Income Tax News

ITR-5 and ITR-7 Now Enabled for Online Filing for AY 2025-26, Offline Utility Available for ITR-7

22 September 2025 at 08:39

The Income Tax Department has enabled ITR-5 and ITR-7 for online filing with prefilled data for AY 2025-26. The offline utility for ITR-7 is also available for download to simplify tax compliance.

Posted in Income Tax | 165 Views

Direct Tax Collections Rise 9% to Rs 10.82 Lakh Crore in FY26 So Far

20 September 2025 at 08:58

India’s net direct tax collections rose 9% to Rs 10.82 lakh crore till Sept 17, 2025. Corporate and non-corporate tax payments drove growth, while refunds fell nearly 24%.

Posted in Income Tax | 126 Views

ICAI Requests CBDT to Extend ITR Deadlines and Align Specified Dates

18 September 2025 at 17:09

The ICAI has urged CBDT to extend ITR deadlines, align specified dates under section 44AB and allow auto-renewal for small charitable trusts.

Posted in Income Tax | 46218 Views

IT Department Sees Record Surge with Over 7.3 Crore ITRs Filed for AY 2025-26

18 September 2025 at 08:20

A record of over 7.3 crore ITRs were filed by Sept 15. CBDT extended deadline to Sept 16 amid heavy portal traffic and taxpayer complaints of glitches.

Posted in Income Tax | 96 Views

CBDT and its Subordinate Offices to undertake Special Campaign 5.0 for Swachhata and Efficiency

18 September 2025 at 08:20

Govt launches Special Campaign 5.0 (Oct 2-31, 2025). CBDT to focus on swachhata, e-waste disposal, record management, and grievance redressal.

Posted in Income Tax | 72 Views

CBDT Issues SOP for Taxing Capital Gains on JDAs Under Section 45(5A)

18 September 2025 at 08:19

CBDT issues SOP for assessing capital gains on Joint Development Agreements under Section 45(5A), adopting the successful Kolkata model nationwide.

Posted in Income Tax | 7710 Views

Income Tax Department Targets CAs in Rs 2000 Crore Political Funding Tax Evasion Case

16 September 2025 at 08:56

Jharkhand Income Tax Department seeks CBDT approval to cancel licences of chartered accountants involved in facilitating Rs 2000 crore political funding tax evasion.

Posted in Income Tax | 4023 Views

CBDT Grants One-Day Extension for ITR Filing for AY 2025-26 to 16th September 2025

16 September 2025 at 05:39

CBDT has further extended the ITR filing due date for AY 2025-26. Returns, originally due on July 31 and then September 15, can now be filed till September 16, 2025.

Posted in Income Tax | 4092 Views

Pune Tax Professionals Booked in Rs 500 Crore Bogus ITR Deduction Scam

12 September 2025 at 09:06

The Income Tax Department has unearthed a Rs 500 crore ITR fraud in Pune, involving bogus deductions and over 10,000 fake returns filed by tax professionals.

Posted in Income Tax | 4221 Views

ICAI Requests FM Sitharaman for Extension of Tax Audit Report Deadline to 31st December 2025

11 September 2025 at 10:06

ICAI requests extension of tax audit report filing deadline to 31st Dec 2025 due to operational challenges.

Posted in Income Tax | 102108 Views