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DARK SECRETS: Cbdt - The Real Truth

Taking a second loan for home loan repayment? Claim tax deduction on both under old tax regime for Tax Year 2026-2027

Homeowners can now potentially claim tax deductions on interest paid for both their original home loan and a subsequent loan taken to repay it, under the old tax regime. This benefit, supported by a 1969 CBDT circular and expected to continue under the Income-tax Act, 2025, allows for dual deductions…

The Economic Times

Income Tax department labels her stock market trader, denies investor status; she fights and wins Rs 54 crore capital loss claim at ITAT

Dolly Khanna successfully challenged the tax department's classification of her Rs 54 crore short-term capital loss as a business loss. The ITAT Chennai ruled she is an investor, not a trader, allowing the loss to be treated as a capital loss. This decision was supported by a 2016 CBDT circular…

The Economic Times

Income tax alert: These taxpayers could receive scrutiny notices by June 30, 2026 under Section 143(2)

The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY 2025-26 returns. An internal deadline of June 15, 2026, requires tax officers to forward selected cases for scrutiny. Taxpayers with errors can file updated returns or provide explanations during scrutiny.

The Economic Times

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Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27

The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specific risk parameters will mandate detailed examination by the I-T Department. A June 30, 2026 deadline is set for issuing scrutiny notices under Section 143(2).

The Economic Times

Sebi, CBDT ease PAN rules for foreign investors after onboarding concerns

Sebi and CBDT relaxed PAN compliance requirements for foreign portfolio investors after concerns over complex onboarding rules. The clarifications simplify documentation, contact disclosures and taxpayer identification requirements, aiming to maintain seamless foreign investor access and improve ease of doing business in Indian financial markets.

The Economic Times

Good news for taxpayers! Faster tax refunds, quicker dispute resolution, TDS framework improvements and more planned by CBDT for 2026-27

Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes. The Central Board of Direct Taxes' Central Action Plan for 2026-2027 outlines a roadmap for a more taxpayer-centric and technology-driven tax administration. This plan aims to streamline processes, enhance efficiency, and improve overall taxpayer services,…

The Economic Times

Decoding the Adani-Hindenburg judgment

Supreme Court order on Adani-Hindenburg matter limits inquiries to SEBI, ruling no regulatory failure; verdict raises questions on transparency & justice.

The Hindu

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I-T department seizes cash ahead of Assembly elections in five States

I-T dept seizes more unexplained cash in run-up to Assembly elections in five States. CBDT chairman Nitin Gupta said pre-election monitoring of cash and surveillance is intense.

The Hindu

11.5 crore PAN cards deactivated after missing deadline for linking with Aadhaar: RTI reply

For new applicants of PAN card, the Aadhaar-PAN linking is done automatically during the application stage.

The Hindu

‘Super rich’ incomes’ share ebbing amid middle-class mobility: CBDT

India's tax base has widened since 2013-14, with individuals moving up the income ladder and the proportion of super-rich taxpayers' incomes declining. Number of I-T returns filed by individuals rose from 3.36 crore to 6.37 crore, while the proportion of gross total income of top 1% taxpayers decreased from 15.9%…

The Hindu

Net direct tax collections up 21.8% to ₹9.57 lakh crore

India's direct tax collections rose 21.8%, surpassing over half of Budget estimates. Refunds of up to ₹5,000 not restricted. Tax demands from past being raised, some due to tech shift. 7.27 cr returns filed, 7.15 cr verified. Gross collections up 18%, PIT revenues 29.5%. Net revenues 31.85%.

The Hindu

Govt. extends tenure of CBDT Chairman Nitin Gupta by nine months

The Union Government gave a nine-month extension in service “on contract basis” to CBDT Chairperson Nitin Gupta

The Hindu

Details of unaccounted-for wealth highly classified: Government

National Institute of Public Finance and Policy (NIPFP) refused to reveal information on unaccounted income/wealth inside/outside India, citing economic interest of country.

The Hindu

Explained | Decoding the expert committee report on Adani

Explaining the expert committee report on Adani which has shown regulatory fault with SEBI

The Hindu

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The Times of India

Govt allows non-resident taxpayers to manually file Form 10F till March 31 for claiming TDS benefit

NEW DELHI: The income tax department has allowed non-resident taxpayers not having PAN to file Form 10F manually till March 31, 2023, a move which would ease their compliance burden and enable them to claim lower TDS rate.

The Times of India

Common ITR form for all taxpayers on anvil, I-T dept invites stakeholder comments

MUMBAI: The finance ministry on Tuesday proposed to come out with a user-friendly common income tax return form for all taxpayers, under which income from virtual digital assets will have to be disclosed under a separate head.

The Times of India

Confusion over selecting ITR form may end

NEW DELHI: The government may finally end the confusion over which form to select for filing income tax returns. On Tuesday, the Central Board of Direct Taxes (CBDT) woke up to the need to simplify life of taxpayers and floated a draft for public consultations.

The Times of India

CBDT extends deadline for filing TDS for non-salary transactions till November 30

NEW DELHI: The Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing quarterly TDS statement in Form 26Q for the June quarter by a month till November 30.

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The Hindu

SBI rejects former CBDT chairman’s claim for his money swindled by scammers

Though the fraudulent transaction was partly frozen, bank refuses to return money citing negligence of customer

The Hindu

SBI rejects CBDT former chairman’s claim of his money being swindled by scammers

Though the fraudulent transaction was partly frozen, bank refuses to return money citing negligence of customer

The Hindu

I-T Department detects over ₹150 crore black income after raids on Rajasthan group

The Central Board of Direct Taxes said the I-T Department has seized "unaccounted assets" of over ₹11 crore so far. The CBDT frames policy for the Tax Department.

The Hindu

Prompt grievance redressal of taxpayers top priority, says CBDT chairman Nitin Gupta

In his message on the occasion of Income Tax Day, he said the tax department has reported the highest ever tax collection of ₹14.09 lakh crore

The Times of India

Rs 18.5 crore jewellery, Rs 3.5 crore cash seized from realty firms

BENGALURU: Income tax department sleuths on Monday carried out searches at over 40 locations connected to two leading real estate groups of Bengaluru and Hyderabad engaged in construction, educational and hospitality services.

The Hindu

IRS officer Nitin Gupta appointed new CBDT chairman

The CBDT is headed by a Chairman and can have six members who are in the rank of special secretary. It is the administrative body for the Income Tax department.

Dynamite News

Bureaucracy: Nitin Gupta appointed as Chairman CBDT

The Government of India on Monday appointed IRS Nitin Gupta as chairman of the Central Board of Direct Taxes (CBDT). Read more on Dynamite News:

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