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Income Tax News

05 May 2025

Chosen New Tax Regime For AY 2025-26? Changes In ITR 1 You Should Know

CBDT has announced several changes in the ITR forms this including that in ITR-1 (SAHAJ) and ITR-4. Here are 6 Changes regarding ITR-1 (SAHAJ) that salaried individuals should know.

small savings scheme

05 May 2025

Opted For New Or Old Tax Regime? Doesn’t Matter! You Can Claim Tax Exemption

Here are the investment schemes on which investors can claim tax exemption for interest earned, whether they are in the New or Old Regime.

01 May 2025

Major Tax And GST Related Deadlines For You In May 2025: Check List

Several deadlines related to personal taxation, GST are set for the month of May. Check out the listicle.

24 Apr 2025

1% Tax On All Luxury Goods Priced Above Rs 10 Lakh --Check Full List Of Items

The CBDT has said that luxury goods of value exceeding Rs10 lakh will attract TCS (tax collected at source).

23 Apr 2025

Last Chance To Settle Your Tax Dispute Out Of Court As Vivad Se Vishwas Scheme

Income Tax: The Vivad se Vishwas Scheme was announced by Union Finance Minister Nirmala Sitharaman in the 2024 Budget and officially came into effect on October 1, 2024.

22 Apr 2025

Now Pay Taxes With Few Clicks Using New ‘e-Pay Tax’ Feature; Here's How to Use

Income Tax New Feature: The ‘e-Pay Tax’ feature is designed to remove the hassles of traditional tax payment methods and is available to both registered and unregistered users.

Income Tax notice

19 Apr 2025

Income Tax Alert: These 6 Transactions Can Get You Notice From I-T Department

Receiving a notice from the Income Tax Department can feel stressful, even when you've filed your returns correctly and on time. But certain high-value or suspicious transactions can still put you on their radar. Here's a reader-friendly guide to six financial moves that may result in a tax notice—and how to stay on the safe side.

18 Apr 2025

Income Tax: Does IT Department Track Your UPI Transactions? Find Out

UPI transactions are also monitored by the Income Tax Department just like other forms of income.

savings account

16 Apr 2025

How Much Money Can You Deposit In Savings A/c? What Is Single Day Cash Limit?

The Reserve Bank of India (RBI) has clear guidelines on per day and per year savings account cash deposit. Though there is no limit to how much money you can keep in your savings account, you need to know the official requirements.

12 Apr 2025

Which ITR Form Is Right For Senior Citizens In FY 2024-25? Check New Tax Slab

ITR Forms 2025-26 For Senior Citizens: Adding further, many senior citizens mistakenly assume that filing returns isn't necessary if tax is already deducted at source (TDS) on their income. However, this is incorrect.

06 Apr 2025

Swiggy Faces Tax Demands Worth Over Rs 165 Crore In Pune; Know Reason

According to the order, the larger tax demand stems from issues like cancellation charges paid to merchants, which tax authorities have disallowed under Section 37 of the Income-tax Act, 1961.

01 Apr 2025

5 Latest TDS Rules From Today 1 April 2025: For Senior And General Citizens

Here is a list of the changes in Tax Deducted at Source (TDS) for senior and general citizens that will take effect on April 1, 2025.

31 Mar 2025

Income Tax Dept Asks Auto components manufacturer Bosch To Pay Up Rs 20 Crore

Its revenue from operations rose to Rs 4,466 crore for the third quarter compared to Rs 4,205 crore in the year-ago period.

28 Mar 2025

'From Birth To Death': MP Raghav Chadha Highlights Pain Of Middle Class

MP Chadha said that the common man faces a 'tax to live, tax to die – and tax on every breath.' He said that the burden of tax begins even before a child opens their eyes.

28 Mar 2025

Tax Dept To Tighten Noose Around Tax Filers From April 1

Tax authorities will be able to make a forced entry into your premises upon detecting suspicious activitiy under applicable law. Besides, they can also access computer systems, emails or social media accounts over suspected tax evasion.

26 Mar 2025

Budget 2025-26: Tax Reduced On EVs Priced Above Rs 30 Lakh In THIS State

Tax Deduction On EV Vehicle: Adding further, the Finance Minister announced a 7 per cent tax on light goods vehicles (LGVs) carrying up to 7,500 kg, expected to bring ₹625 crore to the state exchequer.

15 Mar 2025

Advance Tax Deadline Ends Today: Check Who Are Exempted

As per the Income-Tax (I-T) Act, 1961, individuals whose estimated tax liability exceeds Rs 10,000 during the year are required to pay advance tax.

12 Mar 2025

5 New TDS Rules From 1 April 2025: All You Want To Know

Below is a summary of the changes in Tax Deducted at Source (TDS) that will take effect on April 1, 2025.

e-Pay Tax Service

08 Mar 2025

Income Tax Dept Updates List Of 30 Banks For e-Pay Tax Service – Check Here

With these additions, a total of 30 banks are now available for online tax payments through the e-Filing portal.

07 Mar 2025

ITR Filing: Check Out 5 Post Office Schemes That Lets You Save Rs 1.5 Lakh

ITR Filing 2025: A bouquet of Post office small saving schemes allow individual tax filers to save Rs 1.5 on Income Tax under 80C. However, people should avail of it before March 31 of the financial year, in order to save taxes.

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