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Searched Tag: income tax department

Flooding, especially, has been massive across the country during the monsoons, clubbed with other natural calamities that impeded usual business and professional activity

I-T audit report deadline extended by month

September 25, 2025, 06:22 PM - 2 min read

The CBDT said it has received representations from various professional associations, including chartered accountant bodies, highlighting certain difficulties being faced by taxpayers and practitioners in timely completion of the audit report

In a post on X, the I-T department said it had released a series of checks that could help people access the income tax e-filing portal.

ITR deadline extended by a day to Sept 16

September 16, 2025, 11:27 AM - 2 min read

A technical glitch in the ITR’s e-filing portal on Monday due to huge traffic has pushed the Income Tax department to extend the last date of filing income tax returns by another day

Govt collects ₹4.59L cr in direct taxes till June, down by 1.39%

June 21, 2025, 11:23 AM - 3 min read

India’s net direct tax collection dipped to ₹4.59 lakh crore in the first quarter of FY26, dragged by slowing corporate tax and muted advance tax inflows. Though personal income tax held steady and STT posted growth, the government’s fiscal watchers are likely to remain cautious ahead of the upcoming budget.

Due date for filing ITR extended

May 27, 2025, 06:26 PM - 1 min read

The last date for filing tax returns is now September 15

Govt notifies ITR-3 for business, professional income

May 2, 2025, 04:12 PM - 1 min read

Threshold for reporting assets, liabilities under Schedule AL raised from ₹50 lakh to ₹1 crore.

₹ 52 cr in gold, cash seized from abandoned SUV

December 20, 2024, 05:04 PM - 2 min read

The seizure happened during ongoing action by the Income Tax department in the city over the past few days.

Multiple locations being raided in Andaman and Nicobar Islands over suspected tax and GST irregularities.

Massive Income Tax raids underway in Andamans

December 7, 2024, 01:57 PM - 1 min read

"It is a well-coordinated operation and we will reveal the findings soon. We suspect irregularities in filing returns and GST-related issues," the official said.

Failure to disclose overseas income in ITR can cost ₹10 lakh

November 17, 2024, 02:41 PM - 3 min read

The Income-Tax Department has warned taxpayers that failing to disclose foreign assets or income in their ITR for AY 2024-25 could result in a penalty of ₹10 lakh under the anti-black money law, urging compliance as part of a new awareness campaign.

Security personnel at Sunil Srivastava's residence. Screengrab via X.

IT raids Jharkhand CM’s PS Sunil Srivastava, 7 others

November 9, 2024, 11:30 AM - 2 min read

Reacting to the raid, State Congress president Rajesh Thakur said that the Bharatiya Janata Party has started feeling that they are losing the elections. Last time they won 25 seats, this time they will win 15 seats, he added.

Vivad Se Vishwas 2.0: Lesser settlement amounts for those who file declaration by Dec 31

Income Tax Dept launches Vivad Se Vishwas 2.0 scheme

September 21, 2024, 04:17 PM - 2 min read

The Income Tax Department has launched the Vivad Se Vishwas Scheme 2.0, allowing taxpayers to settle income tax disputes at reduced amounts if they file declarations by December 31, 2024, with the scheme effective from October 1, 2024.