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

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

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

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

ITR Filing 2026-27: Salaried employees can claim tax exemption on leave encashment at retirement. While g ...More

ITR Filing 2026-27: Salaried employees can claim tax exemption on leave encashment at retirement. While government employees enjoy full exemption, private sector employees have a limit of Rs 25 lakh, subject to specific calculations based on earned leave and salary. This income is reported under 'Income from Salary' in the ITR. ...Less

Union Home Minister Amit Shah has directed the authorities to enforce a strict zero tolerance policy agai ...More

Union Home Minister Amit Shah has directed the authorities to enforce a strict zero tolerance policy against illegal constructions near the country's borders. All unauthorized structures within 15 km will be demolished. District magistrates are tasked with enhanced responsibilities for banking and business compliance. A 360-degree security cover involving citizens and agencies is being formulated for border districts. ...Less

The Delhi government has approved a new policy for Delhi Jal Board properties. This aims to simplify wate ...More

The Delhi government has approved a new policy for Delhi Jal Board properties. This aims to simplify water charges and reduce costs for the public. Infrastructure charges will now be based on water demand and apply only to new construction. Residential colonies in E and F categories will receive a 50 percent rebate. ...Less

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

Tax authorities have uncovered a major scam involving fake agricultural income claims. Over 300 individua ...More

Tax authorities have uncovered a major scam involving fake agricultural income claims. Over 300 individuals claimed exemptions worth thousands of crores without owning any land. These claims were used to evade taxes and legitimize black money. The Income Tax Department used advanced data analytics and satellite imagery to identify these fraudulent activities. Genuine farmers are not affected. ...Less

India is actively shaping its digital asset future. Authorities are implementing stricter rules for crypt ...More

India is actively shaping its digital asset future. Authorities are implementing stricter rules for crypto platforms and transactions. Tax collections are rising, and law enforcement is building capacity. Investor interest is shifting towards long-term allocation. New regulations are formalising real-world asset tokenisation. India is setting a global precedent in this evolving financial space. ...Less

The Securities and Exchange Board of India has simplified rules for foreign investors. This eases the pro ...More

The Securities and Exchange Board of India has simplified rules for foreign investors. This eases the process of obtaining PAN cards for overseas portfolio investors. New rules introduced by the Income-tax Department had created difficulties. The Central Board of Direct Taxes has now issued relaxations. This aims to make onboarding smoother for foreign investors. ...Less

India's virtual digital asset sector is now high risk. Intelligence reports reveal extensive illegal acti ...More

India's virtual digital asset sector is now high risk. Intelligence reports reveal extensive illegal activities including drug trafficking and money laundering. Authorities are increasing financial surveillance and enforcement. Tax collections from VDAs are rising. New rules require reporting entities to disclose crypto transactions. Officials propose linking crypto ownership with PAN and uniform valuation norms to strengthen oversight. ...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 Income Tax Department has revised ITR forms for FY 2025-26, introducing new disclosure requirements f ...More

The Income Tax Department has revised ITR forms for FY 2025-26, introducing new disclosure requirements for capital gains, trading, and foreign assets. These updates aim to simplify filing for various taxpayer categories, including individuals, businesses, and presumptive income earners. ...Less

Multinationals in India are reassessing their tax strategies. A new safe harbour regime offers lower marg ...More

Multinationals in India are reassessing their tax strategies. A new safe harbour regime offers lower margins for IT and ITeS services. Companies with existing Advance Pricing Agreements face a choice. They can opt out of higher APA margins for the new safe harbour. Those with pending APA applications are waiting for clarity. ...Less

India's direct tax collections saw a modest rise in FY26. However, the total mop-up missed the revised ta ...More

India's direct tax collections saw a modest rise in FY26. However, the total mop-up missed the revised target by ₹81,000 crore. Both corporate and personal income tax collections were lower than anticipated. Officials noted the economy's resilience. They expect some moderation in tax growth this year. A clearer picture will emerge by June. ...Less

In a bid to streamline tax compliance, India's markets regulator Sebi is actively negotiating with the CB ...More

In a bid to streamline tax compliance, India's markets regulator Sebi is actively negotiating with the CBDT, the country’s tax authority. The proposal on the table suggests that foreign portfolio investors (FPIs) should have the autonomy to designate authorized signatories. ...Less

India has assured Mauritius that it will uphold benefits under the Double Taxation Avoidance Agreement. T ...More

India has assured Mauritius that it will uphold benefits under the Double Taxation Avoidance Agreement. This comes after a Supreme Court ruling raised concerns. India has softened tax regulations regarding the General Anti-Avoidance Rule for older investments. This move aims to provide certainty to foreign investors and private equity funds on tax matters. ...Less

The introduction of Form 157 and Form 159 under the Income-Tax Rules, 2026 has sparked confusion over whe ...More

The introduction of Form 157 and Form 159 under the Income-Tax Rules, 2026 has sparked confusion over whether tax clearance is now mandatory for all Indians travelling abroad. However, a closer reading of Section 420 of the Income-Tax Act, 2025—read with Section 536 and CBDT Instruction No. 1/2004—makes it clear that no such blanket requirement exists. ...Less

New Income Tax Rules, 2026 mandate that Indian employees acting as authorised signatories for foreign com ...More

New Income Tax Rules, 2026 mandate that Indian employees acting as authorised signatories for foreign companies must now provide their PAN, residential address, and other key details. This change aims to enhance compliance and links individuals directly to the foreign entity's tax obligations, potentially increasing scrutiny. ...Less

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If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and d ...More

If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 99th part of this series, Riju Mehta explains the difference between the two types of taxes. ...Less

India's market regulator Sebi seeks clarity from the tax department on the duties of authorised represent ...More

India's market regulator Sebi seeks clarity from the tax department on the duties of authorised representatives for foreign investors. Fund houses need clear guidelines as these representatives may face tax demands. Many professionals are hesitant to take on these roles without understanding their liabilities. Sebi is actively engaging with the Central Board of Direct Taxes to resolve this issue soon. ...Less

Four key changes to Income Tax Return (ITR) assessment rules will be effective from April 2026 for Tax Ye ...More

Four key changes to Income Tax Return (ITR) assessment rules will be effective from April 2026 for Tax Year 2026-27. These amendments, introduced in the Finance Bill, 2026, aim to enhance efficiency and transparency in tax assessments. The changes cover tax notices, DIN in communications, assessment completion timelines, and block assessments. ...Less

Two major Income Tax Department employee associations, representing nearly 97% of the workforce, have war ...More

Two major Income Tax Department employee associations, representing nearly 97% of the workforce, have warned of a seven-stage nationwide agitation starting April 16 if their long-pending demands are not addressed. In a letter to the Revenue Secretary, the Joint Council Action (ITEF and ITGOA) accused the Central Board of Direct Taxes of “persistent apathy” over issues such as stalled cadre restructuring, poor promotion prospects, excessive workload, unrealistic targets, and inadequate staffing and infrastructure. ...Less

Last fiscal year, the Income Tax Department successfully resolved an impressive 222,000 appeals, showcasi ...More

Last fiscal year, the Income Tax Department successfully resolved an impressive 222,000 appeals, showcasing a remarkable 29% growth in efficiency. This success underlines their dedication to minimizing taxpayer disputes. Additionally, they handled a plethora of complaints and applications, resulting in a significant decrease in pending tax demands. ...Less

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The CBDT has mandated a Document Identification Number (DIN) for all income tax correspondence to taxpaye ...More

The CBDT has mandated a Document Identification Number (DIN) for all income tax correspondence to taxpayers via a circular dated March 31, 2026. This new directive replaces the 2019 rules, ensuring taxpayers can verify the authenticity of official communications. Exceptions exist for technical difficulties or when electronic referencing is impossible, but these require post-facto approval within 15 days. ...Less

The Code on Social Security, 2020 expands the wage base for gratuity, potentially increasing payouts, but ...More

The Code on Social Security, 2020 expands the wage base for gratuity, potentially increasing payouts, but tax rules under the Income-tax Act, 1961 and the Income-tax Act, 2025 still rely on basic pay plus DA. With the Payment of Gratuity Act, 1972 now subsumed, this mismatch could make part of the higher gratuity taxable—highlighting the need for alignment between labour and tax laws. ...Less

The Central Board of Direct Taxes has introduced new forms for correcting PAN card details. These forms, ...More

The Central Board of Direct Taxes has introduced new forms for correcting PAN card details. These forms, PAN CR-01 for individuals and PAN CR-02 for non-individuals, will be effective from April 1, 2026. Both online and offline submissions are permitted. Applicants must provide correct PAN details and a copy of their PAN card. Aadhaar is mandatory for most applicants. ...Less

India has a new Income Tax Act, 2025, effective April 1, 2026. This replaces the old 1961 Act, making tax ...More

India has a new Income Tax Act, 2025, effective April 1, 2026. This replaces the old 1961 Act, making tax rules simpler and easier to follow. The e-filing portal will support both old and new acts during the transition. Assessments for past years will follow the old Act. Advance tax payments from June 2026 will use the new Act. ...Less

New income tax return forms for Assessment Year 2026-27 demand greater detail on political party donation ...More

New income tax return forms for Assessment Year 2026-27 demand greater detail on political party donations. Taxpayers seeking deductions under Section 80GGC must now provide the political party's name and PAN. This change aims to enhance transparency and traceability of contributions. Individuals donating through banking channels or UPI should be aware of these updated disclosure requirements. ...Less

Tax authorities nationwide are demanding taxes on partner bonuses and performance pay. Professional firms ...More

Tax authorities nationwide are demanding taxes on partner bonuses and performance pay. Professional firms argue this income is already taxed. Delhi HC has intervened, directing the Central Board of Direct Taxes to issue a clarification. This issue could impact many partners across India. ...Less

New tax rules for Tax Year 2026-27 begin April 1, 2026. Key changes affect TDS on NRI property and TCS on ...More

New tax rules for Tax Year 2026-27 begin April 1, 2026. Key changes affect TDS on NRI property and TCS on overseas remittances for education. Interest on motor vehicle compensation is now tax-exempt. Small taxpayers get an easier process for lower TDS certificates. TDS on manpower supply is clarified. ...Less

Investors holding assets acquired before April 1, 2017, have received a significant reprieve. The Central ...More

Investors holding assets acquired before April 1, 2017, have received a significant reprieve. The Central Board of Direct Taxes has clarified that gains from these legacy investments will be exempt from General Anti-Avoidance Rules (GAAR). This move aims to provide much-needed clarity and reassurance for foreign investors and private equity funds concerning their existing holdings. ...Less

India’s tax department has rolled out updated ITR forms for FY 2025–26, introducing tighter disclosure no ...More

India’s tax department has rolled out updated ITR forms for FY 2025–26, introducing tighter disclosure norms while keeping the overall structure unchanged. The changes focus on greater transparency—especially around political donations, F&O trading, and digital payments—while adding minor conveniences like a secondary address field. ...Less

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New Income Tax Return forms have removed ITR-1 and ITR-4, requiring US 401(k) and overseas pension accoun ...More

New Income Tax Return forms have removed ITR-1 and ITR-4, requiring US 401(k) and overseas pension account holders to now use ITR-2 or ITR-3. This change aims to streamline reporting of foreign assets and income, aligning with existing disclosure requirements. Taxpayers can still defer tax liability by filing Form 10-EE. ...Less

Form 16 will be renumbered as Form 130 under the Income Tax Rules, 2026, effective from April 1, 2026. Th ...More

Form 16 will be renumbered as Form 130 under the Income Tax Rules, 2026, effective from April 1, 2026. This change introduces a "Tax Year" concept, enhances taxpayer and employer details for digitized reporting, and requires disclosure of tax deduction rates. The shift is primarily structural, aligning with the new Income-tax Act, 2025. ...Less

Technical issues plaguing the income tax e-filing portal have prompted the CBDT to extend the deadline fo ...More

Technical issues plaguing the income tax e-filing portal have prompted the CBDT to extend the deadline for issuing TDS certificates. Employers, banks, and other deductors now have until March 31, 2026, to provide these crucial documents for the quarter ending December 2025. This move aims to alleviate genuine hardship faced by those responsible for tax deductions. ...Less

Starting April 1, 2026, new Income Tax Act and Rules bring significant changes for Tax Year 2026-27. Key ...More

Starting April 1, 2026, new Income Tax Act and Rules bring significant changes for Tax Year 2026-27. Key updates include extended ITR due dates for certain taxpayers, revised timelines for updated and revised returns, and mandatory PAN quoting for more transactions. These amendments aim to streamline tax filing and compliance. ...Less

Indian tax authorities are pushing foreign portfolio investors (FPIs) to designate a 'representative asse ...More

Indian tax authorities are pushing foreign portfolio investors (FPIs) to designate a 'representative assessee' for tax default engagement. This move, following an incident with Jane Street, has raised concerns among FPIs and custodians about potential liabilities. Discussions are ongoing between tax bodies, SEBI, and financial institutions regarding the implications for nominated individuals. ...Less

India has no legal limit on gold ownership, provided its source is declared income. While CBDT offers sei ...More

India has no legal limit on gold ownership, provided its source is declared income. While CBDT offers seizure guidelines for specific gold jewellery quantities during searches, exceeding these limits isn't illegal if the origin is explained. Documentation like bills, inheritance papers, or gift records is crucial for proving legitimacy, especially for coins and bars. ...Less

The Income Tax Department has launched a revamped e-filing portal to support the transition to the new In ...More

The Income Tax Department has launched a revamped e-filing portal to support the transition to the new Income Tax Act, 2025. Taxpayers can now make payments and file forms under both old and new tax laws from a single platform, with new forms and challans available from April 1, 2026. ...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 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

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 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

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 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

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

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

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

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

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

"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

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

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

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

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

"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

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

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

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

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

"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

"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

The Union government has appointed four new members to the Central Board of Direct Taxes (CBDT). The Appo ...More

The Union government has appointed four new members to the Central Board of Direct Taxes (CBDT). The Appointments Committee of the Cabinet approved the selection of Pankaj Kumar Mishra, Sanjay Bahadur, L Rajasekhar Reddy, and G Aparna Rao, all from the 1989 batch of the Indian Revenue Service. These appointments will bolster the decision-making capacity of the Income-Tax department. ...Less

Senior income tax officer K V Chowdary has been appointed as the new member of Central Board of Direct Ta ...More

Senior income tax officer K V Chowdary has been appointed as the new member of Central Board of Direct Taxes (CBDT) in the Finance Ministry. ...Less

In a statement, the Central Board of Direct Taxes (CBDT) clarified that TCS shall be applicable only on t ...More

In a statement, the Central Board of Direct Taxes (CBDT) clarified that TCS shall be applicable only on the amount received on or after October 1, 2020 and a seller would be required to collect TCS only if his turnover exceeds Rs 10 crore in the last financial year. Moreover, the export of goods has been exempted from the applicability of the provisions of TCS, it added. ...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

Officials said the media arm of the Sambhaav group comprises electronics, digital as well as print media. ...More

Officials said the media arm of the Sambhaav group comprises electronics, digital as well as print media. Its real estate arm comprises affordable housing projects and urban civic infrastructure, the CBDT said. ...Less

CBDT said that some defaulter companies and vested interests were misleading to thwart action against the ...More

CBDT said that some defaulter companies and vested interests were misleading to thwart action against themselves. ...Less

Kapur, a 1978-batch officer of the Income Tax cadre, is currently serving as Member of Legislation and Co ...More

Kapur, a 1978-batch officer of the Income Tax cadre, is currently serving as Member of Legislation and Computerisation and Income Tax in the CBDT. ...Less

Finance Minister Pranab Mukerjee today asked the CBDT and the CBEC to increase tax collection targets by ...More

Finance Minister Pranab Mukerjee today asked the CBDT and the CBEC to increase tax collection targets by 10 per cent for the current fiscal. ...Less

The tax department said it has till date issued nearly 14 lakh refunds up to Rs 5 lakh each in order to h ...More

The tax department said it has till date issued nearly 14 lakh refunds up to Rs 5 lakh each in order to help taxpayers in Covid-19 pandemic situation. Keeping its focus on providing relief to the small businesses in MSME sector, CBDT will further issue refunds of Rs 7,760 crore earliest possible. ...Less