Income Tax News

CBDT Notifies New Tax Rules: 6-Year Extension Under Section 10(23FE)

02 September 2025 at 08:51

CBDT extends tax exemption timelines under Section 10(23FE) by 6 years through the Income-tax (25th Amendment) Rules, 2025, aiding global funds.

Posted in Income Tax | 2952 Views

Supreme Court Quashes Prosecution, Fines IT Department Rs 2 Lakh for Ignoring CBDT Circulars

01 September 2025 at 09:01

Supreme Court quashes prosecution against Vijay Krishnaswami, slams Income Tax Department for ignoring CBDT circulars; imposes Rs 2 lakh cost.

Posted in Income Tax | 37566 Views

CBDT to Finalise Rules for New Income Tax Act, 2025 by Year-End, Digital Data SOP Soon

28 August 2025 at 09:16

CBDT is drafting simplified rules and forms under the Income Tax Act, 2025, set to apply from April 1, 2026. A new SOP for digital data handling during surveys and searches will also be released, alongside the introduction of the 'tax year' concept.

Posted in Income Tax | 2895 Views

Income Tax Act 2025 Explicitly Empowers Digital Search & Seizure: CBDT Member Clarifies

28 August 2025 at 08:51

CBDT Member R.N. Parbat says digital search and seizure under Income Tax Act 2025 is vital to trace hidden income and assets online.

Posted in Income Tax | 4293 Views

CBDT Panel Recommends Tougher Benami Law With Wider Data Access for IT Department

26 August 2025 at 09:38

Centre may tighten Benami law with Aadhaar, property, and vehicle data access for tax officials, stricter rules for shell firms and dummy directors.

Posted in Income Tax | 1479 Views

Income Tax Raids NGOs Across 6 States, Uncover Rs 800 Crore CSR Fund Misuse

26 August 2025 at 09:21

Income Tax raids on NGOs across 6 states expose Rs 800 crore CSR misuse and Rs 10,000 crore bogus remittances abroad; probe still underway.

Posted in Income Tax | 579 Views

ITAT Patna Grants Tax Relief on Rs 4.5 Crore Property Sale Despite Filing Error

25 August 2025 at 09:10

ITAT Patna grants major relief to taxpayer, allowing Rs 4.5 crore property sale exemption despite the wrong section being claimed. Tribunal rules substance over form, citing CBDT's 1955 circular.

Posted in Income Tax | 1773 Views

Police Arrest Four for Impersonating Income Tax Officers, Extorting Citizen at Gunpoint

25 August 2025 at 09:03

Surendranagar police arrested four men posing as income tax officers for extorting valuables at gunpoint. Cash, gold, and SUVs worth over Rs 24 lakh seized; three accused still absconding.

Posted in Income Tax | 312 Views

President Gives Assent to The Income Tax Bill 2025 and The Taxation Laws (Amendment) Bill 2025

22 August 2025 at 09:26

The President has given assent to the Income Tax Bill 2025 and the Taxation Laws (Amendment) Bill 2025, marking a major step in India's direct tax reforms aimed at simplifying compliance and strengthening tax administration.

Posted in Income Tax | 3732 Views

CBDT Notifies Key Changes to Rule 21AIA with Section 10(4D) of Income Tax Act

22 August 2025 at 09:04

CBDT notifies the Income-tax (Twenty-Fourth Amendment) Rules, 2025, revising Rule 21AIA on specified funds by omitting sub-rule (4) and redefining the term in line with Section 10(4D) of the Income Tax Act.

Posted in Income Tax | 387 Views