The Income Tax Department has updated the PAN registration process on its official portal, making Aadhaar-based OTP verification mandatory for all individuals registering their Permanent Account Number (PAN) online. As per the new process, users must ensure their Aadhaar is linked with a valid mobile number to receive the One-Time Password (OTP) …
Finance Minister Nirmala Sitharaman, in a significant push towards improving taxpayer experience and bolstering revenue administration, is scheduled to hold a series of high-level review meetings with top officials from the CBIC, CBDT and Customs Departments between June 19 and June 30. According to sources, the …
The Department of Trade and Taxes, Government of Delhi, has unearthed a Rs 14 crore Goods and Services Tax (GST) refund fraud. Authorities have arrested a key suspect – the proprietor of one of the fictitious firms – and have so far recovered Rs 1.16 crore. …
The Income Tax Department, in a bid to curb misuse of tax deductions on political donations, has intensified scrutiny of claims made under Section 80GGC of the Income Tax Act. According to sources, the department has flagged numerous suspicious deductions over the past two to three …
The Income Tax Department, in a significant move to curb tax evasion, has intensified its scrutiny of High Net Worth Individuals (HNIs) suspected of underreporting their income. According to sources, the department is analysing spending patterns, high-value transactions and expense data to identify discrepancies between declared …
In a major push to expedite tax dispute resolution and unlock substantial revenue, the Income Tax Department has set a bold target of disposing over 200,000 appeals in FY26. These cases, currently pending at the Commissioner of Income Tax (Appeals) level, involve a cumulative disputed amount …
In a major crackdown on electoral tax abuse, the Income Tax Department has recovered Rs 1,400 crore from over 63,000 individuals who evaded taxes by falsely claiming deductions for donations made to registered unrecognised political parties (RUPPs) during the financial years 2022-23 and 2023-24. According to official sources, more than Rs …
India’s direct tax collections for the financial year 2024-25 have recorded a significant upswing, with net collections reaching Rs 22.26 lakh crore as of March 31, 2025, according to provisional data released by the Central Board of Direct Taxes (CBDT). This marks a 13.57% growth over the previous fiscal’s net …
The Income Tax Department has issued a wave of notices to salaried taxpayers since the beginning of the financial year, flagging “unrealistic” exemption claims made in their income tax returns (ITRs), according to official sources. The crackdown, part of a focused verification drive, targets claims that …
In a significant clarification aimed at fostering ease of doing business, the Income Tax Department on Friday reiterated that DPIIT-recognised startups are eligible for multiple tax exemptions, and investments made in such companies are not subject to scrutiny, provided certain conditions are fulfilled. Responding to a tweet on …
