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 Income Tax Department News & Updates
Mumbai, July 26 (IANS) Union Finance Minister Nirmala Sitharaman on Sunday urged Income Tax Department officials to ensure that citizens do not have to run from pillar to post for services, stressing the need for greater efficiency, integrity and citizen-centric governance while expressing concern over the laidback functioning of government departments.Speaking after inaugurating the 13-storey Aaykar Sindhu building here, FM Sitharaman said the experience of the Income Tax Department in obtainin…
New Delhi, July 24 (IANS) Union Finance Minister Nirmala Sitharaman on Friday told officials of the Income Tax Department to ensure convenience for honest taxpayers while taking stern action against tax evasion, as certainty in the tax regime is an economic imperative. Addressing the 167th Income Tax Day celebrations here, the Finance Minister urged officials to differentiate between deliberate tax evasion and bonafide errors while dealing with taxpayers.”Tax certainty is one of the strongest fo…
New Delhi, July 24 (IANS) More than 7.3 crore income tax returns (ITRs) were filed for Assessment Year 2026, surpassing the number filed in the previous year, Revenue Secretary Arvind Shrivastava said on Friday.Speaking about the ongoing reforms in the direct tax system, Shrivastava said the Income Tax Department should increasingly be viewed as a facilitator for honest taxpayers rather than merely an enforcement agency.He stressed that the use of technology must make tax administration smarter,…
Bhopal, July 23 (IANS) The Directorate of Enforcement (ED), Bhopal Zonal Office, has seized an immovable property worth Rs 3.67 crore in Jabalpur under the relevant provisions of the Foreign Exchange Management Act (FEMA), 1999, an official statement said on Thursday. The property, belonging to Priyank Mehta, was confiscated following findings of contravention of FEMA provisions.The action stemmed from specific inputs provided by the Income Tax Department and subsequent investigation by the ED.O…
Jaipur, July 17 (IANS) The Income Tax Department has intensified its crackdown on suspected benami transactions, illegal funding, and unaccounted money in Rajasthan’s border districts, seizing land registration records worth more than Rs 150 crore from sub-registrar offices in Jaisalmer and Sri Ganganagar.The operation was carried out by the Department’s Intelligence and Criminal Investigation (I&CI) Wing following directions to strengthen scrutiny of suspicious land transactions in border a…
New Delhi, July 14 (IANS) India’s net direct tax collections recorded a robust 16.4 per cent year-on-year growth to Rs 6.51 lakh crore as of July 13 in the current financial year, driven by higher corporate tax, non-corporate tax, and securities transaction tax (STT) collections, according to figures released by the Income Tax Department on Tuesday.Net corporate tax collection grew over 22 per cent to around Rs 2.40 lakh crore, while net non-corporate tax collection recorded an increase of aroun…
New Delhi, July 11 (IANS) More than 1.7 crore income tax returns (ITRs) have been filed so far for the assessment year (AY) 2026-27, the Income Tax Department said on Saturday.”Over 1.7 crore taxpayers have already taken the smart step and filed their ITRs for A.Y. 2026-27,” the department said in a post on X.According to the department, more than 10 lakh returns were filed on Friday alone.Moreover, the Income Tax Department has urged eligible taxpayers who are yet to file their returns to compl…
Kolkata, July 8 (IANS) Hours after the Enforcement Directorate (ED) on Wednesday issued a statement alleging dubious transactions through three bank accounts of the Trinamool Congress, on which debit restrictions have already been imposed, the former ruling party in West Bengal issued a statement rejecting the allegations made by the central agency.The Trinamool Congress also described the ED’s action relating to the freezing of its three bank accounts, with total deposits of Rs 440 crore, as po…
Patna, July 3 (IANS) A high-level review meeting on security, administrative, and developmental issues related to the India-Nepal border was held on Friday at Samvad Hall, located in the Chief Minister’s Secretariat, under the chairmanship of Chief Minister Samrat Chaudhary. District Magistrates and Superintendents of Police from Bihar’s seven border districts participated in the meeting through video conferencing. During the meeting, Chief Secretary Pratyaya Amrit delivered a detailed presentat…