Income Tax Department

GAAR grandfathering not an absolute shield; Income Tax Dept can still probe ‘arrangements’ to deny treaty benefits

The March 31 amendments were aimed to reassure investors that past transactions won’t be questioned, though deals structured solely for tax benefits could still face scrutiny, an official said.

NSE asks brokers to disclose and remit excess STT collected for FY24 and earlier

The exchange said brokers must also remit the excess STT along with interest at 1 percent for every month of delay to NSE immediately under intimation to the income tax department.

Why did taxpayers claiming deductions receive emails? Income Tax Department explains

Taxpayers whose deduction or exemption claims are accurate and fully compliant with the law are not required to take any further action.

ITR filing deadline extended from July 31, 2025 to September 15, 2025

This extension will provide more time due to significant revisions in ITR forms, system development needs, and TDS credit reflections, says CBDT

IT sleuths target brokers for proprietary trading abuse

Several brokers were served IT notices suspected of misusing trading terminals and masking third-party trades as loan entries

MNCs stare at tax notices over corporate guarantees extended to Indian subsidiaries

The Indian units of MNCs typically pay their foreign parents 1-2% of outstanding debt as a fee for such guarantees. The foreign parent companies have been considering this payment as interest and arguing that it should be taxed at a lower rate.

Not against common taxpayer, new Income Tax bill won't breach taxpayer's online privacy: Report

The government has brought the new Bill in order to change the decades-old I-T Act of 1961 with an aim to make the bulky direct tax law simpler and easier for the taxpayers.

Action by I-T Dept should be proportionate, use enforcement as last resort: FM Sitharaman

'Sense of fear should not be there in assessees, so notices sent should be simple and straightforward,' Sitharaman urges CBDT

BCCI paid Rs 2,038 crore GST in FY23, FY24

Minister of State for Finance Pankaj Chaudhary said BCCI, which is the apex body for the promotion of cricket in India, is an autonomous body registered under the Tamil Nadu Societies Registration Act, 1975

Ravi Agrawal appointed CBDT chairman

He takes over from Nitin Gupta, a 1986-batch Indian Revenue Service officer, whose extended tenure as the chairman ends on June 30

Income tax department notifies cost inflation index for current fiscal

It is popularly used to calculate 'indexed cost of acquisition', while calculating capital gains at the time of sale of any capital asset

Income tax department rolls out new functionality in AIS

The Income Tax Department has now rolled out a new functionality in AIS to display the status of the information confirmation process.

ED, I-T actions on Kejriwal, Congress spark election conduct debate. Can the Election Commission step in?

Amid opposition concerns about their impact on fair elections, former Election Commission officials are of the view that the poll body is empowered to intervene if the actions of ED and income tax department substantially disrupt the level playing field.

Bank of India receives Rs 1,128 crore tax demand order

BOI has stated that it is currently in the process of lodging an appeal with the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) against the order.

Delhi HC reserves order on Congress' pleas against tax re-assessment proceedings

The court reserved its order on the pleas filed by the Congress party and is likely to pronounce it in the next couple of days.

Delhi HC reserves Congress plea against ITAT order for judgment

During the course of the hearing, the bench led by Justice Yashwant Varma observed that the court is inclined to send the case back to ITAT to reconsider whether a stay could be granted subject to deposit of 20 percent of the disputed amount.

Delhi HC to hear Congress's appeal against ITAT order on March 12

On March 8, the court dismissed Congress' plea seeking a stay on IT lien on its bank accounts. The party had sought an urgent hearing of the appeal against ITAT order at the Delhi High Court on March 11

No demand for tax deposition: Shree Cement clarifies on report of receiving Rs 4,000 cr final IT notice

The cement-maker said it received a notice from the taxation body last month, asking it to "sum-up and summarise its response on the inquiry being made" by the I-T department.

SC asks Madras HC to decide Cognizant plea over Rs 9,400-cr tax demand in 6 weeks

In December 2023, a division bench of the Madras High Court granted an interim stay against the Income Tax department's demand from Cognizant. In lieu of the stay, the court had asked the company to deposit of Rs. 1,500 crore in addition to giving property security for the balance tax liability with interest and penalty.