Income Tax in Media


No refund if ITR filed post due date in new income tax bill? I-T dept issues this clarification

Will you be eligible for a refund even if you file your ITR (income tax return) late? This concern was raised by many people due to the introduction of new …

Top 5 highlights of newly-introduced Income Tax Bill 2025 impacting taxpayers

Finance Minister Nirmala Sitharaman tabled the Income Tax Bill 2025 in the Lok Sabha on February 13, 2025. The new bill would replace the current Income Tax Act of 1961 …

Income Tax Bill powers taxmen to override computers, virtual digital space access codes in search, seizure

The Income Tax Bill, 2025 gives tax officers powers to override the access code of computer systems and virtual digital space, including online trading and investment accounts as well as …

Select Committee to examine the Income-Tax Bill, 2025

Baijayant Panda MP, Lok Sabha appointed as the Chairperson of the Select Committee of Lok Sabha to examine the Income-Tax Bill, 2025 …

Good news, if your CTC is more than 14 lakhs, then also no income tax will be levied

While the government is working on a new income tax law, they’ve also made some changes in Budget 2025, making income up to Rs 12 lakh tax-free under the new …

1.2 million ITR filers for FY 2023-24 have not got refund: How to fix issue

The Ministry of Finance has provided an update on the settlement of Income Tax Returns (ITRs) filed for the Assessment Year (AY) 2024-25, highlighting significant progress in refund disbursement while acknowledging pending …

Tax yr, crypto, salary deductions: What you should know about New Tax Bill

The new Income Tax Bill, set to come into force on April 1, 2026, introduces a significant overhaul to India’s taxation framework, aiming for simplicity and clarity. The old Income …

I-T dept launches calculator for information about new tax regime

The Income Tax Department has introduced a tool to compare taxes under the new regime for financial years 2024-25 (FY25) and 2025-26 (FY26). The tool assists individuals assess which income …

When is new Income Tax Bill likely to come into effect?

Finance Minister Nirmala Sitharaman will likely table the draft of the new income tax bill in the Parliament tomorrow i.e., on February 13, 2025. Many taxpayers want to know the …

New Income Tax Bill 2025: What is ‘tax year’ and how is it different from ‘assessment year?

The Centre plans to table the new Income Tax Bill 2025 in the Parliament on February 13. The new bill, a copy of which has been published by the government, …