Stay updated with the latest income-tax news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on income-tax topics.
New Delhi, Jul 20 (PTI) Star Indian long jumper Murali Sreeshankar clinched the title with a leap of 7.75m at the Meeting Maia Cidade do Desporto in Maia, Portugal, a World Athletics Continental Tour Bronze-level meet. The Asian Games silver medallist registered his best effort in the second round on Saturday night. Sreeshankar opened with a 7.63m jump, followed it up with his winning leap of 7.75m in the second round, and then recorded a solid 7.69m. His third attempt was a foul, while his fi ...Read More >
New Delhi [India], July 20 (ANI): A day before the monsoon session of Parliament, Aam Aadmi Party (AAP) MP Sanjay Singh on Sunday said that his party will raise several key issues, including US President Donald Trump's repeated claims of mediating a ceasefire between India and Pakistan for a proposed US trade deal. Demanding a clarification from the centre, Singh said that Prime Minister Narendra Modi must give a statement regarding Trump's claims of "ceasefire" in the name of the trade deal. ...Read More >
New Delhi [India], July 20 (ANI): Prominent leaders from various political parties attended an all-party meeting convened by the central government on Sunday, ahead of the Monsoon Session of Parliament, which is scheduled to begin on Monday, July 21. The session will continue till August 21, with no sittings on August 13 and 14 due to Independence Day celebrations. Among the leaders present were Congress MPs K Suresh and Jairam Ramesh, Shiv Sena MP Shrikant Shinde, Union Minister Anupriya Pate ...Read More >
New Delhi, Jul 20 (PTI) A report of the parliamentary committee set up to scrutinise the new Income Tax Bill, 2025, which would replace the six-decade old Income Tax Act, is scheduled to be tabled in the Lok Sabha on Monday. The 31-member Select Committee, chaired by BJP leader Baijayant Panda, was appointed by Lok Sabha Speaker Om Birla to scrutinise The new Income Tax Bill, 2025, which was introduced by Finance Minister Nirmala Sitharaman on February 13 in the Lok Sabha. The Committee has ma ...Read More >
Patna: The Central Bureau of Investigation (CBI) on Wednesday formally arrested Aditya Saurabh, an Indian Revenue Service (IRS) officer, along with an income-tax inspector and a multi-tasking staff (MTS) member in Patna in connection with a bribery case involving Rs 2 lakh. All three were remanded in three days' CBI custody by the CBI special court-1 in Patna.According to CBI sources, Aditya Saurabh, a 2021-batch IRS officer, is currently serving as assistant director in the income-tax Departmen ...Read More >
Nagaland Lottery result, July 19, 2025: The much-awaited Nagaland Lottery results for July 19, 2025 are all set to be out. It offers exciting chances to win top prizes up to ₹1 crore. Lottery players can now check the winning numbers for the Dear Lottery 1 PM, 6 PM, and 8 PM draws along with complete prize details. Stay updated with the latest draw results, prize structure, and how to claim your winnings from this popular legal lottery of Nagaland. Note: For the latest Nagaland Lottery results ...Read More >
Jammu, Jul 18 (PTI) Senior officials of the Jammu and Kashmir government reviewed the arrangements for the smooth conduct of the 13-day-long Budha Amarnath pilgrimage in Poonch district that will begin on July 28. Deputy Inspector General of Police Tejinder Singh reviewed security in Poonch and stressed ensuring the safety of the devotees. "The first batch will depart from the Bhagwati Nagar basecamp in Jammu on July 28, moving towards the Mandi tehsil in Poonch in a regulated convoy amid full ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday arrested former Chhattisgarh chief minister Bhupesh Baghel's son Chaitanya Baghel for his alleged involvement in a liquor scandal. He was later produced in a court in Raipur, which sent him to five-day ED custody. The arrest followed a search at Baghel's house in Bhilai on Friday morning. The former CM and Congress leader confirmed the arrest in a post on X, "thanking" Prime Minister Narendra Modi and home minister Amit Shah for the "birthd ...Read More >
Union Minister of Parliamentary Affairs Kiren Rijiju will hold a meeting with the floor leaders of political parties in both the Houses of Parliament, ahead of the Monsoon Session of Parliament scheduled to begin on Monday. The meeting will be held in Main Committee Room, Parliament House Annexe. The meeting will be followed by a media briefing. The meeting will commence at 11:00 AM, as per an official communication. The Government had earlier announced the schedule for the Monsoon Session of ...Read More >
Jaipur (Rajasthan) [India], July 18 (ANI): Former Chief Minister of Rajasthan and Congress leader Ashok Gehlot on Friday expressed his support for Rahul Gandhi witch-hunt remarks regarding the Enforcement Directorate (ED) chargesheet against his brother-in-law and businessman Robert Vadra. Gehlot criticised the ED investigation and further alleged that the central government is misusing various agencies, including the ED, CBI, and the Income Tax department. Rahul Gandhi has rightly said, and I ...Read More >
New Delhi [India], July 18 (ANI): Union Minister of Parliamentary Affairs Kiren Rijiju will hold a meeting with the floor leaders of political parties in both the Houses of Parliament, ahead of the Monsoon Session of Parliament scheduled to begin on Monday. The meeting will be held in Main Committee Room, Parliament House Annexe. Also Read | PM Narendra Modi Launches Infrastructure Projects Worth INR 7,200 Crore, Says Bihar's Growth Vital for Viksit Bharat (Watch Videos). The meeting will be ...Read More >
'India should look to add an extra bowler' IMAGE: Ajinkya Rahane has a piece of advice for head coach Gautam Gambhir and captain Shubman Gill- play an extra bowler in the fourth Test at Old Trafford. Photograph: BCCI/X As India gear up for the fourth Test at Old Trafford, former captain Ajinkya Rahane has raised a tactical alarm: the team's all-rounder-heavy approach might be hurting their chances. His solution? A fourth specialist bowler -- even if it comes at the cost of batting depth. Now ...Read More >
New Delhi: Amidst rising inflation, the ultimate goal of people is to earn money. People make various efforts to earn money. People consider it appropriate to earn money by investing in banks as well as post offices, for which they try their best. A few days ago, the bank shocked people by reducing the interest rates on FDs. People have now started moving towards the time deposit scheme of the post office by avoiding banks. There are some specialities of the time deposit scheme of the OST offic ...Read More >
Bengaluru: After Delhi, nearly 40 schools in Bengaluru received bomb threats via e-mail on Friday morning, leading to panic among students, teachers and parents. Police teams have rushed to all locations and search operations are underway. Schools in R R Nagar and Kengeri were among those targeted, the police said. Cyber experts are making all efforts to trace the sender of the mail. Sources revealed that the sender could be suffering from mental health issues. In the mail, he has spoken about ...Read More >
Raipur (Chhattisgarh) [India], July 18 (ANI): Former Chhattisgarh Chief Minister and senior Congress leader Bhupesh Baghel on Friday took a dig at Prime Minister Narendra Modi and Union Home Minister Amit Shah, thanking them for the Enforcement Directorate raids at his residence and those of his aides, calling the actions gifts. In a post on X, the Congress leader said, The kind of birthday gift that Modi and Shah ji give, no one else in any democracy in the world can give. On my birthday, both ...Read More >
Berlin/New Delhi: Germany has introduced a visa that allows people from outside the European Union (EU), including Indians, to live and work in the country as freelancers for up to one year. Known as the Freelance Visa or Freiberufler visa, it is designed for self-employed professionals such as writers, designers, consultants and artists. The visa can later be extended for up to three years if the individual continues to meet the necessary requirements. It offers a chance to explore Germany's cu ...Read More >
New Delhi [India], July 17 (ANI): Prime Minister Narendra Modi will visit Motihari in Bihar Tomorrow on July 18 where he will inaugurate and lay the foundation stone of multiple development projects worth Rs 7,200 crore. In a post on X, PM Modi said, 'Will be in Motihari, Bihar, tomorrow, 18th July. Development works worth Rs. 7200 crore will be dedicated to the nation or their foundation stones would be laid. These works cover Software Technology Parks, four new Amrit Bharat trains, road proje ...Read More >
Ahmedabad: The financial data received from third-party sources, ground-level intelligence, and advanced artificial intelligence tools helped the income tax (I-T) department sleuths to unearth a nationwide scam of bogus claims of deductions and exemptions.Investigations uncovered organised rackets operated by certain ITR preparers and intermediaries, who filed returns claiming fictitious deductions and exemptions. These fraudulent filings involved the abuse of beneficial provisions, with some ev ...Read More >
Lucknow, Jul 17 (PTI) To curb illegal mining and transportation, the Uttar Pradesh government is deploying advanced technologies under the Integrated Mining Surveillance System (IMSS), a release said on Thursday. Mining activities are already being monitored through drones, geo-fencing, RFID tags, and AI-powered check gates. Now, the state is set to introduce 'Weigh-In-Motion' (WIM) technology to accurately track vehicle overloading. Also Read | 'Arvind Kejriwal Used Government Funds to Buy Mo ...Read More >
New Delhi: The Income Tax Bill 2025, set to be moved in the monsoon session of Parliament to simplify the direct tax law, will set the stage for another round of reforms which will be more substantive in nature in subsequent years, said two people informed about the discussions in the government The finance ministry is of the view that once the over-six-decade-old Income Tax Act, 1961 is simplified and made more readable, targeted reforms can be achieved in taxation of personal and corporate in ...Read More >
New Delhi, July 17 (SocialNews.XYZ) Seven bills have been listed for consideration and passing ahead of the Parliament monsoon session scheduled from July 21, while eight other bills have also been listed for introduction, consideration and passing. Bills listed for introduction, consideration and passing belong to finance, commerce, education, sports, mining and culture. These bills include the Manipur Goods and Services Tax (Amendment) Bill, 2025, the Taxation Laws (Amendment) Bill, 2025, and ...Read More >
New Delhi [India], July 16 (ANI): The centre is expected to take up several legislations for introduction and passing in the monsoon session of Parliament starting from July 21, including the Manipur Goods and Services Tax (Amendment) Bill of 2025 and the Taxation Laws (Amendment) Bill of 2025. According to Lok Sabha Secretariat, the government will also take up the Jan Vishwas (Amendment of Provisions) Bill 2025, the Indian Institutes of Management (Amendment) bill 2025, the Geoheritage Sites ...Read More >
Srinagar, July 15: The Central Board of Direct Taxes (CBDT) has announced an extension of the Income Tax Return (ITR) filing deadline to ensure a smoother and more convenient experience for taxpayers. According to Section 234A of the Income Tax Act, individuals who file their ITR and pay any outstanding self-assessment tax by the new deadline will not be liable to pay interest. This extension applies to a wide range of taxpayers, including both salaried individuals and the self-employed. It's i ...Read More >
India stands at a critical economic juncture. The combination of sound domestic macroeconomics and rising external frictions presents both a test and an opportunity. As India demonstrates strengthening macroeconomic foundations, escalating trade tensions with the United States marked by sharply higher tariffs and legislative threats create a defining moment for New Delhi's economic policy and diplomacy. Balancing internal stability with external pressure, India must now engage the shifting land ...Read More >
New Delhi: If you miss the original last date for filing your Income Tax Return (ITR), you face several financial consequences and restrictions. Filing a belated return -- after the due date but before December 31, 2025 -- is permitted, but it comes with penalties and other drawbacks. Penalties for Late Filing: The late filing fee under Section 234F is Rs 5,000 if your total income exceeds Rs 5 lakh. If your taxable income is below Rs 5 lakh, the penalty drops to Rs 1,000. If your income is un ...Read More >
Nagpur: The income tax (I-T) department has detected as many as 9,000 returns that were filed to claim fake exemptions from tax liabilities and refunds in Nagpur zone alone. The estimates so far indicate that exemptions to the tune of Rs100 crore were claimed. A large number of such returns were filed by policemen, railway employees, zilla parishad staffers, even as the list includes some private employees too.A sizeable number of filers claimed exemptions by misrepresenting their status as fore ...Read More >
The Income-Tax Department has found organised rackets operated by some returns preparers and intermediaries across the country, filing income-tax returns (ITRs) on behalf of their clients -- including employees of multinational companies, public sector firms, government bodies, academic institutions, and entrepreneurs -- to fraudulently claim exemptions and refunds, the Finance Ministry said. The department is now poised to take stern action against continued fraudulent claims, including penalt ...Read More >
* Tax, Legal & Accounting * 1 min read I-T dept conducts raids in bogus tax deductions case The Income-Tax Department initiated multi-city raids targeting entities facilitating bogus deductions in tax returns. The investigation focuses on false claims related to political donations, medical insurance, tuition fees, and certain loans. This action follows the discovery that some taxpayers didn't correct their ITRs despite the department's outreach under the NUDGE campaign. New Delhi, The Income ...Read More >
Mumbai: The income tax (IT) department conducted raids at over 150 locations across the country against false tax deduction disguised as political donations as well as educational and medical expenses. The investigation has revealed that employees of government bodies, public sector undertaking (PUS), multinational companies, academic institutions and entrepreneurs were a part of these organised rackets. On Monday, the IT department initiated a large-scale verification operation across multiple ...Read More >
New Delhi: The main source of income of any country is tax. If we talk only about India, here income tax is levied according to the income of the people. That is, people who earn less have to pay less tax. The highest rate of income tax in the country is 39 percent. In many countries of the world, the tax rate is less than India while in many countries it is higher. There are some countries in the world where tax is not levied. In such a situation, the question arises that how will the economy o ...Read More >
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