Page 2 - Cbdt

Govt extends ITR filing deadline for AY 2025-26 by a day to Sept 16

The e-filing portal will remain in maintenance mode from 12:00 am to 2:30 am on September 16, 2025

Tax break for global funds extended: what it could mean for your portfolio

Extension of tax breaks till 2030 aims to deepen foreign inflows in infra, but retail investors may only see limited indirect gains, say experts

Net direct tax collection down 4% to nearly ₹6.63 trillion till August 11

Net direct tax collections fell to Rs 6.63 trillion till August 11 in FY26 due to higher corporate refunds, while gross collections also declined 1.9%

Direct tax disputes soar 198% amid rising vacancies in revenue dept

In indirect taxes, the number of cases went up from 1.13 lakh to 1.26 lakh, and the value involved more than doubled to ₹7.4 trillion during the same period

Category III AIFs get tax relief as Delhi HC reads down CBDT circular

Delhi HC quashes BAR ruling and interprets 2014 CBDT circular to remove tax ambiguity for Category III AIFs, aligning with investor confidentiality and Sebi norms

Income Tax dept working on rules for new direct tax law: CBDT chief

The chairperson of the Central Board of Direct Taxes said the department is aligning its enforcement approach with a principle of "empathy", aiming to improve voluntary compliance

CBDT using AI tools to boost income-tax compliance, says Chairman Agrawal

Speaking on using artificial intelligence to monitor taxpayer behaviour, CBDT Chairman Ravi Agrawal stated that the department's role remains facilitative and non-intrusive

New NFRA chief Nitin Gupta brings experience of policy and Investigations

Nitin Gupta, the new chief of the National Financial Reporting Authority (NFRA), brings years of experience in policy-making and investigations, particularly in tackling complex financial issues

Ex-CBDT chief Nitin Gupta appointed NFRA chairperson for 3-year term

Nitin Gupta succeeds Ravneet Kaur as NFRA chair; watchdog is auditing Gensol and assessing discrepancies in IndusInd Bank account balances

CBDT sets Cost Inflation Index at 376 for FY26 for capital gains

The new CII will apply to FY26 capital gains computations and benefit taxpayers selling land or buildings acquired before July 23, 2024 who opt for indexation

CBDT raises cost inflation index to 376 for FY26 to ease capital gains tax

CBDT raises Cost Inflation Index to 376 for FY26, offering tax relief on capital gains for assets bought before July 23 2024. New rules reduce indexation scope under Finance Act 2024

FM flags tax appeals backlog, tells CBDT to fast-track resolution

Sitharaman asks tax department to resolve 5.7 lakh pending appeals, improve grievance redressal and refunds, and adopt a more taxpayer-centric approach

CBDT acts against non-filers with foreign income, assets worth ₹29,000 cr

Finance Ministry on Friday said CBDT is taking action against people having foreign income and as many as 5,483 taxpayers have filed belated returns reporting foreign assets worth Rs 29,208 crore and additional income of Rs 1,089.88 crore. Suitable action under the extant provision of law is under consideration for non-responsive taxpayers, the finance ministry said in a statement. The finance ministry's statement comes amid reports that money deposited in bank accounts of Indian entities in Switzerland has increased in 2024. Indian money parked in Swiss banks more than tripled in 2024 to 3.5 billion Swiss francs (nearly Rs 37,600 crore) on the back of a huge jump in funds held through local branches and other financial institutions, annual data released by Switzerland's central bank showed on Thursday. The ministry statement said that a total of 24,678 taxpayers reviewed their ITRs and 5,483 taxpayers filed their belated return for the assessment year (AY) 2024-25, reporting forei

Increased I-T scrutiny: NGOs, HNIs, and past cases under the scanner

New CBDT guidelines target NGOs, HNIs, and repeat offenders. Tax expert says, 'There is no way to avoid compulsory scrutiny if you fit the checklist.'

Unaccounted income invested in Virtual Digital Assets on CBDT radar

The Central Board Direct Taxes (CBDT) is investigating tax evasion and laundering of unaccounted income by high-risk persons through investment in crypto currency. Such entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax Act, 1961 have been identified for verification, sources said. As per the Section 115BBH of Income Tax Act, 1961 inserted by the Finance Act, 2022 a flat tax rate of 30 per cent (plus applicable surcharge and cess) on income from VDA transfer is applicable. The provision does not allow deduction of any expenses except cost of acquisition. Further, set-off of loss from VDA investment or trading is not allowed to be set off against any other income or for carry forward to subsequent years. Sources pointed out that data analytics has shown that a significant number of persons have violated provisions of Income Tax Act by not filing Schedule VDA of ITR and offering tax on the income earned

CBDT sends emails over undisclosed crypto income in latest NUDGE drive

CBDT emails thousands of taxpayers urging them to review and update ITRs for under-reported crypto income as part of a NUDGE campaign targeting VDA discrepancies

CBDT extends ITR filing deadline to September 15 amid major changes

CBDT extends ITR filing deadline to 15 September for AY 2025-26 citing major changes in forms, late TDS credits and system readiness, offering relief to taxpayers

CBDT extends ITR filing deadline for AY 2025-26 to September 15

The tax body said that the extension comes in the wake of the new structural and content revisions aimed at simplifying compliance, enhancing transparency, and enabling accurate reporting

From fake exemptions to old dues, CBDT tightens the tax net this year

With a record tax target this year, the CBDT is tightening scrutiny on top taxpayers, fake claims, and old dues while aiming for faster refunds and better taxpayer awareness.

Recognised startups spared Section 68 scrutiny, others under watch: CBDT

The clarification comes amid income-tax notices issued to startups for foreign funding routed via Singapore