Income Tax News

Income Tax Department Releases ITR-6 Excel Utility, JSON Schema and Validation Rules for AY 2026-27

07 August 2026 at 09:40

Income Tax Department releases ITR-6 Excel Utility, JSON Schema and Validation Rules for AY 2026-27. Companies can now begin preparing and filing returns using the latest offline utility.

Posted in Income Tax | 1 comments | 1056 Views

FM Sitharaman Introduces Appropriation (No. 3) Bill, 2026 in Lok Sabha

05 August 2026 at 09:22

Finance Minister Nirmala Sitharaman introduced the Appropriation (No. 3) Bill, 2026 in Lok Sabha to authorize excess expenditure incurred during FY 2022-23 through appropriations from the Consolidated Fund of India.

Posted in Income Tax | 1 comments | 4587 Views

CBDT Releases FAQs on Taxation and Other Laws (Amendment) Bill, 2026

04 August 2026 at 15:45

CBDT has released detailed FAQs on the Taxation and Other Laws (Amendment) Bill, 2026 introduced in Lok Sabha. Know the key tax proposals on data centres, electronics manufacturing, foreign investment funds, rough diamonds and business trusts.

Posted in Income Tax | 1 comments | 9789 Views

India's Rs 100 Crore Income Filers Jump 4X in 5 Years, Reach 576 in AY 2025-26

28 July 2026 at 10:37

The number of Indians reporting income above Rs 100 crore rose from 142 to 576 in five years. Here's what the latest government data reveals about wealth creation in India.

Posted in Income Tax | 1 comments | 2412 Views

No Change in MSME Payment Compliance: Government Defends Section 43B(h) in Parliament

28 July 2026 at 09:37

The Finance Ministry has clarified in Rajya Sabha that Section 43B(h) links tax deduction claims to timely payments made to micro and small enterprises, aiming to improve MSME cash flow and working capital availability.

Posted in Income Tax | 1 comments | 4173 Views

CBDT Extends Tax Exemption Benefits to Maharashtra Fees Regulating Authority Under Section 10(46)

28 July 2026 at 09:29

CBDT has notified Maharashtra's Fees Regulating Authority under Section 10(46), exempting specified income including processing fees, government grants, and interest income for AY 2022-23 to AY 2026-27, subject to prescribed conditions.

Posted in Income Tax | 1 comments | 510 Views

CBDT Notifies ITR-BN Under Income Tax Rules 2026 for Block Assessment Cases

27 July 2026 at 09:29

CBDT has notified ITR-BN through the Income Tax (Third Amendment) Rules, 2026 for block assessment cases arising from search and requisition proceedings under the Income Tax Act, 2025. Know the key details.

Posted in Income Tax | 1 comments | 12912 Views

FM Sitharaman Calls for Greater Tax Certainty and Reduced Litigation at 167th Income Tax Day Celebration

25 July 2026 at 09:21

Finance Minister Nirmala Sitharaman outlined the 5Rs of Responsive Tax Governance at the 167th Income Tax Day celebrations, emphasizing tax certainty, reduced litigation, taxpayer-centric reforms, and the transformative impact of the Income-tax Act, 2025.

Posted in Income Tax | 1 comments | 1617 Views

Centre Notifies Additional PMLA Special Courts in Gujarat

24 July 2026 at 09:34

The Central Government has amended the PMLA notification to designate additional Special Courts in Gujarat, including CBI Special Courts in Ahmedabad and the Principal District Judge, Surat.

Posted in Income Tax | 1 comments | 1896 Views

CBDT Grants Section 10(46) Exemption to District Legal Services Authority, Jind

23 July 2026 at 09:23

CBDT Notification No. 92/2026 grants Section 10(46) income-tax exemption to District Legal Services Authority (DLSA), Jind on specified income for FY 2022-23 to FY 2025-26, subject to prescribed conditions.

Posted in Income Tax | 1 comments | 2139 Views