Income Tax

Claimed donations in your ITR? Here's why many are revising returns now

CBDT's NUDGE campaign prompts over 1.5 mn taxpayers to revise their returns as the tax department cracks down on donation claims linked to unrecognised political parties and trusts

Can tax officials access emails and social media under new tax rules 2025?

Section 247 under the new Act allows authorised officers to access computer systems or virtual spaces, but strictly during search and survey operations where there is credible evidence of evasion

ITR refund stuck? Experts warn December 31 delays could block revisions

'Act fast: Rectification can save your refund if ITR isn't processed by year-end,' say experts

Got tax alert on property deals or foreign assets? I-T dept explains why

Authorities clarify that compliance alerts for high-value transactions are prompts for voluntary correction rather than a precursor to enforcement action

Belated return: Claim refunds, credits, carry forward house property loss

If you file an updated return later, you will have to pay interest and additional tax, and will not be able to claim refunds

Foreign firms can't claim full head office expense deduction in India: SC

Tax experts said the ruling brings finality to the treatment of inter-office expenses for foreign banks and other multinational enterprises with Indian branches

I-T dept flags ₹5,500 cr in suspicious political donation-linked tax claims

Investigations found that intermediaries were advertising "guaranteed refunds" in cinema halls and on social media platforms, luring taxpayers into making non-genuine claims in return for a commission

I-T department sends SMS, emails warning of bogus political donation claims

The Income Tax department has started sending SMS and email advisories to taxpayers for wrongful deduction claims related to unrecognised political parties or charitable institutions, the finance ministry said on Saturday. The Central Board of Direct Taxes (CBDT) said through data analysis it has observed that huge amount of bogus claims have been made on account of donation to Registered Unrecognised Political Parties (RUPPs) or Charitable Institutions and reduced their tax obligations and have also claimed bogus refunds. "A targeted NUDGE campaign has been launched as a taxpayer-friendly measure, providing them opportunity to update their ITRs and withdraw wrong claims, if any. SMSs and Email advisories are being issued from 12th December 2025 to such taxpayers on their registered mobile numbers and emails," the finance ministry said in a statement. The CBDT said that evidence gathered from enforcement actions indicated that RUPPs, many of which were non-filers, non-operational at

I-T flags 25,000 “high-risk” cases for undisclosed foreign assets

The Income Tax Department has launched a fresh compliance drive targeting undisclosed foreign assets and income. Around 25,000 individuals will receive SMS and email alerts asking

ITO most feasible for Delhi govt's proposed twin-tower project: Officials

The Delhi government is expected to finalise ITO as the location for its proposed twin-towers, as it has received consent of the Income Tax (IT) department for sharing 4.5 acre land for the project, officials said on Tuesday. Delhi PWD minister Parvesh Verma held a meeting in which the issue of twin-tower was discussed by officials of his department and the Income Tax department. "A meeting was held today with the ACS (PWD) and the Principal Chief Commissioner of Income Tax regarding the Twin Tower matter. Senior officials from both departments were present," said the minister in a post on X. All key points were discussed in detail and clear directions were issued to take the necessary steps in a coordinated and effective manner, he stated. "There are several options available to us. But ITO has emerged as the most feasible location after all our discussions. Especially with cooperation from the Income Tax department now, we have availability of a bigger plot to come up with ...

Charitable institution forms to be overhauled ahead of new I-T Act rollout

Das said he shared stakeholders' concerns regarding the complexity of the existing audit report forms filed by trusts

ITR forms, rules under new Income Tax Act to be notified by Jan: CBDT chief

The I-T department will by January notify the ITR forms and rules under the simplified Income Tax Act, 2025, which will come into effect from next fiscal beginning April 1, Central Board of Direct Taxes (CBDT) chief Ravi Agrawal said on Monday. The intent of the department is to keep the I-T Return forms simple to ease compliance under the new law, which replaces the six-decade old Income Tax Act, 1961, he said. "We are in the process of designing forms and rules. We are working towards putting this in place by January so that taxpayers have sufficient time to adapt their processes within their system," Agrawal told reporters after launching the Taxpayers' Lounge at the India International Trade Fair (IITF). The intent is to keep the income tax return (ITR) forms simple for taxpayers to ease compliance, he added. The Income Tax Act, 2025 was passed by Parliament on August 12. All the different forms applicable under the Income Tax Act, like TDS quarterly return form and ITR forms,

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.

Fast-track high-value tax disputes, revamp TDS rules: CII to govt

CII noted that tax litigation continues to burden businesses, with more than five lakh appeals involving nearly ₹18 lakh crore pending before the commissioner (appeals)

Cut income tax for up to Rs 50 lakh income to 20%, industry body urges govt

PHDCCI has urged the government to lower personal income tax rates for those earning up to Rs 50 lakh and restore the 15% concessional tax for manufacturers

I-T dept imposes penalty of ₹23.07 crore on Adani Cement entity ACC

The Income Tax (I-T) department has imposed two separate fines on ACC Ltd, totalling Rs 23.07 crore, which will be contested by the Adani Group firm before the appellate authorities. The I-T department has slapped a penalty of Rs 14.22 crore allegedly "for furnishing of inaccurate particulars of income" for Assessment Year 2015-16. The department has also levied a penalty amounting to Rs 8.85 crore "for under-reporting of income" for Assessment Year 2018-19. "The company will be contesting both orders by filing appeals before the Commissioner of Income Tax (Appeals) within the prescribed timelines and, in parallel, will seek a stay on the penalty demands raised under the respective orders," ACC said in regulator filings on Thursday. The company received these two demands on October 1, 2025, and said that these penalties will have no impact on financial activity. ACC is a subsidiary of Ambuja Cement, the Adani Cement entity, which owns over 50 per cent of the company. Both the I-T

Credit quality of Indian companies likely to remain stable in H2FY26

Rating agencies say easing monetary cycle, declining inflation supporting this

Tax-to-GDP: What India can learn from countries with better collections

Exploring India's tax-to-GDP gap, lessons from global reforms, and the role of social security contributions in boosting revenue and citizen compliance

PM's open letter: GST reforms will add up to ₹2.5 trn in savings for people

PM Modi said GST reforms and income tax cuts will save citizens Rs 2.5 trillion, urged celebration of GST Savings Festival and promotion of swadeshi products during festivities

TDS section applied by payer doesn't decide a person's tax regime

Choose 44ADA if your occupation is mentioned in Section 44AA(1); explain choice of regime with supporting documents