More than 50 lakh income tax returns were revised after the tax department flagged incorrect deduction claims under Section 80G, reducing refund claims by Rs 2,000 crore, CBDT chief said.
A parliamentary committee has flagged rising delays in income tax refunds, revealing that nearly 27 lakh cases exceeded the 90-day limit in FY 2025-26, while outstanding direct tax arrears reached Rs 47.42 lakh crore.
Taxpayers are advised to ignore earlier incorrect emails on significant transactions under the Advance Tax e-Campaign and verify details on the Compliance Portal.
Government renames Personal Income Tax as Non-Corporate Tax from FY 2025-26. NCT collections reached Rs 12.35 lakh crore in FY 2024-25, growing 18.23%, Finance Ministry informs Rajya Sabha.
SBI Life Insurance has received an income tax demand of Rs 537.75 crore for FY24 from the Income Tax Department. The insurer plans to file an appeal against the assessment order.
President Murmu asked IT officers to balance enforcement with facilitation while ensuring fairness, transparency and efficiency in tax administration.
Following directions from the Income Tax Department of India, NSE has asked brokers and sub-brokers to report excess STT collected and deposit it with interest...
ICAI releases a detailed study on taxation of the digital economy, examining nexus challenges, digital services taxes and global tax reforms affecting digital businesses.
The Income Tax Department uncovers Rs 408 crore in suppressed sales after surveying 62 restaurants across 46 cities. Under the SAKSHAM NUDGE campaign, 63,000 restaurants have been asked to update their tax returns before 31 March 2026.
Two youths posing as Income Tax officers attempted a fake raid at a residence but were caught by Ramnagar police after locals verified their credentials.
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