Tag: income tax department
FM Sitharaman asks I-T Department to separate genuine errors from wilful tax evasion
Finance minister Nirmala Sitharaman on Friday asked the Income Tax Department to adopt a more taxpayer sensitive approach, urging officials to ensure that honest taxpayers…
Finance minister Nirmala Sitharaman asks I-T officials to ease burden on honest taxpayers
Finance Minister Nirmala Sitharaman on Friday urged Income Tax officials to ensure convenience for honest taxpayers while taking firm action against tax evasion, stressing that…
Over 1.7 cr ITRs filed for AY 2026-27: I-T deptt
New Delhi: Over 1.7 crore I-T returns have been filed for 2025-26 financial year so far, the Income Tax Department said on Saturday. The last…
Foreign tax data to be included in Form 26AS
New Delhi: The Central Board of Direct Taxes (CBDT) has directed that financial account information received from overseas tax authorities be included in taxpayers’ Form…
Paying tax won’t legitimise cash stashes
Builders, sticky-fingered bureaucrats, and unauthorised money changers are about to be blindsided by the taxman. Unbeknown to most, handling cash hordes has just become tougher….
New Income Tax law aims to build transparent, tech-driven ecosystem for taxpayers: Official
The new Income Tax Act rolled out last month aims to reduce litigation, simplify compliance and build a transparent, technology-driven ecosystem for taxpayers, a senior…
Income Tax Dept tightens disclosure norms under presumptive taxation scheme
New Delhi: The Income-Tax Department is tightening disclosure norms for taxpayers using the presumptive taxation scheme, after detecting cases where reported income did not match…
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…