• 

  Income Tax department denies rate change under new I-T Bill, calls reports misleading

  Business | July 29, 2025 23:54 IST

  The Income Tax Department has clarified that the new Income Tax Bill, 2025, does not propose any changes to existing tax rates, including for long-term capital gains. The bill is focused solely on simplifying the language of the statute and removing outdated or redundant provisions.

• 

  Congress loses appeal against Rs 199 crore tax demand, tribunal cites late return, violations

  India | July 22, 2025 20:26 IST

  The Income Tax Appellate Tribunal (ITAT) has dismissed the Congress party’s appeal against a Rs 199.15 crore tax demand for the 2018–19 financial year. The tribunal held that Congress failed to meet the mandatory conditions for exemption under Section 13A of the Income Tax Act.

• 

  Income Tax officials can track emails, social media from 2026: Here is what it would mean to you

  March 06, 2025 18:03 IST

  Starting April 1, 2026, Indian income tax officials will have the legal authority to access emails, social media, and online transactions under a new law aimed at curbing tax evasion. Learn how this impacts taxpayers and privacy concerns.

• 

  Income Tax Bill 2025: Now you can do 'section to section mapping' of I-T Act, check here how

  Business | February 15, 2025 13:35 IST

  The Income Tax Bill 2025 will come into effect from April 1, 2026, after it is vetted by a Select Committee of the Lok Sabha and cleared by Parliament.

• 

  From reducing legal complexities to streamline compliance: How New Income Tax Bill to help taxpayers

  Business | February 11, 2025 18:05 IST

  FM Nirmala Sitharaman had last week said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week.

• 

  New Income Tax Bill gets Cabinet approval, likely to be introduced in Parliament next week: Sources

  February 08, 2025 0:01 IST

  In her Budget speech on July 23, 2024, Union Finance Minister Nirmala Sitharaman had announced a comprehensive review of the Income Tax Act, 1961, within six months. The income tax department has received 6,500 suggestions from stakeholders on review of the Income Tax Act.

• 

  Income Tax alert: Cash transfers to wife may attract IT notice | Know the Rules

  February 06, 2025 8:50 IST

  Transferring money to your wife via UPI or cash? Know about the latest Income Tax Rules 2025 under Sections 269SS and 269T to avoid an IT notice. Find out the legal limit for cash transactions, tax-free gift rules, and the safest banking methods.

• 

  Budget 2025: When was Income Tax introduced in the Union Budget? Know here

  Budget | January 31, 2025 7:56 IST

  Budget 2025: With Union Budget 2025 around the corner, discussions on income tax slabs, exemptions, and potential reforms are once again in focus, as taxpayers eagerly await announcements that could impact their financial planning for the coming year.

• 

  Zero tax nations vs high tax countries: A global look at Income Tax systems

  January 23, 2025 18:41 IST

  Discover the stark differences between tax-free countries like the UAE and Kuwait, where citizens enjoy zero income taxes, and high-tax nations like Finland and Denmark, which fund social welfare programs. This global tax comparison highlighted diverse economic models and their impact on citizens.

• 

  Budget 2025: Big relief for taxpayers? Govt likely to introduce new Income Tax Bill, say sources

  Budget | January 18, 2025 23:12 IST

  The government is set to unveil a new Income Tax Bill during the Budget 2025 session, replacing the decades-old Income Tax Act, 1961.

• 

  ITR filing: Deadline of 'Vivad Se Vishwas' extended, revised and belated filing now till January 15

  December 31, 2024 12:48 IST

  The Income Tax Department has extended the deadline for filing revised and belated ITR for AY 2024-25 to January 15, 2025. This move, announced by CBDT, aims to help taxpayers address AIS and ITR mismatches and ensure accurate filings. Here’s everything you need to know.

Advertisement
• 

  How much cash can you keep in savings account without attracting Income Tax notice? Know the Rules

  Business | December 14, 2024 14:19 IST

  Know the income tax rules for savings accounts and how much cash you can deposit without attracting scrutiny. Discover the daily cash transaction limits, high-value transaction reporting requirements, and how to respond to an income tax notice.

• 

  Rs 5,000 late fee: Your last chance to file belated ITR before December 31, check steps here

  December 10, 2024 12:10 IST

  Taxpayers who missed the July 31 deadline for Income Tax Return (ITR) filing for FY 2023-24 (Assessment Year 2024-25) must file by December 31 to avoid increased penalties. Know the late fees, steps to file, and what happens if you miss the deadline.

• 

  Good news for taxpayers: CBDT launches online mechanism to address tax disputes, check details

  Business | September 05, 2024 23:55 IST

  The CBDT said the e-DRS enables the taxpayers to file an application electronically for dispute resolution to the Dispute Resolution Committees (DRC) designated for the region of Principal Chief Commissioner of Income Tax having jurisdiction over the taxpayer.

• 

  ITR Filing: How to check your tax refund status online using PAN card? Know step-by-step guide

  July 31, 2024 18:45 IST

  ITR Filing 2024: Today is the deadline for ITR filing. Taxpayers who have filed their returns and are due a refund can expect processing to take 15 to 45 days after e-verification. Refund status can be checked online using a PAN card on the Income Tax e-filing portal.

• 

  Income Tax assessment year 2024-25: How does your ITR get processed by tax department? Details

  July 08, 2024 17:46 IST

  The last day to file the Income Tax Return (ITR) is July 31. After the returns are filed, the department will verify the claims and subsequently initiate the refunds accordingly. Know about how the ITRs are processed and what steps to take.

• 

  Finance Ministry clarifies: No changes in new tax regime, issues 6-point note

  Business | April 01, 2024 11:07 IST

  In a statement, the ministry addressed confusion over the new tax regime, emphasising its lower rates but fewer exemptions and deductions. Finance Minister Nirmala Sitharaman's interim budget assured the preservation of existing tax rates.

• 

  Income Tax 2024: How to file for tax deductions on donations to political parties? Know all details

  Business | February 16, 2024 10:33 IST

  Donations to political parties are tax-exempt, provided they are directed towards political parties recognised by the Election Commission.

• 

  Bombay High Court orders Rs. 1,128 crore tax refund to Vodafone Idea Limited

  Business | November 09, 2023 23:53 IST

  Vodafone Idea had filed a petition, asserting the excess tax paid, leading the court to express concern about the assessing officer's apathy.

• 

  Do minors have to file separate Income Tax Returns? Check details here

  Business | July 28, 2023 15:05 IST

  A minor can have two sorts of income: earned and unearned; in both circumstances, ITR should be recorded, observing specific guidelines applicable to earning minors.