Income Tax department
Users can access online services such as filing income tax return, pay taxes, view tax credit, status of tax return, etc. Main responsibility of IT Department is to enforce various direct tax laws, most important among these being the Income-tax Act, 1961, to collect revenue for Government of India. It also enforces other economic laws like the Benami Transactions (Prohibition) Act, 1988 and the Black Money Act, 2015.
The Income Tax Act, 1961 has wide scope and empowers the tax department to levy tax on income of individuals, companies, local authorities, societies etc.
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Income Tax department
The Income Tax Department is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry of Finance. Users can get details related to the department, its organisational setup, functions, tax law and rules, international taxation, etc. Information about PAN, TAN, TDS, Form16, tax information network, Tax Return Prepare Scheme (TRPS), Aaykar Sampark Kendra (ASK), tax payers, etc. is given.Users can access online services such as filing income tax return, pay taxes, view tax credit, status of tax return, etc. Main responsibility of IT Department is to enforce various direct tax laws, most important among these being the Income-tax Act, 1961, to collect revenue for Government of India. It also enforces other economic laws like the Benami Transactions (Prohibition) Act, 1988 and the Black Money Act, 2015.The Income Tax Act, 1961 has wide scope and empowers the tax department to levy tax on income of individuals, companies, local authorities, societies etc.
Income-Tax Department conducts search operation at Go Fashion premises
The Income-Tax Department has launched a search operation at the offices, warehouse, and stores of Go Fashion (India) Ltd, the owner of the 'Go Colors' brand. The company stated that business operations remain unaffected and that details of alleged violations cannot be ascertained at this time. Go Fashion reported a revenue of Rs 848.17 crore in FY25.
ITR portal update: Now view if and when an I-T official saw or reviewed your tax notice submissions, know how it benefits taxpayers
The Income Tax Department now shows when officials view your tax notice submissions online. This new feature confirms your documents have been seen. It helps taxpayers monitor progress and prevents claims of non-consideration. This move enhances transparency and accountability in the faceless tax system. It also aids in tracking officer performance and improving efficiency.
Direct tax collection Increases 6.3% to ₹11.9 lakh cr in FY26 so far
India's net direct tax collections reached ₹11.89 lakh crore between April 1 and October 12, marking a 6.33% year-on-year increase. Despite a 15.98% drop in refunds issued, gross tax collections saw a 2.36% rise to ₹13.92 lakh crore. The government has set a net direct tax revenue target of ₹25.2 lakh crore for FY26.
I-T Department detects large-scale cash property deals in Bihar and UP; flags sub-registrars for data gaps
The Income Tax Department has uncovered widespread non-compliance in Bihar and Uttar Pradesh, with sub-registrars failing to report large cash property transactions exceeding ₹2 lakh. Numerous deals over ₹30 lakh were also missing from records, indicating significant unaccounted cash flows in the real estate sector.
53% interest to be paid by Income Tax dept to an individual’s tax refund of Rs 6.42 lakh; Delhi High Court order
The Delhi High Court has ordered the Income Tax Department to pay Mr. Goel Rs 3.55 lakh in interest on a Rs 6.42 lakh tax refund. This significant interest, amounting to 53% of the refund, is for multiple assessment years and must be disbursed within eight weeks. The court's directive follows Mr.
Black Money act under review; panel may revisit harsh clauses
India's stringent Black Money Act is being reviewed. An internal committee will examine its interaction with the Income Tax Act. The review aims to address challenges in its implementation and data handling. Tax practitioners may suggest revisiting harsh penalties and prosecution clauses. The government is considering ways to improve tax recovery and potentially introduce new disclosure schemes.
IT department to target landowners in new drive; Kolkata, Bengaluru and Delhi among cities under radar
The income tax department is initiating a drive targeting 25,000-30,000 landowners in Kolkata and Bengaluru, and other cities, who failed to pay capital gains tax on joint development agreements. This 'Nudge' campaign will use emails to encourage voluntary compliance, offering a chance to clear dues with an additional 25% for past years to avoid penalties.
Assam CM seeks ED, IT probe into North East India Festival accounts amid Zubeen Garg death investigation
Assam Chief Minister Himanta Biswa Sarma announced that the Enforcement Directorate and Income Tax department will investigate the accounts of Shyamkanu Mahanta, the chief organizer of the North East India festival in Singapore. This comes after Mahanta's arrest in connection with the death of singer Zubeen Garg.
India's net direct tax collection rises 6.33% to over ₹11.89 lakh crore till October 12
India's net direct tax revenue has risen by 6.33% to over ₹11.89 lakh crore by October 12th of the current fiscal year. This growth is attributed to robust corporate tax collections and a reduction in refund payouts. The government aims for a 12.7% increase in direct tax collection for the full fiscal year.
Binance wallets decrypted—taxman moves in on evaders
India's tax authorities are targeting over 400 high-net-worth individuals for evading taxes on their cryptocurrency profits from Binance. Many failed to disclose digital assets held on the offshore exchange, believing they could escape the substantial tax liabilities. The Income Tax department is now actively tracing these undeclared trades.
Taxpayer deposits Rs 20 lakh in NRE bank account, skips ITR; income tax dept issues notice but he wins in Gujarat High Court for this reason
An Indian expatriate successfully challenged an income tax notice for Rs 20 lakh deposited in his NRE account. The Gujarat High Court ruled in his favor, stating the income was from overseas savings and exempt under Section 10(4)(ii). The court found the tax department failed to objectively consider the taxpayer's explanation and tax residency certificate. Read more.
Zubeen Garg case: SIT finds Rs 1 crore moved through accounts of late singer’s personal security officers
A Special Investigation Team probing Zubeen Garg's death has uncovered a Rs 1 crore financial transaction in the bank accounts of two of his personal security officers. Meanwhile, one of the eight individuals present on the yacht in Singapore has agreed to cooperate with the Assam Police investigation.
I-T dept slaps Rs 23 cr fine on Adani Cement entity ACC
The Income Tax department has imposed two separate fines totaling Rs 23.07 crore on ACC Ltd for inaccurate income particulars in Assessment Year 2015-16 and under-reporting in Assessment Year 2018-19. ACC, an Adani Group firm, will contest these penalties before appellate authorities, seeking a stay on the demands.
Income tax disputes stuck in endless loop: Faceless CIT (A)s are issuing repeated notices but no final judgement, preventing taxpayers from taking further action
Launched to boost transparency, India's Faceless Appeal Scheme now faces challenges with significant pendency and the repetitive issuance of identical notices. This practice is eroding taxpayer confidence despite the scheme's digital intent. Fine-tuning execution through technological checks and clear guidelines is crucial to restore faith in the system. Read more.
Income Tax department concludes survey action on FMCG major Marico
FMCG company Marico announced the Income Tax Department completed its survey. The action covered company offices and manufacturing units. This survey began on September 17, 2025. An IT survey allows officers to inspect books and documents. They can impound items for up to ten days. This process helps detect tax evasion.
Raymond Lifestyle shares slide 4% as Income Tax Department conducts survey at offices and units
Raymond Lifestyle shares fell 4.2% to Rs 1,200.55 after the Income Tax Department conducted surveys at its offices and plants, triggering investor caution despite recent short-term gains.
I have inherited Rs 1 crore, do I need to pay tax on this before investing?
I have inherited Rs 1 crore in fixed deposits and bank balance. Are these amounts considered ‘income’ under the Income Tax Act?
Income Tax dept loses seized jewellery worth over Rs 90 lakh kept in bank custody: Allahabad High Court orders dept to compensate the taxpayer
Mr. Jain's seized gold jewellery, worth over Rs 90 lakh, was stolen from a bank while in Income Tax custody. The Allahabad High Court ordered the Income Tax Authorities to pay Jain his compensation within four weeks, holding them responsible for the loss. They must verify his valuation and face 12% penal interest if payment is delayed.
Chhattisgarh coal 'scam': EOW/ACB submitted forged document in SC, alleges Congress leaders
Chhattisgarh Congress leaders accused the state EOW/ACB of fabricating evidence in the coal scam case, alleging a forged statement under Section 164 CrPC was submitted to the Supreme Court. Forensic analysis reportedly revealed different fonts, suggesting pre-typed documents were used, prompting a complaint seeking criminal action against three officials.
'Tip of the iceberg': How scammers used identity of farmers, delivery boys and others for a crypto scam worth Rs 170 cr
The income tax department in Hyderabad has unearthed a cryptocurrency trading scheme where unsuspecting citizens' identities were used. Investigations revealed individuals like farmers and delivery boys linked to crores in crypto trades, despite lacking the means. Officials suspect a widespread identity theft racket masking high-value digital currency transactions, with investigations ongoing across multiple districts.
Zubeen Garg's cousin, a Assam police officer, arrested in connection with singer's death case
An Assam police officer, Sandipan Garg, has been arrested. He is the cousin of singer Zubeen Garg. The arrest is linked to the singer's death. Zubeen Garg died under mysterious circumstances in Singapore last month. He was swimming in the sea. The singer was in Singapore for the NorthEast India Festival.
Terror funding case: SC denies bail to NSCN-IM leader Alemla Jamir
The Supreme Court denied bail to Alemla Jamir, a minister in the NSCN-IM insurgent group. Jamir faces terror funding charges. The court cited serious allegations and an ongoing trial. The Delhi High Court had previously refused bail, noting Jamir as a flight risk. The National Investigation Agency arrested Jamir with cash at Delhi airport.
Taxpayer fights and gets big relief against Rs 2.28 crore income tax notice; ITAT Ahmedabad reduced it to only Rs 63,000
A person faced a Rs 2.28 crore tax notice for unexplained income. After filing an ITR declaring Rs 3.83 lakh, the tax department added the large sum. However, ITAT Ahmedabad significantly reduced the unexplained income to just Rs 63,000, ruling most transactions were satisfactorily explained. Know the full details of this case.
I-T Dept conducts survey action on premises linked to Raymond Group
Raymond Lifestyle Limited disclosed that the Income Tax Department conducted a survey action on its Indian premises on Thursday. According to a regulatory filing, officials from the department visited the company's offices and manufacturing units across India. The survey action, initiated under Section 133A of the Income Tax Act, 1961, is currently ongoing.
Taxpayer wins case in ITAT Mumbai: Rs 1 crore tax demand quashed after TDS mismatch in Form 26AS
A Mumbai taxpayer successfully challenged a Rs 1 crore tax demand at ITAT Mumbai after Form 26AS failed to reflect TDS credit. Despite paying taxes, the demand arose due to the deductor's failure to deposit or report TDS. ITAT ruled that credit cannot be denied solely based on Form 26AS, emphasizing Section 205 of the Income Tax Act.
Income tax survey on Raymond's realty arm
The Income Tax department is conducting a survey action on entities linked to the Raymond group, specifically targeting its real estate business. This action, which began on Thursday and continued Friday, is limited to official premises. Raymond has confirmed the proceedings under Section 133A and is fully cooperating with authorities.
Income-Tax Department detects ₹700 crore in fraudulent exemption claims
The Income-Tax Department has uncovered fraudulent exemption claims amounting to approximately ₹700 crore, prompting enhanced risk assessment in return processing. This has led to slower refund issuance, particularly for claims exceeding ₹10 lakh. Taxpayers are being notified to revise returns, contributing to a 24% decrease in refunds issued as of September 17.
Homebuyer was denied Rs 10 lakh capital gain tax exemption by Income Tax dept for not depositing unutilised land sale gains in CGAS on time, he wins case in ITAT Chennai
A homebuyer successfully claimed a Rs 10 lakh capital gains tax exemption. The tax department had initially denied this benefit. The ITAT Chennai ruled in favour of the homebuyer, stating that non-deposit of unutilised sale proceeds in the Capital Gains Account Scheme before the ITR due date is not fatal.
Many property sellers have to pay 3.5 times more TDS and TCS due to issues with Income Tax TDS, TCS rules; Five such I-T rules need overhaul
Income Tax on property: There is a problem with the Income Tax law due to which in immovable property sale cases, Taxpayers especially NRIs may face both TDS and TCS depending on how the sale proceeds are handled. The solution to this problem is lower/nil TDS and TCS certificates. However, these procedures increase compliance cost and complexity.
Sonam Wangchuk being projected as anti-national as part of witch-hunt: Wife
Gitanjali Angmo, wife of Sonam Wangchuk, alleged a "witch-hunt" and "baseless narratives" against him following his NSA detention. She challenged authorities to an open debate, refuting "anti-national" claims and FCRA violations, while highlighting his contributions. Angmo questioned his sudden criminal portrayal, blaming the UT administration for recent violence.
CA files wrong ITR, man gets Rs 85,000 demand notice instead of refund. Here's what happened
A taxpayer faced issues due to an incorrectly filed Income Tax Return by their Chartered Accountant. Despite refiling with a new CA and informing the Income Tax Department, they received a tax demand of ₹85,000. Experts advise rectification, appeal, and professional consultation. ITR filing deadlines were extended due to form revisions. Filing numbers show a 7.
Gap used by companies to illegally move forex overseas to be fixed
The govt is plugging a loophole exploited by dubious companies using tampered CA certificates and fake UDINs to illegally remit foreign exchange overseas. New measures will electronically transmit Form 15CA to banks and mandate online UDIN validation, preventing forgery and ensuring banks verify details. This aims to curb financial crime and strengthen compliance.
Teacher got Rs 3.5 lakh cash gift from daughter; Tax dept sent notice, she fought back and won case in ITAT Delhi
A teacher got Rs 3.5 lakh as cash gift from daughter and deposited this cash in her bank account; However, the income tax department doubted daughter’s ability to give such a big cash, but ITAT Delhi ruled in teacher’s favour: Here’s why. Read below to know more about this case.
Are large income tax refunds getting delayed? Here’s what you can do if you are yet to receive refund
Income Tax Refund Delay: Taxpayers awaiting income tax refunds, especially for larger amounts, may experience delays due to extra verification steps. Mismatches in forms, unvalidated bank accounts, or pending dues can also cause holdups. Taxpayers can check their refund status online, file grievances, or contact the CPC helpline to resolve delays and may be entitled to interest on delayed refunds.
Office of CAG signs MoU with CBDT to enhance operational effectiveness
The Comptroller and Auditor General of India (CAG) and the Central Board of Direct Taxes (CBDT) have signed a MoU to boost operational effectiveness through collaboration in training, research, and technology. CAG K Sanjay Murthy highlighted that this partnership will enhance professional cooperation and capacity building, especially in data-driven technology.
Income Tax department’s survey action underway on Marico
The Income Tax Department conducted a survey on consumer goods company Marico Ltd on Wednesday as part of a nationwide action. The survey, conducted under Section 133A of the Income Tax Act, allows officers to inspect books and documents to detect possible tax evasion. Marico, known for brands like Parachute and Saffola, has yet to release an official statement.
TDS on Post Office schemes: Not all post office schemes are tax-free: check TDS applicability here
Post Office investments have diverse tax implications, with interest on some schemes being taxable. Crucially, new TDS thresholds take effect from April 1, 2025. Senior citizens will face TDS on interest income exceeding Rs 1 lakh, while general citizens will see deductions above Rs 50,000.
ITR-5 and ITR-7 forms enabled for online filing: Who should file these income tax forms? What are their deadlines?
The Income Tax Department has activated online filing for ITR-5 and ITR-7 forms, pre-filled with data, on its official website. ITR-5 and ITR-7 forms are meant for specific categories of taxpayers and not for individuals or Hindu Undivided Families (HUFs).
NCLT approves merger of Star Television Productions with Jio Star
Jio Star India, a joint venture between Reliance Industries Ltd (RIL) and Disney, was created in November 2024 through the merger of Star India and Viacom18. The combined company was valued at $8.5 billion. In its September 26 order, the tribunal approved the merger under sections 230–232 of the Companies Act, calling it “fair, reasonable and not in violation of any provisions of law”.
Taxpayer with unexplained investment gets part relief in ITAT Delhi due to his socio-economic status, know what it means
On September 2, 2025, ITAT Delhi granted partial relief to taxpayer Husain, reducing his unexplained investments from Rs 7.82 lakh to Rs 1.32 lakh. The tribunal considered his socio-economic status and family's past savings for the Rs 6.5 lakh relief. The tax department will now calculate dues for the remaining Rs 1.32 lakh.
Claimed Section 87A tax rebate on STCG? Expect a tax demand notice from I-T dept; Here’s what you can do
Taxpayers who claimed Section 87A rebate on special incomes like STCG before July 5, 2024, may receive tax demand notices due to rectifications by the Income Tax Department. While Circular No. 13/2025 waives interest if the demand is paid by December 31, 2025, taxpayers can appeal, citing favorable ITAT decisions.
Unfair to charge Rs 29 lakh penalty for advance tax filing delay due to system glitches, CA writes to Finance Minister
A Delhi-based chartered accountant tweeted that his client incurred a loss of Rs 29.10 lakh due to glitches on the Income Tax Department portal, leading to a delayed advance tax payment. Despite multiple attempts before the deadline, the client was charged 3% interest. The CA has requested Finance Minister Nirmala Sitharaman to ensure that no taxpayer is penalised because of system inefficiencies.
Maharashtra mulls monetising 'Golden Data' of welfare scheme beneficiaries
Maharashtra is considering monetizing anonymized, non-personal data from its 'Samanvay' platform, containing details of welfare scheme beneficiaries. This 'Golden Data,' accessible via a unique 'MahaID,' aims to improve welfare delivery and eliminate ineligible recipients. The government believes this data can aid private companies in market research, though a final decision is pending.
Tax Dept gives relief to income taxpayers regarding Section 87A tax rebate claim
The CBDT's circular 13/2025 addresses issues arising from taxpayers incorrectly claiming Section 87A tax rebates on special rate incomes like short-term capital gains. While rectifications are underway, leading to tax demand notices, the CBDT offers a waiver on interest under Section 220(2) if demands are paid by December 31, 2025.
Is ITR e-filing portal still not loading for you? Here are some browser hacks Income Tax Department has suggested to ease your problem
ITR filing deadline: The website is experiencing overload issues, leading to slow loading times and processing failures. The Income Tax Department suggests browser fixes, but late filing can result in penalties, interest, loss of benefits, and increased scrutiny.
Justice Surya Kant's bench to hear CBI, BJP MLA pleas against Karnataka deputy CM: SC
The Supreme Court has assigned a bench headed by Justice Surya Kant to hear the petitions challenging Karnataka's decision to withdraw consent for investigating a disproportionate assets case against Deputy CM DK Shivakumar. A bench including CJI BR Gavai and Justice K Vinod Chandran acknowledged the previous handling of the pleas by Justice Surya Kant's bench.
Income tax portal not working? Here's what tax department said as internet flooded with complaints; Check what to do?
CBDT ITR deadline 15 September Today: Many are expressing frustration on social media platform X. The Income Tax Department is responding to complaints. They are asking users to share details via email.
ITR Filing 2025: When taxpayers fight glitches with jokes and end up filing more memes than returns
The income tax return deadline of September 15, 2025, saw chaos. The e-filing portal faced glitches. Taxpayers shared memes about the stressful situation. Many users struggled with server overloads. The Income Tax Department suggested fixes. Late filers will face penalties. Chartered accountants warned about the consequences of delay. The day was a mix of technical issues and social media humor.
Why your income tax refund is delayed? In how many days can you get it after filing ITR? Here's how to check refund status
Income tax refund: Taxpayers await income tax refunds after the September 16, 2025, deadline. E-verification starts the refund process. Refunds usually arrive in four to five weeks. Delays occur due to data mismatches or incorrect bank details. Check refund status on the Income Tax portal. Ensure bank details are pre-validated and PAN is linked to Aadhaar. There is no upper limit on refunds.
Redtape shares in focus amid reported ongoing income tax investigation
Redtape Share Price: The Income Tax Department’s ongoing probe into Redtape has entered a forensic audit stage, with officials examining seized documents, devices, and recovered digital data. Findings reportedly point to undisclosed income worth several crores, keeping investors alert to possible market impact when trading resumes.
Having difficulty accessing the Income Tax e-Filing Portal? Income Tax dept releases latest advisory about what to do
The Income Tax Department issued an advisory regarding access issues with the e-Filing Portal. The department suggested users to delete temporary files and clear browser cache. Using a different browser or network was also recommended. Disabling browser extensions and updating the browser could help. The department advised users to contact the helpdesk for further assistance.
Demand for extension of due date of tax audit report and ITR filing is getting wider with many tax bodies writing to finance minister and PMO
The Karnataka State Chartered Accountants Association (KSCAA) has appealed to the PMO, highlighting critical issues with the Income Tax e-filing portal. They cite delayed form releases, persistent glitches, and a non-functional helpline, causing significant stress and financial burden for taxpayers and professionals. Read more about tax audit due date extension.
Income tax portal still not working! Site faces fresh glitches, payment errors; can we expect another ITR deadline extension, ask netizens
Income tax return deadline: Taxpayers faced persistent glitches on the Income Tax Department's portal despite the extended ITR filing deadline. Many users expressed frustration on social media, citing unresolved technical issues and questioning the effectiveness of the one-day extension.
I have filed ITR but e-verification is yet to be done? Can I do it after ITR filing deadline?
ITR filing deadline: The government extended the ITR filing deadline to September 16, 2025, offering relief to taxpayers facing portal issues. While over 7 crore ITRs were filed, a significant number remained unverified by September 15, 2025. Taxpayers must e-verify their returns within 30 days of filing to avoid penalties and ensure their ITR is considered valid.
Husband bought property for Rs 60 lakh jointly with wife; Income tax dept sent her notice for unexplained investments; she wins case in ITAT Delhi
In a peculiar case, a wife faced tax scrutiny for a property purchase recorded by the sub-registrar, despite her husband declaring the investment and claiming tax exemption. The Income Tax Appellate Tribunal (ITAT) Delhi overturned the tax department's decision, acknowledging that the investment was solely husband's, and no additional income could be attributed to his wife.
Net direct tax revenue rises 9.18% to over Rs 10.82 lakh crore till Sept 17 FY26
India's net direct tax collection saw a rise of 9.18% to over Rs 10.82 lakh crore between April 1 and September 17, driven by a significant 23.87% decrease in refunds. Gross tax collection increased by 3.39% to Rs 12.43 lakh crore, while advance tax collection grew by 2.90% to Rs 4.48 lakh crore during the same period.
Redditor reveals costly tax filing mistake, faces ₹49,000 additional liability
A Reddit user's first-time tax filing blunder under the new regime led to a significant tax liability, sparking confusion and advice from other users. The ITR portal showed an incorrect tax amount, with Redditors suggesting the user explore the old regime for potential deductions next year.
Continued need to probe 'Modani Scam' in all dimensions: Congress on SEBI clean chit to Adani
Congress has insisted on further investigation into the Adani Group. This comes after SEBI cleared the group in some allegations. Congress questions the timing and scope of SEBI's probe. They allege misuse of agencies and biased privatisation. The party also raised concerns about bribery and over-invoiced coal imports.
Property and assets gifted to son's wife: Will the income from it be clubbed to your income for tax purposes?
Clubbing of income occurs when one person is taxed on another's income, often involving transfers to family. Tax expert Suresh Surana clarifies that gifting assets to a son's wife without adequate consideration triggers income clubbing, but this doesn't apply to daughters or a step-son's wife. Understanding these provisions is crucial for tax compliance and avoiding penalties.
Good news: Income tax return filing due date extended again by tax dept
ITR Filing Last Date Extended: The Ministry of Finance has extended the ITR filing due date again to September 16, 2025. While initially the ITR filing deadline was set for July 31, 2025, and then extended to September 15, 2025. However, since the last few days there were several issues with the income tax e-filing portal.
Top five changes in income tax audit form 3CD for AY 2025-26; Check details
The CBDT has announced changes to Form 3CD, applicable for FY 2024-25, impacting tax audit reporting. Key changes include revised reporting for MSME payments, new requirements for share buybacks, and disallowed expenses for legal settlements. Coded reporting for loans and inclusion of presumptive income for cruise ships are also introduced, aiming for greater compliance.
No income tax for taxpayer whose land was compulsorily acquired at Rs 73 lakh by NHAI due to this reason, rules Chhattisgarh High Court
The Chhattisgarh High Court ruled that compensation received for land acquired by the NHAI is exempt from income tax under Section 96 of the RFCTLARR Act. This decision provides relief to a taxpayer who sold land for Rs 73 lakh. The court emphasized that denying this exemption would discriminate against landowners whose land was acquired under the 1956 Act.
Income Tax Department finds Rs 5 crore cash in his house; Know how a 2008 circular saved him from prosecution
The Supreme Court overturned Krishnaswami's tax evasion prosecution, citing the Income Tax Department's violation of its own circulars. The court emphasized that CBDT circulars are binding and the department failed to prove willful tax evasion. This ruling reinforces the importance of procedural compliance and the conclusiveness of Settlement Commission findings, setting a precedent for future tax prosecution cases. Read more.
He sold ancestral land for Rs 1 crore but in ITR showed only Rs 2.45 lakh income; Wins case in ITAT Chennai due to this reason
Mr. Natesan sold ancestral land for Rs 1 crore, investing Rs 82 lakh in a house and declaring Rs 2.45 lakh income. Initially facing a tax demand of Rs 2.47 crore, he won his case at ITAT Chennai. The tribunal reduced his taxable gains to Rs 1 crore, allowing Section 54F exemption for the house investment.
ITR filing last date FY 24-25: Has income tax return filing deadline been further extended to September 30, 2025?
Income Tax Return Filing Due Date News: A notice circulating online on Sunday added more confusion to it, as it was referring to a press release from the Ministry of Finance, saying that the ITR filing deadline has been extended to September 30, 2025.
Grandmother gave him Rs 10 lakh and created gift deed but income tax dept issued him notice; grandson partly wins case in ITAT Pune due to this reason
Vikram received a Rs 10 lakh cash gift from his grandmother in 2016, prompting an income tax notice for unexplained income. Despite a gift deed, the tax department questioned the source and genuineness of the gift. ITAT Pune partly allowed Vikram's appeal, adding only Rs 5 lakh to his income after considering his existing cash balance and other income sources.
Presumptive Rules: Tax heat on content creators, consultants
The Income-tax department is scrutinizing social media content creators, script writers, and consultants who have filed returns under Section 44AD, questioning their eligibility. The department believes some should have filed under Section 44ADA, meant for specific professionals. However, many don't qualify under the 44AA list, creating a dilemma and potential tax complications.
Can I still file my ITR if I miss September 16, 2025 income tax return filing deadline?
ITR filing deadline: The Income Tax Department has extended the ITR filing deadline to September 16, 2025. Taxpayers missing this date can file a belated return until December 31, 2025, with a late fee.
Big Four partners, top professionals hit with Income Tax notices over ‘exempt income’ claims
The Income Tax department has issued scrutiny notices to senior professionals, equity partners of Big4 firms, and retired individuals regarding tax-exempt income declared for the financial year 2023-24. These individuals had reported earnings like partnership profits and retirement benefits as exempt, leading to an examination by the tax office.
Did you make a mistake in filing ITR in a hurry on September 16? Here's how to correct it
Taxpayers who filed Income Tax Returns with errors have options. If the ITR isn't e-verified, it can be discarded and refiled. After e-verification, a revised return under Section 139(5) is necessary. The revision window closes on December 31, 2025. The one-day deadline extension helps those awaiting challan generation. Taxpayers can check challan status and file accurately.
Extend income tax audit deadline due to ITR portal glitch, AIS errors, new ICAI enhanced reporting needs: Nagpur Chamber of Commerce
Nagpur Chamber of Commerce urges the Central Board of Direct Taxes for tax audit deadline extension. They request pushing it to November 30, 2025, citing ITR portal glitches and form delays. Kailash Jogani emphasizes timely action to avoid trader hardship. The chamber highlights delayed form availability and portal issues. They also mention overlapping deadlines and potential for errors.
Pay more than Rs 20,000 in cash for these transactions and get ready to pay up to 100% penalty, says tax dept
The Income Tax Department warns against excessive cash transactions, citing penalties for violations under Sections 271DD, 269SS, 269ST, and 269T of the Income Tax Act, 1961. Exceeding thresholds like Rs 20,000 for loans or Rs 2 lakh for single transactions can attract fines. Read below to know more about what the income tax dept said.
Why hasn't my income tax refund come as yet? When to expect ITR refund FY24-25 and how to track it?
ITR Filing Last Date: Many taxpayers are facing delays in receiving their income tax refunds due to various reasons, including incorrect bank details, unvalidated accounts, or a PAN not linked with Aadhaar. Refunds are typically processed within 2 to 5 weeks after e-verification, but larger refunds may undergo additional scrutiny.
ITR can still be filed after September 16, 2025 with payment of late fee and losing some benefits
Individuals had until September 16 2025, to file their income tax returns. Filing after this date incurs penalties and limitations, including late fees and potential loss of certain deductions. Choosing the old tax regime requires filing by the original deadline. No HRA tax deduction, EPF 80C deduction, LTA claims deduction if ITR is not filed on or before September 15, 2025.
Less than 10 hours remain to file ITR without penalty: One last chance to opt old tax regime and fix mistakes made in ITR
The income tax return (ITR) filing deadline has been extended to September 16, 2025, offering taxpayers a chance to correct errors. Taxpayers can rectify mistakes by using options like editing, discarding, or filing a revised ITR depending on their filing status. However, belated ITR filers cannot switch between old and new tax regimes.
ITR filing 2025: What you should know about Form 26AS, AIS and TIS
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 68th part of this series, ET Wealth explains the difference between the three forms that help you file error-free income tax returns. Note that September 15 is the last date to file your ITR.
Income Tax Filing Deadline: Excel utilities for filing updated returns in ITR-5, ITR-6, ITR-7 now available on Income Tax Department’s website
The Income Tax Department has released Excel Utilities for updated returns. These are for ITR-5, ITR-6, and ITR-7 forms. This applies to Assessment Years 2021-22 and 2022-23. Forms are available on the department's website since September 6, 2025. ITR-5 is for firms and LLPs. ITR-6 is for companies. ITR-7 is for specified companies.
Is that exempt income actually so? Asks taxman, spooks many
The Income Tax Department is examining tax filings. Several senior professionals are under scrutiny. Notices question income on which tax was not paid. The department is reviewing claims of exempt income. This includes partnership profits and retirement benefits. Some tax experts believe it could be a system error. Taxpayers may face reassessment proceedings later.
No income tax for gifts received by individuals in these seven situations
The Income Tax Department explained the tax implications of monetary gifts for individuals and HUFs, referencing Section 56(2)(x) of the Income Tax Act. Gifts from relatives, inheritances, and those received at the time of marriage are generally exempt. However, gifts from friends exceeding Rs 50,000 annually are taxable, and proper ITR reporting is crucial.
EPS 95 Pension: Madras HC allows higher EPS pension for post-Sept 1, 2014 retirees under this condition
Madras High Court ruled in favor of 86 retired BHEL, Trichy employees. The court directed EPFO to accept their joint application for higher pension. EPFO had rejected their application citing Trust rules. The court stated that Provident Fund rules cannot deny pension benefits. Employees who retired after September 1, 2014, can apply. They must remit the differential contribution with interest. Read more.
House property received by an individual as a gift is taxable in these situations
Gifting property to close family isn't taxed for the recipient, but rental income tax depends on the relationship. Gifts to spouses or daughters-in-law may trigger 'clubbing' provisions, taxing the original owner. When the recipient sells, capital gains are calculated using the parent's original cost and holding period. Gifts from friends are taxable if the stamp duty value exceeds Rs 50,000.
Don’t submit an ITR right away after filling the form to get one last chance to fix the errors
Taxpayers filing their income tax returns (ITR) are advised to save a draft before submitting to allow for corrections. Once submitted, changes require filing a revised ITR. Scenarios include deadlines for e-verification and potential late fees. Chartered accountants recommend reviewing drafts carefully to avoid errors and ensure timely submission before the deadline of September 15, 2025.
Online ITR filing charges across popular websites for AY 2025-26
There are several third-party websites that provide ITR filing services for payment of a fee. While filing on the government portal is free, using the services of CAs or specialised tax filing websites usually comes with a fee. Read more to know more about how much fee you need to pay for filing ITR through these private portals.
What if you fail to file ITR by due date September 15, 2025? You should be ready to pay late fee, delayed refund, and scrutiny
The Income Tax Return (ITR) filing deadline is September 15, 2025. Missing it results in a late fee. Belated ITR filing is allowed until December 31, 2025. However, failing to file can lead to legal issues. Late filing also means interest on tax dues and delayed refunds. Taxpayers cannot switch tax regimes when filing a belated ITR.
SC issues notice to Centre, ECI on PIL seeking direction to frame rules to regulate political parties, curb crime links
The Supreme Court on Friday issued notice to the Centre and Election Commission of India (ECI) on a Public Interest Litigation (PIL) seeking direction to frame rules for registration and regulation of political parties, in order to ensure secularism, transparency, and political justice.
Income Tax law for senior citizens and super senior citizens: What’s new for AY 2025-26
The Income Tax Department has provided details on tax rules for senior and super senior citizens. For assessment years 2025-26 and 2026-27, they can choose between old and new tax regimes. The old regime offers exemptions, while the new regime has lower rates but fewer deductions. Form 15H can be submitted for no TDS on FD. Read more.
Income tax: New TDS/TCS statement correction deadline; do it now to avoid tax notice later
Income Tax Department said that March 31, 2026 is the deadline for TDS, TCS correction statements. This applies to FY 2018-19 Q4 to FY 2023-24 Q3. Deductors, collectors must correct errors before deadline. New rules shorten correction window. Experts advise reviewing tax demands, taking action promptly. Missing deadline may cause tax notices, delayed refunds. Act now to avoid issues.
ITR filing portal facing very high traffic resulting in access and download related issues; What should you do
The Income Tax Return filing portal is experiencing high traffic. This is causing access and download problems. Taxpayers are struggling to download the Annual Information Statement. The Income Tax Department suggests using specific browsers and clearing cache. Some chartered accountants are also facing difficulties. They cannot access AIS via third-party software. The tax department advises contacting support for assistance.
ITR filing deadline alert: Why Finance Ministry may not extend September 15, 2025 due date
ITR Filing Last Date: The Finance Ministry reminds taxpayers of the September 15, 2025, Income tax return filing deadline, hinting no further extensions for non-audit individuals despite previous delays. Taxpayers are urged to file promptly to avoid penalties and interest on outstanding taxes. While ITR filings have increased, experts suggest potential regional extensions due to weather disruptions and delayed utility releases.
Income tax return filing deadline 2025: Now even BJP MPs write to Finance Minister to extend ITR filing due date
Income Tax Return Filing: With the ITR filing deadline approaching, tax professional bodies and BJP MPs are urging the Finance Ministry to extend due dates. They cite delayed form releases, technical glitches, natural calamities in Odisha, and new financial statement formats as key challenges. Extensions are requested to alleviate taxpayer burden and ensure accurate filing amidst various compliance pressures.
Granddaughter can’t claim a share in maternal grandfather’s property in this condition, rules Bombay High Court
In a significant ruling, the Bombay High Court has denied a granddaughter's claim to her maternal grandfather's ancestral property, clarifying that such property is 'obstructed heritage' until the mother's death. The court emphasized that birthrights apply to paternal ancestral property, not maternal inheritances, and underscored the rights of daughters as coparceners under the Hindu Succession Act. Read more.
What is document fraud and how to prevent loss of money and identity
Document fraud is on the rise, with sophisticated forgeries bypassing standard security checks, impacting various sectors. Instances range from fake IDs used in medical admissions to manipulated documents for loans and property disputes. Consumers must verify credentials, validate documents digitally, and stay alert to red flags to mitigate risks and financial losses.
FD rate up to 8.25% for senior citizens investing for three years; Know the full list of banks
Several banks are offering high fixed deposit rates for senior citizens. If a senior citizen’s total income is Rs 12 lakh under the new tax regime in AY 2026-27, and the tax liability computed after considering the eligible rebate under Section 87A tax rebate is ‘Nil’, he can submit Form 15H so that no TDS is deducted on interest on fixed deposits (FD).
Even if you made zero capital gains income from sale of property you still need to pay tax in this situation; CA explains why
Recent changes in India's income tax law, specifically the Finance (No. 2) Act, 2024, impact property sale transactions. Even with zero capital gains due to grandfathering relief, taxpayers may face increased tax liability. This is because non-indexed gains elevate total income, potentially triggering surcharge, as illustrated by a case study where a taxpayer paid an extra Rs 61,360.
Xiaomi’s India growth hit by regulations, sales drop, delays
Xiaomi's growth prospects in India are diminishing due to increased regulatory scrutiny and declining market share. The company's revenue contribution from India has significantly decreased, leading to reluctance from global management to invest further.
