Income Tax News

Income Tax Department Invites Suggestions for Simplification of Tax Rules and Forms

11 March 2025 at 09:00

In a move to enhance efficiency and ease of compliance, the Income Tax Department has launched a dedicated initiative to simplify income tax rules and forms.

Posted in Income Tax | 2559 Views

ICAI Seeks Simplification of Income Tax Bill 2025, Recommends Fewer Sections and Clarity in Language

10 March 2025 at 08:57

The Institute of Chartered Accountants of India (ICAI) has submitted its recommendations to the Lok Sabha select committee currently reviewing the Income Tax Bill, 2025.

Posted in Income Tax | 4119 Views

India Needs Taxpayer-Friendly Reforms, Not Just Enforcement

08 March 2025 at 08:42

India's long-standing struggle between taxpayers and the tax office was supposed to end this year with the introduction of a new income tax law aimed at simplifying compliance and improving relations between the government and taxpayers.

Posted in Income Tax | 411 Views

Income Tax Department Alerts Taxpayers About Fake Tax Refund Scams

07 March 2025 at 09:04

The Income Tax Department has issued an urgent warning to taxpayers, cautioning them against fraudulent calls and messages related to income tax refunds.

Posted in Income Tax | 8559 Views

New Income Tax Bill: Tax Officers Could Gain Access to Emails & Social Media for Tax Scrutiny

06 March 2025 at 08:35

While the government claims the bill is meant to simplify India's tax laws, a controversial provision buried within the draft has raised concerns over digital privacy.

Posted in Income Tax | 2835 Views

Updated List of Banks Enabled for Direct Tax Payments on e-Filing Portal

05 March 2025 at 08:49

In a move to streamline tax payments, the Income Tax Department has expanded the list of banks available for tax payments through the e-Pay Tax service on the e-Filing Portal

Posted in Income Tax | 684 Views

Direct Tax Code 2025: Major Reforms & Why Experts Are Concerned

04 March 2025 at 08:39

The recently introduced Direct Tax Code (DTC) 2025 aims to simplify India's tax regime, addressing long-standing demands from taxpayers for greater clarity and ease of compliance.

Posted in Income Tax | 1653 Views

Income Tax Bill 2025: GAAR-Based Reassessments May Extend Beyond Time Limits

01 March 2025 at 08:45

The Income Tax Bill 2025 proposes a major shift in tax reassessment rules, allowing authorities to issue notices under the General Anti Avoidance Rules (GAAR) even for tax years that have crossed the prescribed time limits.

Posted in Income Tax | 1767 Views

Lok Sabha Select Committee to Review Income Tax Bill 2025 on March 6-7

01 March 2025 at 08:45

The Select Committee of the Lok Sabha, chaired by Bharatiya Janata Party (BJP) Vice President and Lok Sabha MP Baijayant Panda, will examine the Income-Tax Bill 2025 on March 6 and 7, 2025.

Posted in Income Tax | 1353 Views

Income Tax Department Issues Notices Over Section 87A Rebate Claims on Capital Gains

28 February 2025 at 08:53

The Income Tax Department has started issuing demand notices to taxpayers who claimed a rebate under Section 87A on short-term capital gains (STCG) in their Income Tax Returns (ITRs).

Posted in Income Tax | 1 comments | 22176 Views