Income Tax News

CBDT Sets New Record: 174 APAs Signed in FY25

20 October 2025 at 07:16

The CBDT has signed a record 174 Advance Pricing Agreements (APAs) in FY25 - the highest ever including 65 Bilateral APAs and one Multilateral APA.

Posted in Income Tax | 1752 Views

All Rules Under New Income Tax Law to be Notified by 31st December 2025

20 October 2025 at 07:16

The government plans to notify all rules under the new income tax law by December 31, 2025, through a single consolidated notification.

Posted in Income Tax | 2319 Views

Excel Utilities for ITR-1 to 7 for AY 2023-24 Released as per Finance Act, 2025

18 October 2025 at 07:15

Income Tax Dept releases Excel Utilities for filing Updated Returns (ITR-1 to 7) for AY 2023-24 as per Finance Act, 2025. Download from e-Filing portal.

Posted in Income Tax | 144 Views

Net Direct Tax Collections Rise 6.3% to Rs 11.89 Lakh Crore as of 12th October 2025

15 October 2025 at 09:32

India's net direct tax collections surged 6.3% to Rs 11.89 lakh crore as of October 12, 2025, driven by steady corporate earnings and lower refunds. Gross collections reached Rs 13.92 lakh crore, per CBDT data.

Posted in Income Tax | 177 Views

Black Money Act Under Review: Tax Department Examines Overlaps with Income Tax Law

15 October 2025 at 06:30

Government reviews Black Money Act; committee to assess harsh penalties, legal overlaps with the Income Tax Act, and challenges in enforcement.

Posted in Income Tax | 1398 Views

Income Tax Refunds Fall Sharply Amid New Fraud Detection Checks by the Tax Department

15 October 2025 at 06:30

Income tax refunds drop 16% as the government tightens fraud detection checks; taxpayers face longer verification for high-value claims.

Posted in Income Tax | 9951 Views

Gujarat High Court Directs CBDT to Extend ITR Filing Deadline for Audit Cases by One Month

14 October 2025 at 07:23

Gujarat High Court directs CBDT to extend ITR filing deadline for audit cases by one month, offering relief to taxpayers and professionals.

Posted in Income Tax | 11235 Views

Income Tax Portal Update: Taxpayers Can Now See When AO or CIT(A) Reviews Their Submissions

14 October 2025 at 06:40

Income Tax Dept updates e-filing portal: Track exactly when AO/CIT(A) views your submissions, enhancing transparency in faceless assessments & appeals.

Posted in Income Tax | 2 comments | 31467 Views

ITAT Reduces Alleged Income of NRI by 97% After Dispute Over Rs 2.28 Crore

14 October 2025 at 06:40

An NRI taxpayer successfully challenged the Income Tax Department after being wrongly assessed Rs 2.28 crore as unexplained income. ITAT Ahmedabad reduced the amount to just Rs 63,133.

Posted in Income Tax | 1407 Views

Fake Income Department Tax Mail Leads to Rs 60 Lakh Cyber Fraud at Ahmedabad Company

14 October 2025 at 06:39

An Ahmedabad firm lost Rs 60 lakh after fraudsters sent a fake Income Tax email, installed malware, and tricked staff via WhatsApp spoofing.

Posted in Income Tax | 1365 Views