Tag: central board of direct taxes
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…
Tracking hidden info: Income tax to change tack
A hitherto ignored feature in corporate law will be used by tax sleuths to fish out data tucked away in servers and entities outside the…
ITR filing last date NOT extended: Income Tax Department debunks fake news
The Income Tax Department on Sunday dismissed claims about extending the deadline for filing Income Tax Returns beyond September 15. Addressing the fake news being…