Income Tax News
Over 1.7 Crore Taxpayers Filed ITRs for AY 2026-27
13 July 2026 at 09:36More than 1.7 crore taxpayers have already filed their ITRs for AY 2026-27, with over 10 lakh returns submitted in a single day. File your ITR-1 or ITR-2 before the July 31, 2026 deadline and avoid the last-minute rush.
CBDT Notifies TDS Exemption for Specified Payments to IFSC Units Under Income Tax Act 2025
11 July 2026 at 09:34CBDT notifies TDS exemption on specified payments made to eligible IFSC units under the Income Tax Act, 2025. The relief covers interest, commission, professional fees, dividends, and other notified incomes, effective from April 1, 2026.
Income Tax Department Releases ITR-7 Excel Utility for AY 2026-27
11 July 2026 at 09:23Income Tax Department releases ITR-7 Excel Utility Version 1.0 for AY 2026-27. Eligible trusts, institutions, political parties, and entities can now prepare and file returns under Sections 139(4A), 139(4B), 139(4C), and 139(4D).
CBDT Authorises DGIT (Systems) to Upload Global Financial Information in AIS Under Income Tax Act, 2025
10 July 2026 at 09:29CBDT has authorised the Director General of Income-tax (Systems) to upload information received under the Automatic Exchange of Information (AEOI) framework into the AIS through Form No. 168 under the Income-tax Act, 2025.
ICAI Invites Public Comments on Revised Guidance Note for Tax Audit under Section 44AB of IT Act 1961
10 July 2026 at 09:17ICAI has released the Exposure Draft of the revised Guidance Note on Tax Audit under Section 44AB and invited public comments. Submit suggestions by July 25.
ITR-5 Excel Utility for AY 2026-27 Released
09 July 2026 at 09:25The Income Tax Department has released the ITR-5 Excel Utility for AY 2026-27 on July 7, 2026. Eligible firms, LLPs, AOPs and other taxpayers can now download the utility, schema and validation files for return filing.
PFMS Users Can Now Authenticate Using PAN or Bank Account Under Revised Aadhaar Rules
08 July 2026 at 09:35Finance Ministry has revised the PFMS Aadhaar authentication notification, enabling verification through bank account or PAN-based OTP and extending coverage to both PFMS web and mobile applications.
CBDT Grants Tax Exemption to NCCL's Core Settlement Guarantee Fund Till AY 2026-27
08 July 2026 at 09:29The Central Government has granted tax-exempt status to NCCL's Core Settlement Guarantee Fund under Section 10(23EE) for AY 2019-20 to 2026-27.
CBDT Condones Delay in Filing Form 10AB for 80G Approval Applications Till 31st March 2026
04 July 2026 at 10:04CBDT Circular No. 06/2026 condones delay in filing Form 10AB for renewal of Section 80G approval. Know eligibility, timelines, implications, and relief available to charitable institutions.
CBDT Notifies TDS Exemption on Aircraft Lease Rentals Paid to IFSC Units Under Income Tax Act, 2025
04 July 2026 at 09:45CBDT has notified that no TDS will be deducted on aircraft lease rent and supplemental lease rent paid to eligible IFSC units under the Income Tax Act, 2025. The exemption is effective from April 1, 2026, subject to specified conditions.
Popular News
- Central Excise Duty Rates Revised: Rs 16 and Rs 10.5 Per Litre Effective 1st October 2026
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- CBDT Extends Tax Audit Due Date for AY 2026-27 to 21st October 2026; ITR Deadline Moved to 21st November
- MP High Court Petitions Challenge AY 2026-27 Tax Audit Deadline
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