'Repeated adjournments are one of the largest contributors to lengthy litigation cycles.'
Our income tax department should bring out monthly bulletin as well as annual reports providing insights into the nature of our direct tax segments, points out R Vaidyanathan.
Think again. Not filing could cost you. Here's who must file, who should, and why it matters. What's more, the deadline to file your ITR has been extended till September 15, 2025
The Central Information Commission (CIC) has directed the Income Tax Department to disclose 'generic details of the net taxable income/gross income' of an estranged husband to his wife for pursuing maintenance proceedings. The commission stated that such information cannot be denied on privacy grounds in matrimonial disputes.
The Income Tax Department has clarified that income from the transfer of investments made before April 1, 2017, is excluded from the scope of the General Anti-Avoidance Rules (GAAR), addressing industry concerns about retrospective application.
Amid economic uncertainties owing to the pandemic, the government's key revenue agency, the Income Tax Department, has close to 400 vacancies at commissioner level and above, affecting its functioning. Seventy-three of the 91 chief commissioner positions are lying vacant, with some for more than a year. Chief commissioner is the second-highest post in the department, below principal chief commissioner, which is at par with secretary in a ministry.
'In practical terms, a Master Circular is not merely desirable; it is a necessary transition tool to ensure that the promise of simplification under the Income-Tax Act, 2025, is fully realised.'
The Delhi High Court quashed income tax notices issued to NDTV founders Prannoy Roy and Radhika Roy, citing arbitrary proceedings and ordering the department to pay costs.
Leading FMCG maker HUL said that it has received a demand notice of Rs 962.75 crore from the Income Tax Department and will go in for an appeal against the order. The notice relates to non-deduction of TDS on payment of Rs 3,045 crore to GlaxoSmithKline Consumer Healthcare (GSKCH) for the acquisition of Intellectual Property Rights of the Health Foods Drinks (HFD) business consisting of brands as Horlicks, Boost, Maltova, and Viva, according to a recent exchange filing.
Net direct tax collection grew 8 per cent to over Rs 17.04 lakh crore this fiscal till December 17 on slower refunds and higher advance taxes from corporates, the income tax department data showed on Friday.
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
RediffGURU Mihir Tanna broadly lists the ITRs to be filled by individuals having income from salary, house property, capital gain, business and other sources.
The government earned Rs 7.42 lakh crore as direct taxes in 2015-16, a 66 per cent increase from Rs 4.45 lakh crore in 2010-11
The Delhi High Court has upheld a trial court's order declaring UK-based arms consultant Sanjay Bhandari a 'fugitive economic offender' in a money laundering case, allowing the Enforcement Directorate to proceed with confiscating his assets.
Net direct tax collection grew about 8.82 per cent to over Rs 18.38 lakh crore in the current fiscal till January 11 due to slower refunds and better corporate tax mop-up.
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
Kanpur Police solved a robbery case leading to the discovery of a large hawala network. Six people were arrested, and investigations are ongoing to uncover the full extent of the illegal financial activities.
The income tax department's marathon "surveys" at BBC's offices ended on Thursday, after clocking over 58 hours in total, as officials prepared an inventory of financial data from select staffers and collected digital and paper data.
'Among corporates, about 60% of income is now reported under the new tax regime.'
Ahead of the Union Budget 2026-27, Indian business houses have urged the government to make demergers tax-neutral, particularly in cases involving transfer of investments in associate companies with 25 per cent or more shareholding, under the new Income Tax Act. This may possibly help some companies planning to go public, according to a source.
Officials said the agency has sought property details on ten serving and retired officials of the ministry of defence and the IAF.
According to official sources, complaints were received by the department that TDS was being collected arbitrarily by the payers. Another reason for this decision is that refunds from the department have also gone up. Sources said it should not affect the assessee who may be paying a high rate of TDS and is not compensated even after the employer or broking firm or any other organisation gets a refund on higher rate of TDS which may not be applicable to such income.
Income Tax Return forms in India are like the Golmaal series of movies. Every two years there is a new one.
'Tax cases are technical in nature... Many high courts do not have a tax bench, which also contributes to the delay.'
Congress MP Priyanka Gandhi has accused the ruling LDF in Kerala and Chief Minister Pinarayi Vijayan of being Prime Minister Narendra Modi's "B-team" and of secretly joining hands with the BJP, alleging a compromised leadership and lack of accountability.
Do not panic on receiving a notice. Verify if your work falls under professions notified in Section 44AA(1).
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
CBDT has been given a collection target of Rs 5.69 trillion in personal income tax in the fiscal year 2019-20 - 19.2 per cent more than the Rs 4.77-crore collection in the previous year.
You don't need to be intimidated by the thought of filing tax returns
With the online tax filing and automation of the tax process the number of mistakes made by taxpayers during filing of taxes have been reduced, but considering the importance of the information, a mistake or an error will be an invitation to trouble.
As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions. Debjyoti Das, principal chief commissioner of income tax (exemption), said the new Act has already reorganised exemption provisions into a clearer and more coherent structure, and the accompanying procedures and forms are now being examined.
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
With filing possible only online, there is no scope for any error.
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
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