Income Tax News

Fake Income Department Tax Mail Leads to Rs 60 Lakh Cyber Fraud at Ahmedabad Company

14 October 2025 at 06:39

An Ahmedabad firm lost Rs 60 lakh after fraudsters sent a fake Income Tax email, installed malware, and tricked staff via WhatsApp spoofing.

Posted in Income Tax | 1359 Views

NITI Aayog Urges Decriminalisation of Minor Tax Offences Under New Income Tax Act, 2025

13 October 2025 at 06:34

NITI Aayog's new paper urges decriminalising minor offences under the Income-tax Act, 2025, to promote trust-based tax governance. Learn how the proposed reforms aim to simplify compliance and reserve prosecution only for serious tax evasion cases.

Posted in Income Tax | 291 Views

ITAT Mumbai Quashes Rs 1 Crore Tax Demand Over TDS Mismatch, Reaffirms Protection Under Section 205

11 October 2025 at 06:42

ITAT Mumbai rules that TDS credit cannot be denied solely due to mismatch in Form 26AS; upholds Section 205 protection preventing double taxation and directs tax officers to rely on primary evidence.

Posted in Income Tax | 1551 Views

CJI Flags Rs 6.85 Lakh Crore in Pending Income Tax Disputes Before ITAT, Calls for Structural Reforms

11 October 2025 at 06:41

Chief Justice of India B.R. Gavai highlights Rs 6.85 lakh crore pending tax disputes before ITAT, urges reforms in appointments, training and consistency to boost tribunal efficiency and credibility.

Posted in Income Tax | 1164 Views

Government Fixes Major Security Flaw in Income Tax Portal, Prevents Data Leak

09 October 2025 at 06:50

Government averts massive data breach by fixing a security flaw in the Income Tax portal after researchers flagged an IDOR vulnerability exposing taxpayer data...

Posted in Income Tax | 1818 Views

Supreme Court Clarifies Tax on Works Contracts: Printing Materials to Attract Trade Tax

09 October 2025 at 06:49

SC verdict clarifies that goods used in executing printing contracts, including ink and chemicals, fall within the scope of taxable transfers under the U.P. Trade Tax Act, 1948.

Posted in Income Tax | 1764 Views

CBDT Clarifies Gold Jewellery Limits: Pune Households Must Know

09 October 2025 at 06:49

CBDT clarifies how much gold jewellery you can legally own without risking seizure during income tax searches. Learn safe limits for men, married and unmarried women in Pune, documentation rules for excess holdings, and tax implications when selling gold.

Posted in Income Tax | 3672 Views

India's Fiscal Deficit on Track for FY26, but Slowing Tax Revenues Raise Concerns

08 October 2025 at 06:40

India is on track to meet its FY26 fiscal deficit target of 4.4% of GDP, but slowing income tax and GST revenues raise concerns. Analysts flag risks amid government borrowing plans and expenditure trends.

Posted in Income Tax | 171 Views

IT Department Releases Updated ITR-5 and ITR-6 Utilities for AY 2025-26

06 October 2025 at 07:14

CBDT releases updated ITR-5 and ITR-6 utilities for AY 2025-26 on Oct 2, 2025, improving accuracy, validation, and ease of income tax filing.

Posted in Income Tax | 195 Views

Income Tax Department to Launch Nudge Campaign on Joint Development Agreements

04 October 2025 at 06:54

The Income Tax Department plans a nudge campaign targeting landowners under joint development agreements (JDAs) who have not paid capital gains tax.

Posted in Income Tax | 2712 Views