CBDT

The Appointments Committee of the Cabinet approves Ravi Agrawal's reappointment as CBDT chairman on a contract basis from July 1 to December 31, 2026

The Union government on Tuesday extended the tenure of CBDT Chairman Ravi Agrawal by six months, till December 2026. The 1988-batch Indian Revenue Service (IRS) officer was due to retire on Tuesday (June 30). An order issued by the Appointments Committee of the Cabinet (ACC) said it has approved the "reappointment" of Agrawal as Chairman, CBDT on a contract basis for a period of six months with effect from 01.07.2026 or until further orders, whichever is earlier, on the terms and conditions applicable to re-employed central government officers, in relaxation of the Recruitment Rules. He was appointed as the chief of the Central Board of Direct Taxes (CBDT), the policy-making body for the Income Tax Department, for a one-year term in June 2024. His tenure was extended by a year in June 2025. The CBDT is headed by a chairman and can have six members who are in the rank of special secretary.

CBDT has drawn up a multi-pronged strategy to achieve its ₹26.97 lakh crore direct tax target, backed by strong early collections

Net direct tax collections rose to ₹5.21 trillion as strong growth in non-corporate taxes and advance tax payments offset modest growth in corporate tax receipts

The CBDT has identified six categories of taxpayers for mandatory complete scrutiny in FY27. Understanding the triggers can help taxpayers stay prepared

CBDT has asked banks, mutual funds and other reporting entities to ensure timely and error-free filing of Statements of Financial Transactions

Net direct tax collections rose 5.12% in FY26, missing revised estimates as non-corporate tax growth remained flat despite robust corporate tax collections

Experts warn wider wording in new income-tax law could expand tax scope to indirect benefits, urging CBDT to clarify and prevent disputes for exporters

Tax uncertainty persists after Supreme Court's Tiger Global ruling despite GAAR relief, with concerns over treaty benefits, TRC validity and indirect transfer taxation

The Income Tax Department has issued notices to trusts and associations, flagging "commercial receipts" and questioning their eligibility for tax exemptions under the law

Experts flag ambiguity over applicability of legacy circulars under the new Income-tax Act, 2025, seeking clarity to reduce disputes and ensure uniform compliance

CBDT clarifies GAAR provisions to exempt pre-2017 investments from scrutiny, aiming to boost investor confidence and ensure tax certainty

New guidelines introduce flexibility in quoting DIN in tax communications while ensuring traceability and reducing litigation over procedural lapses

New Income-tax Rules, 2026 introduce a single registration form and cut record retention to six years, reducing compliance burden for charitable trusts and non-profits

New rules expand HRA benefits to more cities, clarify EV taxation, tighten reporting norms and streamline transfer pricing and foreign tax credit processes

Central Board of Direct Taxes on Friday notified the rules for Income-tax Act, 2025 which provided enhanced tax benefit for HRA to salary earner but makes disclosure of landlord-tenant relationship mandatory. The Income-tax Rules, 2026 will operationalise the simplified direct tax legislation that was approved by Parliament last year and will come into effect from April 1. "These rules may be called the Income-tax Rules, 2026. They shall come into force on the April 1, 2026," a gazette notification said. Parliament on August 12, 2025 passed a new Income Tax Bill to replace the six-decade-old Income Tax Act, 1961. It does not impose any new tax rate and only simplified the language, which was required for understanding the complex Income Tax laws. The Act has removed redundant provisions and archaic language and reduces the number of Sections from 819 in the Income Tax Act of 1961 to 536 and the number of chapters from 47 to 23. The number of words had been reduced from 5.12 lakh t

Finance panel notes rising delays in income tax refunds beyond the 90-day norm and flags a surge in outstanding direct tax arrears

From January 2026, crypto-assets, CBDCs and electronic money products will fall under India's expanded FATCA-CRS reporting regime, strengthening tax transparency and compliance

CBDT chief Ravi Agrawal said the new Income Tax Act, effective April 2026, will create a rule-based, AI-enabled tax ecosystem aimed at reducing disputes, improving certainty and enhancing compliance

Net direct tax collections grow 9.4% to Rs 19.43 trillion till February 10 in FY26, aided by moderation in refunds, CBDT provisional data shows