Income Tax News

Revised Income Tax Bill Empowers Authorities to Access Digital Assets During Search Operations

14 August 2025 at 08:42

The updated Income Tax Bill 2025 expands Section 132, granting tax officials controlled access to digital data including emails, crypto and cloud storage, during authorised search and seizure operations.

Posted in Income Tax | 1020 Views

Income Tax Bill 2025: Full Tax Exemption on Commuted Pension for All Eligible Pensioners

14 August 2025 at 08:38

The Income Tax Bill 2025 brings major relief to pensioners by exempting commuted pension from tax for both government and private sector investors in approved pension funds, effective April 2026.

Posted in Income Tax | 2595 Views

Rajya Sabha Passes New Income Tax Bill 2025 by Voice Vote to Replace Six-Decade-Old Act

13 August 2025 at 09:35

Parliament passes New Income Tax Bill 2025 and Taxation Laws (Amendment) Bill to modernise India's direct tax regime, replacing the Income Tax Act, 1961 with updated provisions for individuals and businesses.

Posted in Income Tax | 1 comments | 3672 Views

Income Tax Bill 2025: Refunds for Belated Returns, House Property Deduction Clarified

13 August 2025 at 09:16

Lok Sabha passed the Revised Income Tax Bill, 2025, clarifying tax refund eligibility for late-filers and standard deduction computation on house property, effective April 1, 2026.

Posted in Income Tax | 2391 Views

JioFinance App Launches Rs 24 Self-Service ITR Filing Feature

12 August 2025 at 17:25

JioFinance App, with TaxBuddy, launches a new ITR filing feature offering regime comparison, deduction mapping & expert-assisted tax planning.

Posted in Income Tax | 3363 Views

Income Tax Department Warns Taxpayers Against Phishing Emails Promising Refunds

12 August 2025 at 09:18

Income Tax Department warns taxpayers about phishing emails promising refunds from fake address donotreply@incometaxindiafilling.gov.in; advises not to click suspicious links and report scams.

Posted in Income Tax | 1245 Views

Taxation Laws (Amendment) Bill, 2025 Introduced in Lok Sabha

12 August 2025 at 09:04

The Taxation Laws (Amendment) Bill, 2025, introduced in Lok Sabha by FM Nirmala Sitharaman, proposes tax exemptions for Unified Pension Scheme payouts, enhances standard deduction and refines search case block assessments.

Posted in Income Tax | 3717 Views

FM Sitharaman introduces Revised Income Tax (No. 2) Bill, 2025 in Lok Sabha

11 August 2025 at 15:13

The Income-tax (No. 2) Bill, 2025, introduced in Lok Sabha, proposes a comprehensive overhaul of India's direct tax laws from April 1, 2026, with simplified provisions, updated definitions, modern compliance and stronger anti-avoidance measures.

Posted in Income Tax | 7695 Views

IT Department Charges Hyderabad Techies for Misusing ITR-U in Rs 2.22 Crore Fraud

11 August 2025 at 09:04

Hyderabad Income Tax Department prosecutes two IT professionals for Rs 2.22 crore tax fraud, alleging misuse of ITR-U facility to insert new bogus deductions after being flagged.

Posted in Income Tax | 37839 Views

Rajasthan Police Warns of Rising Online Frauds During ITR Filing Season

11 August 2025 at 08:52

Rajasthan Police warns of rising online scams during ITR filing season, with fraudsters using fake refund offers and phishing links to steal taxpayer data.

Posted in Income Tax | 282 Views