Latest News, Updates & Breaking Headlines
MUMBAI : Markets regulator Sebi and the Central Board of Direct Taxes (CBDT) have removed some of the Income Tax Permanent Account Number (PAN)-related difficulties that foreign funds were facing in order to register themselves in India. The move is part of Sebi’s ease of investing initiative to simplify registration process for foreign portfolio investors.After…
The Income Tax Department disposed of 2.22 lakh appeals in the last financial year, marking a 29% increase over the previous fiscal as part of efforts to reduce disputes and improve taxpayer services, PTI reported.CBDT chairman Ravi Agrawal, in a letter to officials, said actions in the current fiscal (2026-27) should be “guided” by data,…
The Income Tax Act, 2025 came into force from April 1, marking a major overhaul of India’s tax framework, with the Central Board of Direct Taxes (CBDT) describing it as a step towards simplified compliance and a “new chapter” in tax administration, according to PTI.The new law replaces the six-decade-old Income Tax Act, 1961, and…
The new income tax regime has seen widespread adoption among individual taxpayers, with about 88 per cent now filing returns under the system, CBDT Chairman Ravi Agrawal said, while clarifying that the government is not considering a sunset clause for the old tax regime.He said the choice between tax regimes continues to remain with taxpayers,…
The finance bill proposes to give statutory backing to guidelines issued by the Central Board of Direct Taxes (CBDT), making them binding not just on income-tax authorities but also on taxpayers responsible for deducting or collecting tax.So far, CBDT circulars and instructions were treated as binding only on the tax department and not on the…
Taxpayers opting for the old tax regime can continue to claim deductions on donations made to eligible charitable organisations under Section 80G of the Income Tax Act, 1961. To clarify how such claims will be assessed and verified, the Income Tax Department issued an extensive set of FAQs on December 19, 2025, outlining both substantive…
NEW DELHI: After a massive nationwide operation, Central Board of Direct Taxes acted against several intermediaries involved in filing income tax returns with bogus claims of deductions and exemptions under the Income Tax Act.The move followed actions in July 2025, covering 150 premises, during which more than 102 suspicious RUPPs were identified for their role…
CBDT Chairman Ravi Agrawal has said that the government will notify the new income tax return forms and rules under the simplified Income Tax Act, 2025, by January 2026, giving taxpayers sufficient preparation time before the law comes into effect on April 1,. Speaking at the inauguration of a taxpayers’ lounge at the India International…
CBDT Chairman Ravi Agrawal has said that the government will notify the new income tax return forms and rules under the simplified Income Tax Act, 2025, by January 2026, giving taxpayers sufficient preparation time before the law comes into effect on April 1,. Speaking at the inauguration of a taxpayers’ lounge at the India International…
The Income tax department is holding back a chunk of refund payments after detecting wrongful deduction claims in several high-value and system-red-flagged filings, CBDT Chairman Ravi Agrawal said on Monday, PTI reported. Legitimate refunds, he added, should be cleared “this month or by December”.Speaking to reporters on the sidelines of an event at Bharat Mandapam,…
