications per month earlier, after the Centre announced ...More

CBDT said while there were around 2.5 lakh PAN applications per month earlier, after the Centre announced to scrap high value currency notes in November last year, the number rose to 7.5 lakh. ...Less

CBDT has extended the last date for e-filing of returns for liaison offices of foreign entities by four m ...More

CBDT has extended the last date for e-filing of returns for liaison offices of foreign entities by four months to September 30 as the appropriate facility has not yet become operational. ...Less

Senior IRS officer Sushil Chandra today took charge as a member of the Central Board of Direct Taxes CBDT ...More

Senior IRS officer Sushil Chandra today took charge as a member of the Central Board of Direct Taxes CBDT, the policy-making body of the Income Tax department. ...Less

Born on September 1, 1959, Mody has almost 40 years of long experience for handling various posts in Gove ...More

Born on September 1, 1959, Mody has almost 40 years of long experience for handling various posts in Government of India including Chairman of CBDT. He has deep insight into jurisprudence and exposure to judicial and quasi-judicial processes. ...Less

CBDT has issued orders asking the I-T department to complete these enquiries in quick time and not drag t ...More

CBDT has issued orders asking the I-T department to complete these enquiries in quick time and not drag them "unnecessarily". ...Less

The CBDT, while launching the scheme in September last year, had said that this "one-time measure" is bei ...More

The CBDT, while launching the scheme in September last year, had said that this "one-time measure" is being undertaken to mitigate unintended hardship to taxpayers in deserving cases and to reduce the pendency of existing prosecution cases before the courts. ...Less

The CVC has come down hard on Department of Revenue, CBDT & CBEC for going slow against corruption, revea ...More

The CVC has come down hard on Department of Revenue, CBDT & CBEC for going slow against corruption, reveals RTI application filed by ET. ...Less

"The search action has led to detection of unaccounted income of more than Rs 70 crore which has been adm ...More

"The search action has led to detection of unaccounted income of more than Rs 70 crore which has been admitted as undisclosed income by the assessee group," the CBDT claimed in a statement. The Central Board of Direct Taxes (CBDT) is the policy-making body for the tax department. ...Less