Central Board of Direct Taxes (CBDT): News

Income Tax Department sets FY25 Cost Inflation Index at 363

The Income Tax Department has released the Cost Inflation Index (CII) for the fiscal year (FY) beginning in April 2024.

How to use Income Tax Department's new real-time feedback updates

The Income Tax Department of India, has announced a new feature in its Annual Information Statement (AIS), that offers taxpayers real-time updates on their feedback status.

21 Apr 2024


India's direct tax collections surged by 17.7% in FY2024

India's fiscal year ending in March 2024, witnessed a significant increase of 17.7% in net direct tax collections, reaching ₹19.58 crore, according to the tax department.

01 Jan 2024

Income Tax Return

ITRs filed in 2023-24 increase by 9% to record 8.18cr

India experienced a significant 9% increase in income tax returns filed, with a record 8.18 crore submissions by December 31, 2023, compared to 7.51 crore during the same period in 2022.

11 Oct 2023


Direct tax collections in India surge 21.8% in FY24 

India's direct tax collections have soared by 21.82% year-on-year, hitting Rs. 9.57 lakh crore in the current fiscal year (2023-24) up to October 9.

35 lakh income tax refunds delayed in India: Here's why

Income tax refunds for around 35 lakh taxpayers are currently "held up" due to mismatch and validation issues with their bank accounts, as per Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta.

06 Jun 2023


BBC admits to paying lower taxes in India: Report

The British Broadcasting Corporation (BBC) has acknowledged that it may have paid lower taxes in India than its liability, the Hindustan Times reported, citing Central Board of Direct Taxation (CBDT) officials.

24 Feb 2023


Report fearlessly: BBC director-general to India staff after tax 'survey'

Days after the tax "survey" at the BBC offices in Delhi and Mumbai, the global media giant's director-general, Tim Davie, wrote an email to its staff in India, asking them to report without fear or favor.

31 Oct 2022

Central Government

How much gold can Indians legally store at home?

India has always been obsessed with gold, and people adore the precious metal for investment purposes and cultural reasons, too.

Income Tax Returns deadline extended to March 15

The central government on Tuesday extended the due date for filing Income Tax Returns for Assessment Year 2021-22 to March 15, 2022.

05 Oct 2021

Ministry of Finance

Pandora Papers: Government orders multi-agency probe led by CBDT

The Centre on Monday ordered a multi-agency probe to investigate the revelation made by media organizations, dubbed the "Pandora Papers," about the hidden wealth of global elites, including 380 Indians, in offshore accounts.

25 Sep 2021


I-T department raids Gujarat diamond group, claims multi-crore tax evasion

The CBDT on Saturday said the Income Tax Department has detected tax evasion worth crores of rupees in raids on Gujarat's leading diamond manufacturer and exporter.

09 Sep 2021


CBDT extends deadline for Income Tax Returns till December 31

The Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITRs) for the assessment year 2021-22 till December 31.

14 Jul 2021


IT department surveys Bengaluru company; detects Rs. 880cr hidden income

The Income Tax Department has detected "concealment" of Rs. 880 crore income after it surveyed the Bengaluru premises of a leading manpower service providing company, the Central Board of Direct Taxes (CBDT) said on Tuesday.

TN: IT department seizes over Rs. 16 crore dubious cash

The Income Tax Department has seized "unaccounted" cash of over Rs. 16 crore and detected black income of about Rs. 80 crore after it raided multiple entities in poll-bound Tamil Nadu, the Central Board of Direct Taxes (CBDT) said on Friday.

24 Oct 2020


FY2019-20 ITR deadline revised: Late filing fees, penalties, and more

The last date for filing income tax returns (ITRs) for assessment year (AY) 2020-21, which is the financial year (FY) 2019-20, has been extended by the government to December 31 for individual taxpayers.

24 Oct 2020

Ministry of Finance

Income tax return filing deadline extended till December 31

The Finance Ministry on Saturday announced that the deadline for filing income tax returns (ITRs) for the financial year (FY) 2019-20 for individual taxpayers has been extended by a month till December 31.

13 Aug 2020

Narendra Modi

PM Modi launches Transparent Taxation platform for honest taxpayers

In a move aimed at helping honest taxpayers, Prime Minister Narendra Modi on Thursday launched the "Transparent Taxation - Honoring The Honest" platform.

08 Jun 2020


#CareerBytes: How to become an Income Tax Inspector in India?

Government jobs are a dream for many and are the most preferred career option for a lot of youngsters in the country.

23 Dec 2019


#CareerBytes: How to become an Income Tax Inspector in India?

Government jobs are a dream for many and are the most preferred career option for a lot of youngsters in the country.

12 Sep 2019


Do NRIs need to link their PAN with Aadhaar?

According to government's notification, it is mandatory to link PAN and Aadhaar latest by September 30, 2019, or your PAN might become invalid.

04 Sep 2019


Automatic PAN generation for taxpayers using Aadhaar to file ITR

The Income Tax department will now issue a Permanent Account Number (PAN) to taxpayers using their Aadhaar number to file Income Tax returns, as a new method to link the two databases.

09 Apr 2019

Madhya Pradesh

After MP raids, I-T detects "well-organized" racket involving Rs. 281cr

A day after Income Tax officials raided residences of aides of Madhya Pradesh Chief Minister Kamal Nath, the body said on Monday that it has detected "widespread" and "well-organized" racket involving Rs. 281 crore.

09 Apr 2019


#FinancialBytes: New income-tax return forms released; Here's everything to know

The Central Board of Direct Taxes (CBDT) released new income tax return (ITR) forms for the Assessment Year 2019-20.

01 Apr 2019


Deadline to link Aadhaar with PAN extended by six months

The Central government has extended the deadline to link Aadhaar with PAN by six months, to September 30, 2019. The previous deadline to link the two IDs was March 31.

01 Mar 2019

Arun Jaitley

CBDT's task force to review direct-tax laws gets 3-month extension

A task force set up under the CBDT to draft a new direct tax law and replace the existing Income Tax Act has been given a three-month extension till May, an official order said.

28 Feb 2019

Jammu And Kashmir

Hard disks, undisclosed expenditure found in terror funding raids

On Wednesday, income tax officials carried out raids on seven places spread across Delhi and Jammu and Kashmir, belonging to the "head of a prominent organization and his associates" who have allegedly been conducting "anti-national" activities.

CBDT chairman Sushil Chandra appointed as new chief election commissioner

Sushil Chandra, the current chairman of the Central Board of Direct Taxes (CBDT), has been appointed as the next chief election commissioner.

05 Dec 2018


#PANCardRules: New PAN rules come into effect today; Details here

The Income Tax Department has introduced some important amendments to the Permanent Account Number (PAN) card rules effective from 5 December 2018.

26 Nov 2018

PAN Card

New PAN card rules will come into effect from December

In a bid to prevent tax frauds, the Income Tax Department has come up with new rules on PAN cards.

04 Nov 2018

Himachal Pradesh

75 lakh new tax-filers added to IT net this fiscal

About 75L new tax filers have been added to the income tax payers list in the country this fiscal till now.

22 Oct 2018


CBDT: From 2014-2018, number of Indian crorepatis rose by 60%

On Monday, the Central Board of Direct Taxes (CBDT) released key tax statistics that indicate that the number of crorepatis in India are going up.

14 Oct 2018


#NewPolicy: Honest, consistent taxpayers might get preferential treatment

The government is reportedly working on a policy that seeks to provide preferential treatment in availing of public services and tax-related services to honest and consistent taxpayers.

12 Sep 2018

Aam Aadmi Party (AAP)

EC threatens action against AAP for discrepancies in electoral-funding reports

Flagging discrepancies in AAP's electoral funding statement, the Election Commission Tuesday threatened the party with action for "prima facie failing" to follow its transparency guidelines.

03 Sep 2018

Maneka Gandhi

Now, mentioning father's name not mandatory in PAN application

In an empowering move, the government is set to make mentioning father's name not-mandatory when applying for a new PAN card.

17 Aug 2018


Income Tax collection at record Rs. 10.03 lakh crore: CBDT

Income Tax collection in the country stood at a record Rs. 10.03 lakh crore during 2017-18.

Fifth extension: Deadline to link Aadhaar-PAN pushed till March'19

The Central Board of Direct Taxes (CBDT) Saturday extended the deadline to link PAN with Aadhaar till March 31, 2019, making it the fifth such extension by the government.

30 Jun 2018

Aadhaar Card

PAN-Aadhaar linking deadline ends today: What happens next

As per the last press release by the Central Board of Direct Taxes (CBDT), the last date for linking PAN and Aadhaar is today i.e. 30th June.

CBDT: Scrutiny of lawmakers' assets can't be made public

The Central Board of Direct Taxes (CBDT) has reportedly told the Election Commission that the scrutiny of assets declared by MPs and MLAs in their poll affidavits cannot be disclosed to the public.

05 Jun 2018


For one RTI query, this man has gotten 1,170 replies

When Madhya Pradesh based Chandrashekar Gaur filed an online RTI query to learn tax arrears in the country, he obviously didn't expect to be flooded with 1,170 replies.

01 Jun 2018


Become an I-T whistle-blower, earn up to Rs. 5cr

Sharing "specific information" with the income tax department about any undisclosed black money stashed abroad could earn you up to Rs. 5 crore.

Income Tax Department launched all 7 ITR forms for e-filing

The Income Tax Department today launched and activated all the seven Income Tax Return (ITR) forms for e-filing by taxpayers, after over a month of them being notified.

19 Apr 2018


Inaccurate I-T return filings by salaried employees under government scanner

Indian government is cracking down on salaried employees who use illegal means such as under-reporting of income or inflating deductions while filing income tax returns (ITRs) to avail maximum tax benefits.

10 Apr 2018


New PAN forms to have independent gender category for transgenders

The government has amended the Income Tax rules that will now allow transgenders to be recognized as an independent category of applicants for obtaining a Permanent Account Number (PAN) for their tax-related transactions.

29 Mar 2018


IT publicly names defaulters owing over Rs. 400 crore taxes

The Income-Tax Department today released a pan-India list of 24 defaulting individuals and companies who owe about Rs. 490 crore in taxes to the exchequer but have either gone untraceable or have reported inadequate assets for payment of dues.

26 Feb 2018


CBDT asks officers to step up tax collection

The Central Board of Direct Taxes (CBDT) has set higher targets for tax collection.

16 Feb 2018


SC: Election candidates, spouses, dependents must disclose sources of income

The Supreme Court has ordered that candidates contesting elections will have to disclose their "sources of income." Not only this, they will have to do so for their spouses, children and any other dependents.

07 Feb 2018


Angel-tax exemption for start-ups with up to Rs. 10cr funding

Start-ups founded before 2016 may finally get an exemption from the much-talked-about Angel Tax, giving them a much-needed relief, reported ET.

06 Feb 2018


Bad news, Bitcoin investors! Your earnings are now taxable

World's largest cryptocurrency Bitcoin plunged a whopping 66% from its all-time high of $19,666 to $6,000 (Rs. 3.8L).

03 Feb 2018


Trouble for people depositing more than Rs. 15lakh during demonetization

Indians who bank-deposited unaccounted cash over Rs. 15 lakh during demonetization are now under government scanner.

25 Dec 2017

India Post

Now, I-T officers can access banking databases to catch defaulters

It is now impossible for the tax defaulters/evaders to escape from the clutches of the Income Tax Department, as the Centre has amended the I-T rules, empowering the tax authority.

09 Dec 2017


Direct Tax Collections rise 14%, hitting Rs. 4.8-lakh-crore till November

In yet another boost to the economy, Central Board of Direct Taxes (CBDT) latest data showed that the Direct Tax Collections for FY 2017-18 recorded a growth of 14.4% between April and November.

30 Nov 2017


How much gold can you legally possess in India?

Gold has always been one of the most preferred forms of jewelry and the safest investment option in India.

15 Nov 2017


300% jump in PAN applications since demonetization: CBDT

Despite widespread criticism, demonetization has had some benefits, like a 300% jump in the number of applications received for Permanent Account Numbers (PAN).

12 Nov 2017


Aadhaar linkage deadlines: Know the complete list

With each passing day, Aadhaar is becoming more and more important as the government has mandated linking of Aadhaar cards for various services, especially in the BFSI (Banking, Financial Services, and Insurance) sector.

07 Nov 2017


Despite it being compulsory, only 39.5% PANs linked with Aadhaar

Only 39.5% of all Permanent Account Numbers (PAN) have been linked with Aadhaar in the 130 days since the government made it a mandatory requirement for filing income tax returns and getting new PAN cards.

12 Sep 2017


CBDT: Huge increase in assets of 98 MLAs, 7 MPs

Reviewing the list submitted by an NGO regarding the asset hikes of certain MLAs and MPs, the Central Board of Direct Taxes (CBDT) found a substantial hike in the assets of seven Lok Sabha MPs and 98 MLAs.

02 Sep 2017


Modi asks tax officials to be friendly towards honest taxpayers

In India, tax officials are usually feared. Maybe it has something to do with the public perception of them.

Finance Ministry celebrates demonetization's success as I-T filings rise

The Finance Ministry announced that, as of 5th August, there had been a 25% increase in e-filing of income tax returns for the current assessment year along with other increases in tax collection.

14 Jul 2017


5.56 lakh people to be probed for cash-deposits during demonetization

In the second phase of Operation Clean Money, the Income Tax Department found that cash transactions of 5.56 lakh more taxpayers in the demonetization window didn't match with their income profiles.

11 Jul 2017

PAN Card

Aaykar Setu: Pay taxes, apply for PAN using FinMin's app

FinMin Arun Jaitley launched 'Aaykar Setu', an app to bridge the gap between a taxpayer and the Income Tax department.

16 May 2017

Arun Jaitley

Arun Jaitley launches online clean money portal

In the latest development in the Centre's Operation Clean Money, Finance Minister Arun Jaitley announced a new online portal to investigate tax evaders.

03 Feb 2017


Retrospective tax relief on FPI indirect tranfers

With retrospective effect from financial year 2011-12, two categories of foreign portfolio investors (FPIs) are exempted from tax on indirect transfers.

15 Dec 2016


CBDT warns against revised I-T returns

India's CBDT tax authorities have issued a warning against those altering their income tax return forms drastically after 8 November.

30 Nov 2016


New tax-levy on content providers

The central government is in the process of introducing a new 'e-service tax' that will impact content providers such as Netflix, Amazon, Apple and several more.

12 Nov 2016


I-T to scrutinize high-value farm income

With Modi's new demonetization move, reports stated that high amounts of farm income that are deposited with banks as farm income will be scrutinized by the tax department.

01 Sep 2016


I-T Department's 'name and shame' policy

As a part of its 'name and shame' policy, the Income Tax Department may soon publish names of taxpayers who have a 'chronic' default of Rs.1 crore and above.