Cbdt

New I-T Act to enable AI-driven, rule-based tax system from April 2026

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 up 9.4 % to ₹19.43 trillion till February 10

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

Filing returns for FY26: Taxpayers may continue to use existing ITR forms

New rules likely to be notified by March 1st week

New CBDT rules may focus on risk-based cross-border RPTs: Experts

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

CBDT puts draft Income-tax Rules, forms out for feedback till Feb 22

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, forms under new I-T law likely this week for consultation

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

Some overlapping period for new and old I-T rules will exist: CBDT chairman

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

About 88% of individual taxpayers have opted for new tax regime: CBDT chief

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

AI deals keeping pipeline steady, says LTIMindtree CEO Venu Lambu

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

Tiger Global case: Govt to adjust ₹968 cr tax withheld, say CBDT sources

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

LTIMindtree wins ₹3,000 crore CBDT deal for AI-led tax analytics platform

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

Sudden I-T 'NUDGE' unsettles taxpayers ahead of December 31 deadline

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

CBDT confident of meeting FY26 tax target; refund checks slowing outflows

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

CBDT plans nationwide outreach ahead of new Income Tax Act, 2025 rollout

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.

Retain transfer proof, receipts in political donations for future scrutiny

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

CBDT extends return filing deadline for audit cases to December 10

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

I-T department begins action on firms failing to report high-value deals

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

Net direct tax haul jumps 6% to ₹11.89 trillion on personal tax filings

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

CBDT extends due date for FY25 tax audit report filing to October 31

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

CAG and CBDT sign MoU to enhance operational effectiveness

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 ...