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For AY 2025–26, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITRs) from July 31, 2025, to September 15, 2025. In the notified ITR forms, the CBDT quoted comprehensive structural and content revisions as the cause for extension. The amendment is to ease compliance, improve transparency, and […]
The Central Board of Direct Taxes (CBDT), in anticipation of the passage of the upcoming Income Tax Bill, has established an implementation program. As per the action plan for FY 2025-26, the Board aims to educate at least half of its workforce by the end of March. The new Income Tax Bill, following its introduction […]
The revised Form ITR-U under Notification No. 49/2025, published in the Official Gazette, has been notified under the Central Board of Direct Taxes (CBDT). The new form replaces the earlier version of ITR-U found in Appendix II of the Income-tax Rules, 1962. The updated Income tax return form, applicable u/s 139(8A) of the Income-tax Act, […]
The amended Income-tax Return Form ITR-7 has been notified by the Central Board of Direct Taxes (CBDT) through Notification No. 46/2025, published in the Gazette of India on May 9, 2025. The amendment shall come into force on April 1, 2025, and will be applicable for the Assessment Year 2025-26. Issued under section 295 read […]
The Central Board of Direct Taxes (CBDT), which is part of the Ministry of Finance, has announced new changes to the income tax rules. This announcement, known as the Income-tax (Seventeenth Amendment) Rules, 2025, was made on May 7, 2025, through Notification No. 45/2025. The formats of ITR-V (Verification Form) and ITR-Acknowledgement under Rule 12 […]
CBDT has asked income tax officials to track advance taxpayers and identify fake claims of exemptions and deductions in order to improve direct tax collections in the current fiscal year. The central action plan (CAP) for 2025-26 has been issued via the Central Board of Direct Taxes, the policy-making body for the department, which guides […]
The Central Board of Direct Taxes (CBDT) has issued Notification No. 40/2025, dated April 29, 2025, which announces the Income-tax (Twelfth Amendment) Rules, 2025. These modifications to the Income-tax Rules of 1962 will take effect on April 1, 2025. The modifications will affect the Income Tax Return (ITR) filing for the Assessment Year 2025-26. Top […]
As per Notification No. 38/2025 issued by the CBDT, companies cannot claim tax deductions for money spent on settling cases involving violations of key financial and competition laws. According to the CBDT, expenses incurred to resolve proceedings under four specific laws will not be considered business expenses. Such statutes are: the Securities and Exchange Board […]
The Central Board of Direct Taxes (CBDT) issued notification no. 35/2025 to widen the tax base and ensure effective monitoring of high-value transactions by revising the Income Tax Rules, 1962. The newly released Income-tax (11th Amendment) rules, 2025, section 295, read with section 206C of the Income-tax Act, 1961, sellers are now obligated to collect […]
