Income Tax

By Shailesh Yadav India’s tax administration has undergone a dramatic transformation over the past decade, with taxpayer refunds growing at nearly double the pace of tax collections, Ministry of Finance …

India’s gross direct tax collections for the financial year 2025-26 rose by 4.86 per cent to about Rs 5.45 lakh crore as of June 19, compared to about Rs 5.19 …

India’s direct tax collections have witnessed a robust growth of 19.06 per cent year-on-year (YoY), reaching Rs 21.88 lakh crore in the financial year 2024-25 (up to February 10, 2025), …

The Income tax department has already processed and issued refunds for 2.45 crore returns for assessment year 2023-24. A total of 6.98 crore ITRs were filed, with 6.84 crore of …

The Income-Tax Department has in the course of its verification process found that a prominent Tamil Nadu-based Bank has failed to comply with the statutory requirements of filing correct and …

The Union government today announced that it has released Rs 1.18 lakh crore to states as tax devolution which is double the “normal monthly devolution” of Rs 59,140 crore. “One …

Srinagar: On a complaint from the Income Tax Department, the Jammu and Kashmir police’s crime branch has registered two first information reports (FIRs) against 405 individuals, including a chartered accountant, …

The Income Tax Department is seeking to impose a tax on Netflix Inc’s income earned from streaming services in the country in what is the first such move to tax …

The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2023-24. These ITR forms will come into effect from 1st April, 2023 and …

The Union Budget – the fifth presented by Finance Minister Nirmala Sitharaman — reflects Prime Minister Narendra Modi’s emphasis on “India first, citizens first.” The feel good Budget has touched …

Chandigarh: While the Punjab police have failed to arrest one of the main accused in the Rs 5,600 crore National Spot Exchange Limited (NSEL) scam, Ludhiana businessman Kailash Aggarwal, the …

The gross collection of direct taxes during April to October 8 of the current financial year, has risen by 23.8 per cent to touch Rs 8.98 lakh crore compared to …

In conformity with the Government’s policy of facilitating ease of doing business and decriminalisation of offences, the Central Board of Direct Taxes (CBDT) has issued revised guidelines for compounding of …

The Income Tax Department has unearthed unaccounted income exceeding Rs 250 crore in a search and seizure operation carried out on a prominent Kolkata- based group, engaged in the manufacturing …

The Income Tax Department has detected unaccounted income of more than Rs 250 crore in a search and seizure operation against two prominent real estate groups in Kolkata, according to …

<p> The Income Tax Department has seized unaccounted cash to the tune of Rs 56 crore as well as bullion and jewellery worth Rs 14 crore in a search and …

<p> The Income Tax Department has unearthed unaccounted income exceeding Rs 150 crore in a search and seizure operation on a prominent Jaipur-based group, engaged in the business of gems …

<p> The Income Tax Department has detected a black money trail to the tune of Rs 80 crore in a raid carried out on a leading group engaged in the …

<p> The Income Tax Department has detected undisclosed income exceeding Rs 200 crore in a search and seizure operation against certain producers, distributors, and financiers associated with the film Industry …

<p> The Income Tax Department has unearthed unaccounted income of more than Rs 150 crore in search and seizure operations carried out on healthcare groups running hospitals in Delhi-NCR, according …

<p> The Income Tax Department has detected unaccounted transactions exceeding Rs 1000 crore in a search and seizure operation against a prominent Gujarat group on engaged in diversified businesses of …