News
Govt Debunks Viral Claim, Says I-T Dept Has No Blanket Access To Private Digital Data Under New Act
5+ hour, 4+ min ago The government on Monday dismissed a social media claim suggesting that the income tax department will gain sweeping powers to access private digital data such as emails and social media accounts from April 1, 2026, calling the information "misleading". In a post…...
ITR Refund: Fake Tax Deductions Under Scanner; Sections In Focus And What You Should Do
4+ day, 8+ hour ago Income Tax Refund 2025: In a widespread investigation, the income tax department has uncovered large-scale misuse of deductions by taxpayers. The tax department used data analytics and AI tools to identify fake or inflated claims such as false TDS filed via…...
Will The New Labour Codes Reduce Your Take-Home Pay? What Govt Clarifies
1+ week, 4+ day ago The Ministry of Labour & Employment has calmed the worries of employees to see a reduction in take-home salary following the implementation of the new Labour codes in a fresh clarification. The Ministry underlined that the new Labour Codes will not…...
Do You Need To Pay Advance Tax By December 15? Check Who Should File And Penalty Details
2+ week, 2+ day ago Advance Tax Payment Due Date: The deadline for the third installment of Advance Tax payment is approaching on December 15, 2025. Those who fail to do so will bear the monetary penalties. Advance Tax scheme allows taxpayers to pay tax in advance…...
Do You Need To Pay Tax On Gifts Received At Wedding? Experts Explain The Rules
2+ week, 4+ day ago Wedding Gift Tax Exemption in India: The wedding season is currently underway across India. Gifts are typically given by family members and relatives as a token of affection. With crores being spent in the exchange of gifts during weddings, a…...
'Tobacco Prices Increased Annually Even Before GST': Nirmala Sitharaman During Excise Bill Debate
2+ week, 5+ day ago Finance Minister Nirmala Sitharaman on Wednesday said higher prices or taxes on tobacco products are intended to act as a deterrent so that people would not get into the habit. She said that even before the GST regime, tobacco rates…...
CBDT Rolls Out NUDGE Drive To Catch Undisclosed Foreign Assets; How To Report Yours Correctly
3+ week, 2+ day ago According to press release of tax department, analysis of AEOI information for FY 2024-25 (CY 2024) has identified high-risk cases where foreign assets appear to exist but have not been reported in the ITRs filed for AY 2025-26. Those who fail to comply…...
Joint Property Purchase: How Co-Owners Can Claim Separate Capital Gains Tax Benefits
3+ week, 3+ day ago With the rising real estate cost, especially in metropolitan areas, the trend of purchasing a property jointly is increasing. Under co-owning a property, two or more persons are equal owners, though it brings an intriguing aspect to the tax planning…...
You May Need To Revise ITR Before December 31: CBDT Begins 2nd NUDGE For Foreign Asset Compliance
3+ week, 4+ day ago Taxpayers who may have undisclosed foreign assets could soon receive alerts from the Income Tax Department, with the Central Board of Direct Taxes (CBDT) launching the second NUDGE initiative to strengthen voluntary compliance. The programme begins on November 28, 2025, will allow…...
Income Tax Refund Delay 2025: Reasons, Release Date, How To Check Status, User Manual, All You Need To Know
3+ week, 4+ day ago Income Tax Refund Delay 2025: Many taxpayers are still waiting for their income tax refunds, even as the payouts this year have been delayed longer than usual for some people. Though a large number of taxpayers have already received it, some…...