Latest Income Tax News India — IT Department Updates

Latest income tax news including CBDT circulars, TDS rules, ITR filing updates, tax tribunal judgements, and I-T department enforcement.

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Income Tax 27 May 2026

Income Tax Return update: CBDT enables ITR

has enabled ITR forms for AY 2024-25, allowing early filing. Taxpayers should gather documents and file promptly to avoid penalties.
Income Tax 26 May 2026

Govt open to stakeholder views on reducing capital gains tax on stock investments: Finance minister | Business News

The Finance Minister is considering reducing capital gains tax on stock investments, potentially impacting investor sentiment and trading volumes. CAs and CFOs should monitor...
Income Tax 25 May 2026

AIS data errors, wrong PAN entries causing ITR filing trouble - The Economic Times

data errors, including incorrect PAN entries, are causing ITR filing problems. Taxpayers must reconcile data and report discrepancies to avoid penalties.
Income Tax 25 May 2026

Tax dept urges reporting entities to tighten AIS filings ahead of May 31 deadline - Business Today

The Income Tax Department is urging reporting entities to tighten AIS filings before the May 31 deadline. Accurate reporting is crucial to avoid penalties and scrutiny.
Income Tax 25 May 2026

Reassessment Order Invalidates When Section 148 Notice Is Issued Beyond Survival Period: ITAT

Reassessment Order Invalidates When Section 148 Notice Is Issued Beyond Survival Period: ITAT Studycafe
Income Tax 24 May 2026

CBDT Clarifies Form 18 Filing for Affordable Housing Projects Under Income Tax Rules 2026

Clarifies Form 18 Filing for Affordable Housing Projects Under Income Tax Rules 2026 CAclubindia
Income Tax 23 May 2026

Form 29 Mandatory for Amalgamated Companies Claiming Tax Loss Benefits Under Income Tax Rules 2026

Form 29 Mandatory for Amalgamated Companies Claiming Tax Loss Benefits Under Income Tax Rules 2026 CAclubindia
Income Tax 22 May 2026

UAE-based Indian expats urged to prepare key documents before ITR deadline - Gulf News

based Indian expats urged to prepare key documents before ITR deadline Gulf News
Income Tax 21 May 2026

ITR filing last date FY 2025-26 (AY 2026-27): Is July 31 deadline for income tax return this year? - MSN

filing last date FY 2025-26 (AY 2026-27): Is July 31 deadline for income tax return this year? MSN
Income Tax 20 May 2026

ITR Filing 2026: Here Are 5 Ways To E-Verify Your Income Tax Return - News18

Filing 2026: Here Are 5 Ways To E-Verify Your Income Tax Return News18
Income Tax 19 May 2026

Payroll mutual fund SIP: Will salary deductions unlock EPF, NPS-like income tax benefits for employees? - Moneycontrol.com

Payroll mutual fund SIP: Will salary deductions unlock EPF, NPS-like income tax benefits for employees? Moneycontrol.com
Income Tax 18 May 2026

PAN Card–From Banking to Property Deals, Major PAN rules changed - timesbull

Card–From Banking to Property Deals, Major PAN rules changed timesbull
Income Tax 17 May 2026

ITR Filing AY 2026-27 Has Started, But These 6 Important Tax Updates Could Make Waiting Till Mid-June

Filing AY 2026-27 Has Started, But These 6 Important Tax Updates Could Make Waiting Till Mid-June Free Press Journal
Income Tax 16 May 2026

Triple Lock could push state pensioners over HMRC income tax limit - Liverpool Echo

Triple Lock could push state pensioners over HMRC income tax limit Liverpool Echo
Income Tax

Old Vs New Tax Regime In Fy27 Which Option Saves More For Salaried Employees

Salaried employees must choose between the old and new tax regimes for FY27, with potential savings varying based on individual financial situations. Careful evaluation of...
Income Tax

ITR Filing Fy27 Are Super Senior Citizens Exempt From Filing Returns Times Now

Super senior citizens may be exempt from ITR filing under Section 194P if they are 75+ with only pension and interest income from a specified bank. Compliance hinges on meeting...
Income Tax

Labour Code Tax Rule Changes To Impact India Employee Take Home Pay

New Labour Codes effective July 1, 2026, cap allowances at 50% of total salary, increasing PF contributions and potentially reducing employee take-home pay. Companies must...
Income Tax

Dept Seeks Details From NRIs Offshore Firms On Unlisted Share Deals Flags Valuation And Fund The Economic Tim

The Income Tax Department is investigating NRIs' offshore investments in unlisted shares, focusing on valuation and fund sources. Non-compliance may result in penalties and prosecution.
Income Tax

Is Your Income Tax Notice Real New 2026 CBDT Rules Require A Din For Official Income Tax Correspondences Like Notice Ord

The CBDT now requires all Income Tax notices to have a Document Identification Number (DIN) starting May 2026 to ensure authenticity. Notices without a DIN will be considered...
Income Tax

Salaried Taxpayers Risk 15 Lakh Error Choosing Between Old And New Regimes

Salaried taxpayers risk significant tax miscalculations due to the complexity of choosing between the old and new tax regimes. Careful evaluation and professional advice are...
Income Tax

Supreme Court Rejects Tax Authoritys Appeal On Interconnect Service Charge Taxability

The Supreme Court rejected the tax authority's appeal on the taxability of interconnect service charges, impacting telecom operators' GST liabilities. This decision provides...
Income Tax

Analysis Implications Of New Capital Gains Regime For Buyback Tax In 2026

The Finance Act 2026 broadened capital gains tax on buybacks, effective April 1, 2026. Companies must reassess strategies to ensure compliance and optimize tax liabilities.
Income Tax

Department Denies Searches At Tamil Nadu Congress Chief K Selvaperunthagais House India News

Income Tax searches were conducted at 14 premises linked to TNCC chief K Selvaperunthagai on May 24, 2026, due to suspected tax evasion, potentially leading to penalties and...
Income Tax

TDS Under IT Act 2025 New Sections Same Rates Zero Confusion

The Income Tax Act 2025 introduces new TDS sections, particularly impacting virtual digital asset transactions, requiring updated compliance procedures. Non-compliance can lead...
Income Tax

Icai Releases Income Tax Act 2025 Edition With Mapping To 1961 Act

releases the Income Tax Act 2025 edition with mappings to the 1961 Act, aiding tax professionals in compliance. The update ensures accurate reporting and avoids potential...
Income Tax

Supreme Court Income Tax Escaped Assessment Notices Against Non Resident Ge Entities Invalid

The Supreme Court invalidated income tax escaped assessment notices against non-resident GE entities, impacting reassessment proceedings under Section 148. This ruling...
Income Tax

Govt Notifies Finance Act 2026 New Income Tax Rules Surcharge Changes Come Into Effect From April 1 Msn

The Finance Act 2026, effective April 1, 2026, introduces revised income tax rules and surcharge modifications impacting high-income earners and corporations. Taxpayers must...
Income Tax

Act 2025 Simplification Aims To Increase Voluntary Tax Compliance Official Says Goodreturns

Act 2025 aims to simplify tax laws to boost voluntary compliance amid concerns over declining rates. The initiative seeks to ease taxpayer burden and streamline tax administration.
Income Tax

Strategies To Minimize Capital Gains Tax When Selling A Home

Homeowners can minimize capital gains tax on home sales using strategies like the Section 112 exemption and reinvestment in another property. Proper documentation and planning...
Income Tax

CBDT Notification Rectifies 76 Errors In Income Tax Rules 2026

's Notification No. 56/2026 rectifies 76 errors in Income Tax Rules, ensuring accurate application and reducing compliance challenges. CAs and CFOs must update procedures to...
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