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Income Tax Department Notifies ITR-1 and ITR-4 Forms for AY 2025-26
New Delhi, April 30 — The Income Tax Department has notified ITR-1 (Sahaj) and ITR-4 (Sugam) forms for the Assessment Year 2025-26. These simplified forms cater to individual taxpayers and Hindu Undivided Families (HUFs) with total income up to Rs...
Several Income Tax Rules to Change from April 1 as New Financial Year Begins
New Delhi, March 30 – With less than 48 hours remaining for the start of the new financial year, several key changes in income tax rules are set to come into effect from April 1, 2025. These changes, announced by...
Income Tax Offices to Remain Open from March 29 to 31 to Facilitate Year-End Filings
New Delhi, March 27 – To assist taxpayers in completing their pending income tax-related tasks for the current financial year, all income tax offices across India will remain open from March 29 to March 31, 2025. This decision comes despite...
New Income Tax Bill Allows Digital and Social Media Account Checks Only During Raids
New Delhi, March 10 – Under the proposed new Income Tax Bill, tax authorities will only be allowed to access digital records and computer devices during raids, according to a top official from the Income Tax Department. The provision aims...
Gujarat witnesses 49% surge in crorepati taxpayers
Ahmedabad, Aug 29 (IANS) Gujarat has witnessed a significant surge of 49 per cent in the number of 'crorepati' taxpayers, individuals declaring an annual income of Rs 1 crore or more, for the assessment year 2022-23, as per the latest... 
I-T Dept revises rules for valuing rent-free accommodation given by employers
New Delhi, Aug 19 (IANS) Employees having high grade salaries and also rent-free accommodation given by their employers, will be able to save more tax and take home a higher salary, as per amendments notified by the Central Board of...
Almost 6 cr I-T returns filed till now, says govt as July 31 deadline nears
New Delhi, July 30 (IANS) Almost six crore income tax returns (ITRs) have been filed till Sunday (July 30), the income tax department said.
July 31, 2023 is the last day for filing income tax returns.
As of now the...
Govt urges taxpayers to file returns as July 31 deadline won't be extended
New Delhi, July 16 (IANS) The government has urged the taxpayers to file their income tax returns before July 31, 2023 to avoid the last minute rush, as there is no possibility of any extension of the deadline.
Finance Ministry... 
AI system used by I-T officials for raids on UP jeweller, realtor
Kanpur, June 27 (IANS) In a first, an artificial intelligence (AI)-backed system was used for income tax (I-T) raids at the premises of top Kanpur jeweller and a big realtor, who have been found involved in super heavy transactions in... 