CBDT

The draft norms reduce delegated legislation, with their number proposed to be cut to 333 from 511

Draft rules and forms placed in public domain for 15 days as part of preparatory work for implementation of Income-tax Act, 2025 from April 2026

Draft rules and forms under the Income Tax Act, 2025 are set to be released this week, ahead of a phased transition from the 1961 law starting April 1

Budget tax reforms aim to simplify compliance as 86% of individuals shift to the new tax regime ahead of the new Income Tax Act rollout, says Agrawal

As many as 88 per cent of individual taxpayers have moved to the new tax regime and the government is not thinking of bringing in a sunset clause for filing income tax returns under the old regime, CBDT Chairman Ravi Agrawal said on Wednesday. He said selecting a particular tax regime is the choice of the taxpayers, but the response to the new regime has been "very good". "I can tell you that when ITR 1, 2, 3 and 4 are taken together (income tax return forms used by individuals), about 88 per cent of people have moved to the new tax regime. "And insofar as presumptive tax cases, about 97 per cent of the taxpayers have moved to the new tax regime. For corporates, about 60 per cent of the income is now being reflected in the new tax regime," Agrawal told PTI during a post-Budget interview. We believe, he said, with the new MAT (minimum alternate tax) provisions coming in the FY27 Budget, "it will also persuade people to move to the new tax regime". MAT, meant only for companies, is

LTIMindtree sees strong growth visibility as a robust pipeline of renewals and AI-native deals spills into next fiscal, even amid an unchanged macro environment

CBDT to adjust ₹968 crore tax withheld on Tiger Global's Flipkart exit after Supreme Court upheld India's right to tax the transaction

The seven-year contract will modernise India's national tax analytics platform using AI, digital architecture and data analytics to deliver real-time insights for policymakers, the company said

CBDT is reaching out via SMS and email under its NUDGE campaign, urging identified taxpayers to review potentially ineligible deductions for AY 2025-26 and revise returns by December 31, 2025

Chairman Ravi Agarwal says the department expects to meet its ₹25.2 trillion direct tax goal for FY26, with refunds slowing due to verification of incorrect claims and a dip in filings this year

Starting January 2026, the CBDT will conduct nationwide awareness and training programmes to familiarise taxpayers with the new Income Tax Act, 2025, which comes into effect on April 1, 2026.

The receipt must have details such as donor name, amount, date, payment mode, PAN, and party registration number

Tax experts pointed out that the press release appears to have missed granting relief to taxpayers covered under transfer pricing (TP) provisions

The Income Tax Department has started issuing notices and levying penalties on these non-compliant entities, directing field officers to complete the process by end-November

Higher personal income tax inflows and expanding non-corporate taxpayer base drive the rise in direct tax collections, reflecting robust domestic demand and compliance

The development comes a day after the Rajasthan High Court's Jodhpur bench passed an interim order directing the CBDT to extend the last date for filing tax audit reports to October 31

The Office of the Comptroller and Auditor General of India entered into a Memorandum of Understanding (MoU) with the Central Board of Direct Taxes (CBDT) here on Tuesday. The MoU was signed by Ravi Agrawal, Chairman, CBDT, and AM Bajaj, Dy CAG (Commercial & CRA), in the presence of CAG K Sanjay Murthy.Both organisations will collaborate to promote academic, training, and research interaction/cooperation in capacity development and research activities in areas of mutual interest.The CAG emphasised that the signing of the MoU will significantly enhance professional cooperation and capacity-building efforts, particularly in data-driven technology, between the two Departments. This MoU will serve as a strategic framework to bridge the skills gap between the two institutions and foster mutual growth.This partnership will focus on a range of initiatives, including training workshops, joint seminars, sharing audit insights based on advanced data analytics, and the use of innovative ...

Net direct tax collections grew 9.18% YoY to Rs 10.82 trillion till Sept 17 in FY26, driven by higher non-corporate tax inflows and lower refunds, while advance tax rose 2.9%

CBDT has issued an SOP for field officers to track capital gains from JDAs using RERA data, cross-checking with ITRs and requiring reports to be submitted by October 31, 2025

Jane Street has been under the spotlight since July, when the Securities and Exchange Board of India (Sebi) barred the firm from trading in domestic markets over alleged manipulative practices