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The Income Tax Department has processed around 60% of the more than 3.2 crore Income Tax Returns filed so far this season, reflecting faster processing under the first filing cycle of the new Income Tax Act, 2025. The government also highlighted improvements in refund processing, taxpayer services and digital infrastructure.
Illegal online betting platforms allegedly channelled nearly ₹70,000 crore through about 750 shell companies across the country, leading to an estimated GST evasion of ₹19,600 crore, according to an ongoing probe by the DGGI.
A Mumbai woman has secured relief from the ITAT after it deleted an addition of ₹80.10 lakh made under Section 69 of the Income-tax Act, holding that the tax department cannot treat an investment as unexplained solely because one remittance document was unavailable
Taxpayers with foreign assets are waiting for rules to catch up with a promise made in the Union Budget. A proposed six-month amnesty window remains unavailable even as the income tax department steps up scrutiny of overseas holdings.
Citing severe monsoon disruptions, the GCCI has written to the CBDT requesting at least a 15-day extension for filing non-audit income tax returns (ITR-1 and ITR-2) for assessment year 2026-27 beyond the July 31 deadline.
The anti-evasion wing of the CGST Commissionerate, Gurugram, on Saturday said it has unearthed a ₹200-crore input tax credit fraud and arrested four people, including two co-founders of a Gurugram-based auto service startup and two chartered accountants.
The Department of Income Tax, which is known to be enforcement centric, is tax-payer friendly and technology-driven, said Chief Commissioner of Income Tax V.S. Sreelekha here on Friday on July 24, 2026.
DRI has intensified its crackdown on gold smuggling syndicates, resulting in the seizure of over 27 kilograms of foreign-origin smuggled gold and the arrest of 12 persons.
Taxation is not a new concept to India. Historical records from ancient India, including Kautilya’s Arthashastra, reveal sophisticated systems of taxation that recognised the central role of public revenue in governance.
FM asked CBDT to further explore ways to pace up their scale and review the strategy for disposing of pending tax appeals, warning that it could take “a century” to clear the backlog of pending 5.4 lakh appeals.