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Income Tax News

23 Jun 2025

Oman To Introduce First Income Tax For High Earners From January 2028

To prepare for the rollout, Oman is developing a modern electronic tax system that will link government databases to ensure accurate income reporting and encourage voluntary compliance.

21 Jun 2025

Gross Direct Tax Collections Up 4.9% At Rs 5.45 Lakh Crore, Refunds Rise 58%

The I-T department recently launched the 'e-Pay Tax' feature which aims to simplify tax-related procedures for taxpayers.

21 Jun 2025

CBDT Probe Into Swiss Accounts Boosts Revised ITR Tax Declarations

The Central Board of Direct Taxes (CBDT) regularly undertakes a systematic review of data received and identifies taxpayers, whose cases require further verification.

11 Jun 2025

India vs Pakistan Income Tax Rate: Do You Know Pakistanis Pay Tax On THIS...

India vs Pakistan Income Tax Rates: In its budget, the Pakistani government has introduced significant adjustments to its tax policy for salaried individuals, providing substantial tax reductions of up to 80% for those in lower income brackets.

27 May 2025

Good News For Taxpayers! Income Tax Dept Extends Deadline For Filing ITRs

ITR Filing Deadline For FY 2024-25: The CBDT has notified the income tax return forms ITR-1 and ITR-4 for the financial year 2024-25 and the assessment year 2025-26 on April 30.

05 May 2025

Chosen New Tax Regime For AY 2025-26? Changes In ITR 1 You Should Know

CBDT has announced several changes in the ITR forms this including that in ITR-1 (SAHAJ) and ITR-4. Here are 6 Changes regarding ITR-1 (SAHAJ) that salaried individuals should know.

small savings scheme

05 May 2025

Opted For New Or Old Tax Regime? Doesn’t Matter! You Can Claim Tax Exemption

Here are the investment schemes on which investors can claim tax exemption for interest earned, whether they are in the New or Old Regime.

01 May 2025

Major Tax And GST Related Deadlines For You In May 2025: Check List

Several deadlines related to personal taxation, GST are set for the month of May. Check out the listicle.

24 Apr 2025

1% Tax On All Luxury Goods Priced Above Rs 10 Lakh --Check Full List Of Items

The CBDT has said that luxury goods of value exceeding Rs10 lakh will attract TCS (tax collected at source).

23 Apr 2025

Last Chance To Settle Your Tax Dispute Out Of Court As Vivad Se Vishwas Scheme

Income Tax: The Vivad se Vishwas Scheme was announced by Union Finance Minister Nirmala Sitharaman in the 2024 Budget and officially came into effect on October 1, 2024.

22 Apr 2025

Now Pay Taxes With Few Clicks Using New ‘e-Pay Tax’ Feature; Here's How to Use

Income Tax New Feature: The ‘e-Pay Tax’ feature is designed to remove the hassles of traditional tax payment methods and is available to both registered and unregistered users.

Income Tax notice

19 Apr 2025

Income Tax Alert: These 6 Transactions Can Get You Notice From I-T Department

Receiving a notice from the Income Tax Department can feel stressful, even when you've filed your returns correctly and on time. But certain high-value or suspicious transactions can still put you on their radar. Here's a reader-friendly guide to six financial moves that may result in a tax notice—and how to stay on the safe side.

18 Apr 2025

Income Tax: Does IT Department Track Your UPI Transactions? Find Out

UPI transactions are also monitored by the Income Tax Department just like other forms of income.

savings account

16 Apr 2025

How Much Money Can You Deposit In Savings A/c? What Is Single Day Cash Limit?

The Reserve Bank of India (RBI) has clear guidelines on per day and per year savings account cash deposit. Though there is no limit to how much money you can keep in your savings account, you need to know the official requirements.

12 Apr 2025

Which ITR Form Is Right For Senior Citizens In FY 2024-25? Check New Tax Slab

ITR Forms 2025-26 For Senior Citizens: Adding further, many senior citizens mistakenly assume that filing returns isn't necessary if tax is already deducted at source (TDS) on their income. However, this is incorrect.

06 Apr 2025

Swiggy Faces Tax Demands Worth Over Rs 165 Crore In Pune; Know Reason

According to the order, the larger tax demand stems from issues like cancellation charges paid to merchants, which tax authorities have disallowed under Section 37 of the Income-tax Act, 1961.

01 Apr 2025

5 Latest TDS Rules From Today 1 April 2025: For Senior And General Citizens

Here is a list of the changes in Tax Deducted at Source (TDS) for senior and general citizens that will take effect on April 1, 2025.

31 Mar 2025

Income Tax Dept Asks Auto components manufacturer Bosch To Pay Up Rs 20 Crore

Its revenue from operations rose to Rs 4,466 crore for the third quarter compared to Rs 4,205 crore in the year-ago period.

28 Mar 2025

'From Birth To Death': MP Raghav Chadha Highlights Pain Of Middle Class

MP Chadha said that the common man faces a 'tax to live, tax to die – and tax on every breath.' He said that the burden of tax begins even before a child opens their eyes.

28 Mar 2025

Tax Dept To Tighten Noose Around Tax Filers From April 1

Tax authorities will be able to make a forced entry into your premises upon detecting suspicious activitiy under applicable law. Besides, they can also access computer systems, emails or social media accounts over suspected tax evasion.

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