co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
Under the Income Tax Act (ITA), 2025, the government has renumbered most sections without materially changing the core philosophy of the current Income Tax Act, 1961.
As compared to the corresponding period of last fiscal year, the net direct tax collections were up 9.4 percent on year.
The intent is very clear, no company in the IT, IT-enabled services or KPO space should be left without an avenue for tax certainty, whether through safe harbour or through APAs.
The companies plan to challenge the assessments before income-tax officers or the Dispute Resolution Panel, as the matter centres around the definition and scope of permanent establishment
As compared to the corresponding period of last fiscal year, the net direct tax collections were up 8.8 percent on year. This growth is lower than the projection made in the Budget.
Calling 2026 a year of "special significance" for the department, the CBDT chief urged the officials for their "readiness, understanding of the law and shared confidence in its implementation".
The central government has begun granting API access to tax portals, paving the way for AI-led automation tools for filings and compliance.
The initiative, which is advisory in nature, requires identified taxpayers to file revised income-tax returns (ITRs) by December 31, 2025.
ESOPs allotted to founders and executives of companies with externalised structures are in the radar of the tax department
If the taxpayer has failed to report foreign assets and income in the original ITR, there is an opportunity to rectify this through filing a revised return
As compared to the corresponding period of last fiscal year, the net direct tax collections were up 8 percent on year. This growth is lower than the projection made in the Budget.
The development comes as SFIO prepares to file its chargesheet against Vivo in a suspected diversion of more than Rs 2,000 crore
Anyone who received their PAN and Aadhaar before October 1, 2025, must link the two by December 31, 2025.
CBDT announced commencement of second phase of Nudge initiative targeting taxpayers who have undisclosed foreign assets.
CBDT will be sending SMSs and emails to taxpayers who’ve been identified as not disclosing foreign income and assets in the ITR filed for AY 2025-26.
SMS and email advisories to be sent from November 28 as CBDT strengthens voluntary compliance with foreign asset disclosure rules
Agrawal said a "negative growth" was being seen in refunds, maybe because refund claims have also gone down, even as TDS (Tax Deducted at Source) rates were rationalised.
The new law removes redundant provisions and archaic language and reduces the number of sections from 819 in the Income Tax Act of 1961 to 536 and the number of chapters from 47 to 23.
'Tax policy must clearly define who qualifies for an exemption. We cannot have a situation where any company with a few servers claims to be a data centre. The definition has to be precise and backed by clear conditions'
Administrative groundwork for the new tax system accelerates as Budget preparations near; government aims to finalise around 400 rules and 180 forms for a leaner framework
The Rajasthan High Court's Jodhpur Bench has issued an interim order in response to a writ petition filed by the Tax Bar Association Jodhpur. Similar petitions have been filed across the country.
CBDT rolls out a standard operating procedure for tighter monitoring of real estate transactions. CBDT has directed all its investigation directorates to adopt the model and submit compliance reports by October 31
The new income tax Act will come into effect from April 1, 2026
The Act paves way for a simplified and modernised tax regime from April 2026.
Of the 5.77 lakh pending appeals, over 2.25 lakh cases are targeted for disposal in FY 2025–26, potentially resolving more than Rs 10 lakh crore of disputed tax demand.
