Income Tax News

CBDT Notifies Tax Exemptions for Odisha PCB, Haryana Technical Education Board & Odisha RERA Under Section 10

28 November 2025 at 06:22

CBDT notifies SPCB Odisha, HSBTE Panchkula and Odisha RERA for income-tax exemptions under Section 10, covering statutory fees, grants, and related revenues. Notifications apply retrospectively and prospectively from 2023-2029.

Posted in Income Tax | 153 Views

CBDT launches 2nd NUDGE initiative to strengthen voluntary compliance in respect of Foreign Assets

28 November 2025 at 06:22

CBDT launches the 2nd NUDGE initiative, sending SMSs and emails from 28 Nov 2025 to taxpayers flagged for unreported foreign assets. Individuals are advised to review and revise ITRs by 31 Dec 2025 to avoid penalties.

Posted in Income Tax | 1422 Views

UPS Option Deadline Nears: Govt Urges NPS Subscribers to Apply by 30th Nov 2025

27 November 2025 at 06:09

The last date to opt for the Unified Pension Scheme (UPS) is Nov 30, 2025. Govt urges eligible NPS subscribers to apply online or via nodal offices.

Posted in Income Tax | 153 Views

Supreme Court Issues Notice on Plea Challenging Income Tax Exemption for Cash Political Donations up to Rs 2000

25 November 2025 at 06:16

The Supreme Court has issued notice on a petition challenging Section 13A(d) of the Income Tax Act, which allows political parties to accept cash donations up to Rs 2,000 without revealing donor identity.

Posted in Income Tax | 1566 Views

CBDT Releases Time Series Data for FY 2000-01 to FY 2024-25: Direct Tax Collections Jump to Rs 22.26 Lakh Crore

24 November 2025 at 06:57

India's direct tax collections hit a record Rs 22.26 lakh crore in FY 2024-25 as per CBDT data, with the tax-to-GDP ratio rising to 6.73% and taxpayers exceeding 12 crore.

Posted in Income Tax | 2250 Views

Finance Ministry Notifies Voluntary Aadhaar Authentication for PFMS Mobile App Users

22 November 2025 at 09:14

Finance Ministry allows voluntary Aadhaar authentication for PFMS app users with alternative ID options like bank OTP verification.

Posted in Income Tax | 255 Views

Capital Market Bodies Urge STT Cut, Reforms in Pre-Budget Meeting With FM Sitharaman

22 November 2025 at 06:33

Capital market representatives have sought lower STT, market inclusion measures and deeper reforms during a pre-Budget meeting with Finance Minister Nirmala Sitharaman.

Posted in Income Tax | 768 Views

Capital Gains Tax Relief Process Simplified Under New 2025 Amendment Scheme

20 November 2025 at 09:35

The Finance Ministry has notified the Capital Gains Accounts (Second Amendment) Scheme, 2025, introducing digital payments, electronic statements, and mandatory online account closure from April 1, 2027.

Posted in Income Tax | 33057 Views

CBDT Expands Capital Gains Account Scheme: 19 More Banks Authorised Nationwide

20 November 2025 at 09:27

The Central Government has authorised all non-rural branches of 19 major banks including HDFC, ICICI, Axis, Kotak and Bandhan Bank to operate the Capital Gains Account Scheme (CGAS), 1988, easing access for taxpayers seeking capital gains tax exemptions.

Posted in Income Tax | 4104 Views

Unclaimed Money Awareness Drive: Key Camps Scheduled in Mumbai on November 21

20 November 2025 at 09:11

Maharashtra's SLBC will hold special camps on Nov 21 in Mumbai City and Suburban to help citizens verify and claim unclaimed deposits, shares, insurance, and other inactive financial assets.

Posted in Income Tax | 138 Views