Income Tax News
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.
CBDT Notifies TDS Exemption on Ship Lease Rentals Paid to IFSC Units Under Income Tax Act, 2025
04 July 2026 at 09:39CBDT has notified that no TDS will be deducted on lease rent paid for ship leasing to eligible IFSC units claiming deduction under Section 147 of the Income-tax Act, 2025, subject to specified conditions.
CBDT Notifies University of Hyderabad and PHFI as Approved Scientific Research Institutions Under Income Tax Act, 2025
29 June 2026 at 09:24CBDT has notified the University of Hyderabad and the Public Health Foundation of India as approved scientific research institutions under the Income-tax Act, 2025, for Tax Years 2026-27 to 2030-31.
Income Tax Department Enables Online Challan Correction Facility
25 June 2026 at 09:35The Income Tax Department's online Challan Correction facility allows taxpayers to correct AY, Tax Year, Major Head and Minor Head errors. Check eligibility, timelines, FAQs, user manual steps and important restrictions
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