The number of income-tax return filers has risen 24% from 6.96 crore in 2021-22 to 8.67 crore in 2025-26, according to Minister of State for Finance Pankaj Chaudhary's written reply in the…
Taxpayers with business or professional income exceeding Rs 1 crore in FY 2025-26 must file Schedule AL along with their income tax return (ITR) before the August 31 deadline. The disclosure of…
The August 31, 2026 deadline for filing income tax returns applies to taxpayers with business or professional income using ITR-3, ITR-4, ITR-5, or ITR-7 who are not required to get accounts audited.…
The Income Tax Department has begun a nationwide examination of overseas remittances flagged as suspicious, drawing attention to Form 146, a chartered accountant's certificate required for certain taxable foreign payments under the…
The Income Tax Department has uncovered overseas remittances totalling ₹1.29 lakh crore by 6,422 entities, with action taken against 394 firms, the Times of India reports. Singapore, the UAE, Hong Kong, Mauritius…
CISF personnel at Delhi's Indira Gandhi International Airport intercepted two passengers found carrying unaccounted cash totalling Rs 68.53 lakh on Wednesday. The passengers, who were travelling to Guwahati and scheduled to fly…
India's faceless assessment regime under Section 144B of the Income-tax Act replaces manual officer-led scrutiny with a technology-driven, centralised process handled by the National Faceless Assessment Centre (NaFAC). Taxpayers receive notices electronically,…
Social media creators and freelancers earning business or professional income have until 31 August 2026 to file their income tax returns for AY 2026-27, unless a tax audit is required. Livemint reports…
The Income Tax Department has launched a nationwide verification drive targeting 394 entities and 36 professionals, including chartered accountants, over suspected irregularities in foreign remittances. Of the entities under scrutiny, 117 are…
A fire broke out at Aayakar Bhavan, the Income Tax Department office at Churchgate, Mumbai, on Monday afternoon, sending thick smoke through the six-storey building. Around 1,500 employees were inside when the…
