Income Tax News

ICAI Releases Updated UDIN Portal Manual: New Features for GST, Tax Audit & Certificates

17 December 2025 at 09:28

ICAI has released the updated UDIN Portal Manual (Version 1.2) with key changes in UDIN generation, PAN validation, bulk UDIN, grievance redressal and real-time verification. Know what's new.

Posted in Income Tax | 6453 Views

Income Tax Department Warns Taxpayers Against Fake Refund Messages and Scam Links

17 December 2025 at 07:09

The Income Tax Department cautions taxpayers against fake refund messages and malicious links, advising citizens to rely only on official e-filing portals and authenticated communication channels to avoid online scams.

Posted in Income Tax | 1113 Views

CBDT Reassigns Jurisdiction of Income Tax Appeals for Search and Survey Cases

17 December 2025 at 07:08

CBDT issues a December 2025 notification reallocating jurisdiction of Commissioners of Income Tax (Appeals) for search, seizure, survey, and penalty cases across India, impacting appeals under Sections 246A and 248 of the Income tax Act.

Posted in Income Tax | 1707 Views

Supreme Court Denies 40% Tax Deduction to Statutory Corporations on Non-Lending Income

15 December 2025 at 06:44

Supreme Court rules that statutory corporations cannot claim the 40% tax deduction under Section 36(1)(viii) on income from dividends, deposits, or service charges, limiting the benefit strictly to profits derived from long-term financing activities.

Posted in Income Tax | 1137 Views

Income Tax Dept Detects Over Rs 1000 Crore Tax Evasion in Refex Group Searches

15 December 2025 at 06:44

The Income Tax Department has detected over Rs 1,000 crore in alleged tax evasion during search operations on Refex Group and its associates, uncovering bogus purchases, unexplained foreign investments and benami funding.

Posted in Income Tax | 330 Views

CBDT Nudges Taxpayers to Withdraw Bogus Donation Claims Using Data-Driven Tax Scanner

15 December 2025 at 06:44

CBDT has launched a data-driven NUDGE campaign to curb bogus tax deductions under Sections 80G and 80GGC.

Posted in Income Tax | 1065 Views

Gujarat High Court Orders IT Refund to Ex-Serviceman on Disability Pension

12 December 2025 at 06:47

Gujarat High Court has ruled that disability pension is fully tax-exempt even for ex-servicemen who retire voluntarily.

Posted in Income Tax | 927 Views

CBDT Issues Over 44,000 Alerts for Undisclosed Crypto Transactions

12 December 2025 at 06:47

CBDT issues over 44,000 notices for undisclosed crypto transactions as ED attaches Rs 4,189 crore. TDS collections on crypto double, revealing major compliance gaps.

Posted in Income Tax | 2115 Views

Income Tax Disputes Cross 5 Lakh Cases: Centre Shares Five-Year Pendency Data

11 December 2025 at 07:00

The Finance Ministry has released five-year data on income tax disputes, revealing over 5 lakh pending appeals and more than Rs 16 lakh crore locked in litigation across CIT(A), ITAT, High Courts and the Supreme Court.

Posted in Income Tax | 8076 Views

Income Tax Act 2025: New ITR Forms to Be Issued Before 2027-28

10 December 2025 at 07:06

New ITR forms under the Income Tax Act, 2025 will be notified before FY 2027-28, the Finance Ministry confirmed. CBDT is simplifying ITR and TDS forms ahead of the new tax law effective April 1, 2026.

Posted in Income Tax | 2115 Views