New income-tax return (ITR) forms and related rules will be notified by the Income Tax Department by January 2026, with implementation set for April 1, 2026, as part of the transition to the Income Tax Act, 2025. Central Board of Direct Taxes chairman Ravi Agrawal emphasized that the new forms will be designed to be […]
The Central Board of Direct Taxes has extended the Income Tax Return (ITR) filing due date for Assessment Year (AY) 2025-26 from September 15 to September 16. The e-filing portal will undergo maintenance from 12:00 AM to 02:30 AM on September 16. This extension follows an earlier one from July 31 to September 15. Over […]
New Delhi, July 25 (IANS) The use of simplified language in the new Income Tax Bill, 2025 marks a significant shift in making the provisions easier to understand, reducing the potential for misinterpretation and enhancing taxpayer-centricity and compliance, according to Finance Minister Nirmala Sitharaman. Urging the I-T Department to accelerate disposal of disputed tax demands pending […]
Ahmedabad, July 2 (IANS) Gujarat has registered an uptick in its Goods and Services Tax (GST) revenue for the month of June 2025, collecting Rs 6,150 crore, marking an 11 per cent increase compared to Rs 5,562 crore in June 2024. This growth outpaces the national average, which stood at six per cent, according to an […]
New Delhi, June 30 (IANS) The government has extended the tenure of Ravi Agrawal as the Chairman of the Central Board of Direct Taxes (CBDT) by another year. The CBDT is the apex policymaking body of the Income Tax Department, and its chairman and members are senior Indian Revenue Service officers. “The Appointments Committee of the […]
The gross direct tax collection (corporate tax, non-corporate tax, securities transaction tax and other levies) in the current fiscal (2025-26) rose by 4.86 per cent to Rs 5.45 lakh crore (as of June 19), according to the latest figures released by the Income Tax (I-T) department. However, net collections saw a marginal decline due to […]
