ITR Filing Deadline 2025 Extension Live Updates: Today is the ITR filing last date for the assessment year 2025-26. Tax professionals and bodies are urging the income tax department to extend the deadline. However, the income tax department has clarified that the current September 15 deadline remains intact and warned taxpayers against a fake message…
New Delhi: The Income Tax Department announced that over 6 crore income tax returns (ITRs) have already been filed for Assessment Year (AY) 2025-26, thanking taxpayers and professionals for helping cross the milestone. “Thank you taxpayers & tax professionals for helping us reach the milestone of 6 crore Income Tax Returns (ITRs) as of now…
Salaried individuals have paid 21% more in income tax during the first two months of the current fiscal year, contributing Rs85 billion, indicating that the nominal rate reductions in the budget were insufficient to ease their financial burden. Government sources stated that compared to Rs70 billion paid in income taxes during July-August of the previous…
Last Updated:August 24, 2025, 09:39 IST Winnings from such platforms are not treated like regular income; instead, they are governed by a special set of rules that leave little room for exemptions. Online Gaming Tax. If you’ve ever won money on Dream11, Rummy, or any other real-money gaming platform, the income tax department wants a…
New Delhi: The government has officially notified the Income-tax Act, 2025, which consolidates and amends the existing income tax law, replacing the over six-decade-old Income Tax Act, 1961. The Act received the President’s assent on August 21, according to a gazette notification issued by the Ministry of Law and Justice. The new simplified Act, which…
Tax authorities have called upon EY, the auditor of Jane Street’s Indian subsidiary, as they build a case against the US investor. The department has also obtained sworn statements from two staff members and a director of Jane’s local entity, as reported by Economic Times.Following a six-day investigation that yielded limited information from offshore servers,…
The Federal Board of Revenue (FBR) has introduced amendments to the income tax regulations for the fiscal year 2025-26, aiming to expand the tax base and curb non-compliance. As per official documents, non-filers withdrawing more than PKR 50,000 in a day from their bank accounts will now be charged a 0.8% withholding tax an increase…
Last Updated:July 16, 2025, 22:30 IST Notably, no opposition MP has raised any objections to the bill The parliamentary committee, chaired by BJP leader Baijayant Panda, has made a total of 285 recommendations to the draft legislation. Pic/News18 The central government is set to introduce and seek to pass the Income Tax Bill, 2025, during…
One key reason to file your ITR, even if you have no taxable income, is the ability to carry forward capital losses for future tax benefits. (AI image) By Surabhi MarwahITR filing FY 2024-25 (AY 2025-26: As the timeline for filing Income-tax Returns (ITR) approaches (September 15th for this FY, after extension), individuals, particularly those…
Mumbai: Tata Steel on Sunday said it has received a show-cause-cum-demand notice from the tax department over an alleged irregular use of input tax credit worth over Rs 1,000 crore for the financial years 2018-19 to 2022-23. In a filing to the stock exchanges, the company said that the notice was issued by the Office…
