Tag: central board of direct taxes
New I-T rules, forms by March; Income Tax Act to take effect from April 1, 2026
New Delhi: The income tax department will notify the new income tax rules and forms by the first week of March, officials said, paving the…
Govt to form panel to align tax, accounting rules and cut India Inc compliance burden
New Delhi: The corporate affairs ministry and Central Board of Direct Taxes (CBDT) will jointly set up a panel by March-end to pursue aligning tax…
61,000 crorepati taxpayers added in last one year
New Delhi: India added 61,000 new crorepati taxpayers in the last one year, taking the total number of individuals with taxable income of ₹1 crore…
CBDT flags bogus claims on political and charitable donations
New Delhi: The Central Board of Direct Taxes Saturday said it has found widespread misuse of tax deductions linked to political donations and charitable contributions…
CBDT NUDGE 2: Over 25,000 taxpayers to receive alerts on foreign assets; Check details to avoid penalties
The Central Board of Direct Taxes (CBDT) on Thursday announced the launch of the second phase of its NUDGE initiative, designed to strengthen voluntary compliance…
Income Tax dept identifies cases of non-disclosure of foreign assets in ITRs, to start sending SMS/emails
The Income Tax department on Thursday said it has identified “high-risk” cases where individuals have not reported foreign assets in the income tax returns (ITRs)…
Hopeful of meeting FY26 direct tax collection target: CBDT Chairman
Central Board of Direct Taxes (CBDT) chairman Ravi Agrawal on Monday hoped that the budgeted income tax collections for FY26 at Rs 25.20 lakh crore…
CBDT retains tolerance level of transfer pricing at 1% for AY 2025-26
The Central Board of Direct Taxes (CBDT) has retained the tolerance range for transfer pricing at 1% for wholesale trading and 3% for other transactions…
Direct tax collection Increases 6.3% to ₹11.9 lakh cr in FY26 so far
India’s net direct tax collections grew 6.33% year-on-year to ₹11.89 lakh crore in the April 1-October 12 period, showed data released by the Central Board…
Offshore Binance wallets under scanner as I-T dept acts against undisclosed crypto profits
Mumbai: More than 400 well-heeled individuals across India will be pulled up by the tax authorities for hiding their crypto trades on Binance, the world’s…