Income Tax Department of India: News
ITR-3 form is now live online: Who should file it?
The Income Tax Department has enabled the online filing of Income Tax Return (ITR) Form-3 on its e-filing portal.
Income tax code for influencers announced: What changes for them?
The Income Tax Department has introduced a new profession code, 16021, specifically for social media influencers. This is the first time that the department has recognized this category separately.
Attention! These emails about 'PAN 2.0' might steal your data
The Indian government has issued a warning against a new phishing scam targeting unsuspecting citizens.
I-T Department detects new tax fraud as deductions reshuffled post-revision
The Income Tax (I-T) Department has unearthed new cases of fraudulent tax deductions, even after taxpayers were given a chance to revise their returns.
Income tax refunds jump 474% in 11 years—outpacing collection growth
India's income tax refunds have skyrocketed by a whopping 474% over the past 11 years, reaching ₹4.77 lakh crore in FY 2024-25.
ITR‑2, ITR‑3 Excel forms released—Are you required to file one?
The Income Tax Department has launched the Excel utilities for ITR-2 and ITR-3 for Assessment Year 2025-26.
I-T department eyes probe into Jane Street after SEBI ban
The Income Tax (I-T) department is mulling a probe into US-based trading firm Jane Street, after allegations of market manipulation by the Securities and Exchange Board of India (SEBI).
Tax rules for NRI children earning interest in India
When Indian-origin children move abroad and become Non-Resident Indians (NRIs) for tax purposes, their income earned in India comes under the scrutiny of Indian tax authorities. This includes interest on bank accounts.
Online filing of ITR-1 and ITR-4 now live—Who can apply?
The Income Tax Department has enabled online filing of ITR-1 and ITR-4 forms for the financial year 2024-25 (Assessment Year 2025-26).
Protean eGov shares plunge 34%: Should you sell or hold?
Protean eGov Technologies Ltd's shares have plummeted over 34% in just two trading sessions.
Dr. Reddy's slapped with ₹2,400cr tax notice by I-T authority
Dr. Reddy's Laboratories has received a show-cause notice from the income tax authorities.
IT department issues notice to Prithviraj Sukumaran: Here's why
Amid the several controversies surrounding his latest directorial L2: Empuraan, actor-director Prithviraj Sukumaran has received a notice from the Income Tax (IT) department.
FY26 begins today: How new slabs affect your income tax
India's new income tax regime comes into effect today, marking a major shift in the country's fiscal policy.
Income Tax deadline today: Finish these tasks to avoid penalties
As the financial year 2024-25 comes to an end today, taxpayers are reminded of important tasks that need to be finished to avoid penalties, interest charges, or loss of tax benefits.
IndiGo to contest ₹944cr tax penalty imposed by IT department
IndiGo's parent company, InterGlobe Aviation Ltd, has been slapped with a hefty ₹944.20 crore penalty by the Income Tax (I-T) department.
File updated ITR before March 31 deadline: Here's how
The Income Tax Department has launched a new form, ITR-U, for taxpayers to file updated Income Tax Returns (ITR).
Why super-rich Indians are facing ED and I-T's probe
The Enforcement Directorate (ED) and Income Tax (I-T) Department are reportedly intensifying their probe against Indian high-net-worth individuals (HNIs) with undisclosed foreign assets.
Income Tax Bill 2025: All major changes coming for taxpayers
The Indian government is gearing up to introduce the new Income Tax Bill 2025, which will replace the existing Income Tax Act of 1961.
Income Tax Bill 2025 to redefine taxation on online gaming
The new Income Tax Bill should be introduced in the Parliament tomorrow.
No AY, FY! Income Tax Bill simplifies tax year terminology
The Indian government will introduce the new Income Tax Bill 2025 in the Lok Sabha on February 13.
New Income Tax Bill to replace 1961 Act: What's changing
The Union Cabinet, led by Prime Minister Narendra Modi, has approved a new Income Tax Bill.
Union Cabinet likely to approve new Income Tax bill tomorrow
The new Income Tax bill is likely to be approved in a Union Cabinet meeting tomorrow, India Today reported citing anonymous sources.
Relief for taxpayers: Income tax exemption limit increased to ₹4L
The Union Budget for the fiscal year 2025-26 has brought a major change in the income tax structure. The basic exemption limit under the new tax regime has been increased from ₹3 lakh to ₹4 lakh.
Budget 2025: Annual income up to ₹10L may become tax-free
The new tax regime is likely to undergo major changes in the upcoming Union Budget 2025-26, a Business Standard report said.
'Game Changer' producer Dil Raju faces IT raids in Hyderabad
The Income Tax Department has launched raids on the properties of Game Changer producer Dil Raju in Hyderabad.
Modi government to introduce new income tax bill in Parliament
The Indian government is all set to introduce a new income tax bill in the upcoming Budget session of Parliament, as per PTI.
Budget 2025: Joint taxation for married couples could be introduced
The Union Budget 2025 could bring a major overhaul to India's taxation system with the introduction of joint taxation for married couples.
How 'royalty income' is Taxed in India: Key rules explained
Earning money from intellectual property? Wondering how royalties are taxed in India?
Modi government denies using Digi Yatra to catch tax evaders
The Indian government has denied allegations that the Digi Yatra app, a travel initiative using facial recognition technology, will be leveraged by the Income Tax Department to target tax evaders.
Deadline for settling I-T disputes without penalties extended: Check date
The Income Tax Department has announced an extension to the deadline for the Vivad Se Vishwas Scheme 2024.
January 2025 tax calendar: Key deadlines you shouldn't miss
As we enter the new year, it's important to note the tax-related deadlines for January 2025. Timely compliance with these dates is imperative to avoid penalties and interest charges.
I-T relief expected in 2025: Which income group will benefit?
The Indian government is reportedly considering a reduction in income tax rates for the upcoming 2025-26 Union Budget, particularly for individuals earning up to ₹15 lakh annually.
Want to resolve tax dispute? Avail this scheme before year-end
The Direct Tax Vivad Se Vishwas Scheme, announced in Budget 2024, is a government scheme to resolve pending tax disputes.
Attention taxpayers! Disclose foreign income ASAP or hefty face penalty
The Income Tax Department has reminded taxpayers to disclose any undisclosed foreign income or assets before the year ends.
Deciphering key income tax provisions for Indian taxpayers
Understanding the intricacies of the Income Tax Act in India is crucial for taxpayers to maintain compliance and optimize their tax liabilities efficiently.
How to get a new PAN card instantly on email
The Income Tax Department has launched a new facility for taxpayers, allowing them to get their Permanent Account Number (PAN) through email.
Net direct tax collection surges to ₹11.26L crore in FY24-25
India's net direct tax collection for the fiscal year 2024-25, has jumped by a whopping 18.35% to nearly ₹11.26 lakh crore till October 10, data from the Central Board of Direct Taxes (CBDT) showed.
You can now suggest changes to Income-tax Act, 1961
The Central Board of Direct Taxes (CBDT) has constituted an internal committee to carry out an exhaustive review of the Income-tax Act, 1961.
Income Tax audit report submission date extended: Check new deadline
The Central Board of Direct Taxes (CBDT) has extended the deadline for filing various audit reports, including the income tax audit report, for the previous year 2023-24.
Why thousands of TCS employees have received tax demand notices
A significant number of Tata Consultancy Services (TCS) employees have received tax demand notices from the Income Tax Department.
Advance tax deadline on September 15: Who needs to pay?
The deadline for the second installment of advance tax for FY 2024-25 is fast approaching, with the due date set for September 15.