New Delhi, July 27 (IANS) More than 4 crore income tax returns (ITRs) have been filed for the assessment year (AY) 2026-27 so far, the Income Tax Department said on Monday.In a post on X, the department said over 4 crore ITRs have already been filed and advised eligible taxpayers to avoid the last-minute rush by filing their Income Tax Return (ITR)-1 and ITR-2 at the earliest.The latest milestone comes less than a week after the department had announced that ITR filings had crossed the 3 crore m…
Latest Central Board of Direct Taxes News & Updates
New Delhi, July 16 (IANS) In a significant step towards enhancing taxpayer services and promoting voluntary tax compliance, the Central Board of Direct Taxes (CBDT) has enabled display of information relating to foreign assets and income, received under the Automatic Exchange of Information (AEOI) framework, in the Annual Information Statement (AIS) of eligible taxpayers on the Income Tax e-Filing portal. This taxpayer-centric initiative has been undertaken to facilitate, and not to investigate,…
New Delhi, July 16 (IANS) The Central Board of Direct Taxes (CBDT) has increased the Cost Inflation Index (CII) for the financial year 2026-27 by 2.3 per cent to 384 from the corresponding figure of 376 in the previous financial year.The CBDT notification was issued on July 15, 2026, and will apply from April 1, 2026, onwards for tax calculations.The Cost Inflation Index, or CII, provides for adjusting the purchase price of assets for inflation when calculating long-term capital gains tax after …
New Delhi, July 14 (IANS) The government has extended the tenure of Statistics and Programme Implementation Secretary Saurabh Garg by another year and the term of the Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal by six months and promoted two IPS officers as Joint Directors in the CBI in a string of decisions covering various posts at the Centre.Garg, a 1991-batch Indian Administrative Service (retired) officer of the Odisha cadre, will continue to serve on a contract basis till Ju…
Mumbai, July 8 (IANS) The Securities and Exchange Board of India (SEBI) has notified amendments to the Foreign Portfolio Investors (FPI) Regulations, replacing the US dollar-denominated fee structure with a rupee-denominated payment mechanism for foreign investors and foreign venture capital investors (FVCIs).The changes will come into effect after six months, giving foreign investors and intermediaries adequate time to transition to the new system.According to a notification issued by SEBI, the…
Agartala, June 6 (IANS) Union Home Minister Amit Shah has directed the authorities to organise awareness and training camps for people living along the India-Bangladesh border to help them tackle the growing threats posed by narcotics trafficking and illegal arms, officials said on Saturday. The Union Home Minister emphasised the need for greater public participation in strengthening border security and preventing cross-border criminal activities, particularly drug smuggling and the movement of …
Bikaner, May 27 (IANS) Union Home and Cooperation Minister Amit Shah chaired a high-level security review meeting in Rajasthan’s Bikaner to assess and strengthen security arrangements along the India-Pakistan International Border, officials said on Wednesday. The meeting held on Tuesday was attended by Rajasthan Chief Minister Bhajan Lal Sharma, senior state government officials, and the District Magistrates and Superintendents of Police from Bikaner, Jaisalmer, Barmer, Sri Ganganagar, and Phalo…
New Delhi, May 4 (IANS) India’s net direct tax collections recorded steady growth in the financial year 2025–26, rising 5.12 per cent year-on-year to Rs 23,40,406 crore, according to data released by the Central Board of Direct Taxes (CBDT) on Monday.Gross direct tax collections for the fiscal stood at Rs 28,11,936 crore, registering a 4.03 per cent increase compared to Rs 27,03,107 crore in FY25.The rise was supported by higher inflows from both corporate and non-corporate tax segments, ref…
Chennai, April 21 (IANS) Tamil Nadu Congress Committee president K. Selvaperunthagai on Tuesday faced a sharp rebuttal from the Income Tax Department, which termed his allegations of harassment by officials as “entirely baseless and factually incorrect.” In a detailed press release, the Central Board of Direct Taxes (CBDT) said it had examined claims made by Selvaperunthagai in a social media post dated April 20, in which he alleged that Income Tax officials, under the pretext of searchi…
New Delhi, April 1 (IANS) India’s direct tax system entered a new phase on April 1, 2026, as the Income Tax Act, 2025 officially came into force. The Income Tax Department announced the rollout through a message on X, calling it a step towards a simpler and more user-friendly tax framework aligned with the vision of Viksit Bharat.The new law replaces the decades-old Income Tax Act, 1961, marking one of the biggest overhauls in India’s direct taxation system.The government has focused on maki…