Tag: income tax department
E-filing portal to facilitate compliance under both tax laws during transition: I-T Dept
New Delhi: The Income Tax department on Monday said its e-filing portal will facilitate compliance under the old and Income Tax Acts, and all assessments,…
New Income Tax Act 2025 to prioritize simplicity and stakeholder engagement, says FM Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman stated on Friday that the government is moving beyond merely simplifying legislation to actively involving the public in the tax…
Overseas crypto earnings of moonlighters under I-T lens
NEW DELHI: The income-tax department has detected cases of professionals moonlighting for overseas firms and receiving payments in cryptocurrencies that were not disclosed in their…
New Income Tax Rules 2026 likely to be notified in first week of March: CBDT sources
The draft rules and forms will remain in the public domain for 15 days, until February 22, 2026. The Income Tax Department had invited stakeholders…
Taxman seeks to invoke GAAR against Jane Street
Mumbai: The taxman is closing in on the US investor group Jane Street which is in regulatory crosshairs in India for allegedly manipulating security prices…
Season’s Greeting? Taxman turns New Year party pooper
Mumbai: The unforeseen ‘do not reply’ emails hitting inboxes of taxpayers who may have been on a tiger safari in Pench, or sunbathing on a…
India revamps tax regime in 2025, new I-T Act to take effect from April 1
New Delhi: India overhauled its tax regime in 2025 with sharp cuts in Goods and Services Tax (GST) rates and a higher income tax exemption…
Corp tax kitty surpasses personal I-T as gross direct tax crosses Rs 20 lakh crore
Corporation tax collections have overtaken personal income tax receipts so far this fiscal, underlining stronger corporate earnings even as individual tax growth remains muted. Gross…
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…