17+ hour, 18+ min ago   (622+ words) India is set to usher in a new era of direct taxation from April 1, when the Income Tax Act, 2025, comes into force, formally replacing the six-decade-old Income Tax Act, 1961. The new legislation is aimed squarely at simplification, clarity and ease…...

3+ day, 21+ hour ago   (316+ words) Income Tax Refund Delay: Many taxpayers who filed their income tax returns (ITRs) for the financial year 202425 (assessment year 202526) are growing anxious over delays in receiving refunds. This comes even as the Income Tax Department remains well within the statutory…...

4+ day, 20+ hour ago   (258+ words) However, there are some provisions such as Search and Survey operations under Section 247 of the Income Tax Act, 2025 that allows income tax department to access private digital spaces of an individual. It can happen only in case of evidence of…...

1+ week, 2+ day ago   (311+ words) ICICI Bank has announced the launch of the Capital Gains Account Scheme (CGAS), a facility that allows taxpayers to park unutilised long-term capital gains or sale proceeds and claim tax exemptions while earning interest on the deposited amount. The launch…...

1+ week, 3+ day ago   (93+ words) For the April-December 2025 period, gross GST revenues total Rs 16.50 lakh crore, marking an 8.6% increase from Rs 15.19 lakh crore collected during the same period last year. India's GST Collection Rises 6.1% YoY In December 2025; Details Here GST Collection December 2025: India's goods and…...

1+ week, 4+ day ago   (323+ words) Note that December 31 is the last day to file a belated income tax return (ITR) for the financial year 2024-25. For those who fail to file, they will be required to file Updated ITR later, with a penalty. The messages are…...

2+ week, 2+ day ago   (601+ words) India's tax system is on the cusp of one of its most significant transformations in over six decades. The Income-tax Act, 1961, the principal law governing direct taxes for generations, is being replaced by the Income-tax Act, 2025. The changes for taxpayers…...

2+ week, 3+ day ago   (210+ words) Income Tax Refund: The Income Tax Department has started sending SMS alerts and emails to some taxpayers whose income tax refunds are still pending, saying that the return is "under the risk management process" and advising taxpayers to file a…...

2+ week, 5+ day ago   (490+ words) A rising number of salaried taxpayers awaiting refunds for Assessment Year 202526 are seeing their income tax returns remain pending for extended periods. The Income Tax Department has temporarily paused refund processing in cases where exemption claims made in the return…...

2+ week, 6+ day ago   (311+ words) 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…...