Income Tax Department

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

Foreign firms' remote services not taxable in India without presence: HC

The ruling came while dismissing appeals filed by the Income Tax Department, which had challenged the Income Tax Appellate Tribunal's decision in favour of a Singapore-based legal services firm

CBDT to nudge 25K high-risk taxpayers to disclose foreign assets

Move aims to nudge 25,000 taxpayers to disclose foreign assets and income

Income Tax officials conduct probe at Waaree Energies' offices, facilities

Income Tax officials have conducted investigations at offices and facilities of Waaree Energies, a company statement said. The Gujarat-based company is also facing investigations in the US for alleged evasion of duty on solar imports. In a filing to exchanges on Tuesday, the company said it is extending full co-operation to the IT officials. "...certain officials of the Income Tax (IT) Department visited some of the company's offices and its facilities in India for conducting investigation under the Income Tax Act, 1961," Waaree Energies said. The proceedings are underway and full co-operation is being extended to the officials, it said. In September, Waaree Energies said it will continue to cooperate with the US government in ongoing investigations against the company for alleged evasion of duty on solar imports. The company's subsidiary -- Waaree Solar Americas -- has an operational 1.6 GW module manufacturing facility in Texas, which is being expanded to 3.2 GW. Shares of Waa

Exide Industries delays board meet as I-T department surveys offices

Battery maker says the Income Tax department has been conducting a survey at its offices and plants since October 29, adds there's no material impact on operations

I-T dept raids proprietary trading firm Graviton as govt steps up scrutiny

The raid at Graviton's offices near New Delhi began at the start of this week and is set to conclude Thursday

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

I-T dept conducts survey op against Marico Group over alleged tax evasion

The Income Tax Department on Wednesday conducted a survey operation at various business premises of the Marico group on charges of tax evasion, official sources said. The action is being undertaken by the Mumbai investigation wing of the department. The tax department teams are scrutinising financial documents and transactions of the company as part of a tax evasion probe, they said. The company could not be contacted immediately for a comment on the I-T action. Marico is one of India's leading consumer goods companies operating in the global beauty and wellness categories. As per a company statement, during the 2024-25 fiscal it recorded a turnover of USD 1.3 billion through its products sold in India and chosen markets in Asia and Africa. As part of a survey operation, the tax department makes a surprise visit at the business premises of the entity under investigation.

Explainer: Difference between Section 44AD and Section 44ADA of I-T Act

The confusion usually arises because both sections are about presumptive taxation, but their applicability is different

Over 60 million income tax returns filed for 2025-26 so far: I-T dept

More than six crore income tax returns for Assessment Year 2025-26 have been filed so far, the Income Tax department said on Saturday. The last date to file ITRs without penalty is September 15. "Thank you taxpayers & tax professionals for helping us reach the milestone of 6 crore Income Tax Returns (ITRs) as of now and still counting," the I-T department said in a post on X. To assist taxpayers for ITR filing, tax payment and other related services, our helpdesk is functioning on a 24x7 basis, and the department is providing support through calls, live chats, WebEx sessions & Twitter/X, it added. It also asked taxpayers who haven't filed ITR for AY 2025-26 to file at the earliest to avoid a last-minute rush. The Income Tax department in May announced an extension of the due date for filing ITRs for Assessment Year (AY) 2025-26 (for income earned in financial year 2024-25) by individuals, HUFs and entities who do not have to get their accounts audited from July 31 to September

LTIMindtree gets ₹792 cr contract from IT dept to overhaul PAN services

"We have been awarded this prestigious PAN2.0 project which looks to enhance the PAN issuance process and security through technology-driven innovation," LTIMindtree said in a statement

Income Tax dept surveys Nuvama in Jane Street market manipulation probe

The Income Tax Department on Thursday conducted a survey operation at the premises of brokerage firm Nuvama Wealth Management as part of an alleged tax evasion probe against Jane Street, the US-based proprietary trading firm accused of market manipulation, official sources said. Sources stated the department is undertaking a "verification" exercise in the backdrop of a recent Sebi action against Jane Street. They added that officials are looking at the account books and computer records of the US firm and its local partners as part of the survey at the office premises. Nuvama Wealth Management Ltd, Jane Street's domestic trading partner, confirmed the IT action in a regulatory filing. "The Income Tax Department is conducting a survey today, under Section 133A of the Income Tax Act, 1961, at the company's registered office. The company is extending full co-operation with the authorities and sharing requisite information," it informed the BSE. It added that the company "continues to

Fraud crackdown: 40,000 taxpayers withdraw bogus claims of ₹1,045 crore

I-T dept said move came after a series of outreach efforts, including SMS alerts, emails, and physical programmes, were made across various locations, nudging taxpayers towards voluntary compliance

I-T dept conducts raids in multiple cities in bogus tax deductions case

The Income-Tax Department on Monday launched multi-city raids as part of a tax evasion probe against those entities which assist certain individuals avail bogus deductions in their returns by claiming a variety of exemptions, official sources said. They said false deductions claimed by persons in lieu of making political donations to registered or unregistered political parties, payment of medical insurance, tuition fee and certain category of loans are among those cases which are being investigated as part of these raids. Certain individuals and their tax advisors like filers and accountants, who help them claim bogus exemptions, are being searched as part of the operation, they said. The action was taken after it was found that certain taxpayers have not filed their updated correct ITRs (Income Tax Returns) even after the tax department approaching them under the NUDGE (Non-intrusive Usage of Data to Guide and Enable) campaign which has a philosophy of 'trust taxpayers first', the

Refunds account for 17.6% of India's gross tax collections in FY25

Tax refunds in FY25 accounted for 17.6% of gross collections, a sharp rise from FY14. The average time to process refunds dropped to 17 days in 2024, compared to 93 days in 2013

Income Tax department releases ITR-2, ITR-3 excel utilities for AY26

This enhanced integration aims to simplify compliance for taxpayers and reduce errors in return filing

Delhi court discharges TMC's Sagarika Ghose, 9 others in ECI protest case

A Delhi court on Thursday discharged 10 TMC leaders, including Derek O'Brien, Sagarika Ghose and Saket Gokhale, in a case linked to a protest outside the Election Commission of India last year despite prohibitory orders being in place. Additional Chief Judicial Magistrate Neha Mittal passed the order of discharge. A detailed order is awaited. Earlier on May 13, the court had granted bail to the accused persons. On April 30, it granted exemption from personal appearance to the accused persons, except Vivek Gupta The court had summoned the accused persons on April 21 while taking congisance of the chargesheet. The TMC leaders held the protest against central probe agencies CBI, NIA, ED and the Income Tax Department in April last year. A 10-member delegation of the TMC had announced the protest after meeting a full bench of the Election Commission of India (ECI) to press their demand. The party alleged the central probe agencies were targeting opposition parties at the behest of th

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

June 2025 tax filing & compliance deadlines: What's due, when, and by whom

Completing these tasks in compliance will impact your tax refunds, returns and penalties

Income Tax dept notifies all 7 ITR forms for assessment year 2025-26

The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11. One important change has been introduced in ITR-1 and 4, which was notified on April 29, relating to the reporting of capital gain income from listed equities. Now, salaried individuals and those under the presumptive taxation scheme, having long-term capital gains (LTCG) of up to Rs 1.25 lakh in a financial year, will be able to file ITR-1 and ITR-4, respectively. Earlier, such persons/entities were required to file ITR-2. Under the I-T law, LTCG of up to Rs 1.25 lakh from sale of listed shares and mutual funds is exempt from tax. Gains exceeding Rs 1.25 lakh/ annum are subject to 12.5 per cent tax. The last date for filing ITR for individuals and those who do not have to get their accounts audited is July .