New Delhi, April 10 The Income Tax Department disposed of 2.22 lakh appeals during the last financial year, a nearly 29 per cent increase compared to the previous fiscal, as part of its efforts to reduce disputes with taxpayers, according to official data.Officials told
New Delhi, Apr 1 The Income Tax Act, 2025, which came into effect on Wednesday, marks a new chapter in India's tax administration and is an important step towards Viksit Bharat, the Central Board of Direct Taxes (CBDT) said.The new Act replaced the six-decade-old Income Tax Act, 1961, and...
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With the start of the new financial year today, a set of reforms, including key changes to financial regulations, will come into effect.The Income Tax Act, which has been in place for over six decades, will be replaced by the new Income Tax Act, 2025, starting today. This is designed to...
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New Delhi, March 30 The income tax department said on Monday that "banking companies" governed by the provisions of the Banking Regulation Act, 1949, will deduct TDS (Tax Deducted at Source) on interest income exceeding the prescribed threshold.Under the Income Tax law, tax is to be deducted...
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Bengaluru, March 23 The Karnataka Legislative Assembly passed the Karnataka Tax on Professions, Trades, Callings and Employments (Amendment) Bill, 2026, on Monday, aimed at simplifying compliance and reducing the procedural burden on taxpayers.Explaining the provisions, state Revenue Minister...
New Delhi, March 20 Finance Minister Nirmala Sitharaman on Friday urged income tax officers to make the process easier for taxpayers and use technology to catch those deliberately evading taxes.Addressing the 'PRARAMBH 2026: Nationwide Awareness Campaign on the Income Tax Act, 2025', the...