Tag: direct tax
Government tightens tax framework for foreign digital entities
New Delhi: India has proposed to tighten the tax and reporting framework for the digital entities by sharpening the definition of significant economic presence (SEP),…
India’s FY26 tax collections remain weak, FY27 may be a different story: CareEdge Ratings
New Delhi: The central government’s tax collections have remained weak so far in the ongoing financial year 2025-26 (FY26), with growth significantly lower than budgeted…
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)…
Refunds delay: CBDT Chairman says I-T dept analysing wrongful claims; payouts likely by Dec
New Delhi: CBDT Chairman Ravi Agrawal on Monday said the tax department is undertaking an analysis of wrongful deductions claimed in certain cases, leading to…
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…
India’s net direct tax collection rises 6.33% to over ₹11.89 lakh crore till October 12
India’s net direct tax revenue climbed 6.33 per cent to over ₹11.89 lakh crore in the current fiscal year (till October 12), driven by stronger…
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…
CBIC allows 90% provisional refund for IDS claims
New Delhi: The Central Board of Indirect taxes and Customs (CBIC) has instructed its field formations to sanction 90% of the refund amount claimed on…
CBIC asks staff to track prices before, after GST cut
New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) has asked its field officials across the country to collect information from dealers and…
I-T portal glitch triggers penalty woes for companies
Mumbai: Many companies are staring at steep penalties with the Income Tax (I-T) portal rejecting their advance tax payment due to a technical hitch. Their…