Cbdt

CBDT readies strategy for meeting ₹26.97 trillion direct tax target

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

Direct tax collections rise 15% to ₹5.21 trillion till June 17 in FY27

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

Could your income tax return face complete scrutiny under CBDT's new rules?

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

CBDT pushes banks, MFs to file error-free transactions by May 31

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 mopup rose 5.12% in FY26 but fell short of RE: CBDT data

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

Broader 'export incentives' definition in ITA 2025 prompts CBDT clarity

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

Tiger Global ruling: Despite Gaar relief, investors seek more clarity

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

Charities, trade bodies come under Income-Tax Department scrutiny

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

CBDT urged to issue master circular on legacy tax guidance in new I-T 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

Tiger Global ruling concerns: CBDT exempts pre-FY18 investments from Gaar

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

CBDT issues revised DIN norms, replaces 2019 circular on tax notices

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

New Income-Tax rules: Registration to become simpler for charitable trusts

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 I-T rules notified; new Act to ease compliance, cut litigation, says FM

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

CBDT notifies rules for simplified I-T law, to be effective from April 1

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

Parliamentary committee flags rising delays in income tax refunds

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

Govt amends I-T rules: Crypto, digital money now under reporting framework

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

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