Recap of Latest updates posted on 27.07.2026
GSTN is taking downtime to enhance its services on the GST Portal on 28.07.2026 from 12:00 AM onwards until 6:30 am of 28.07.2026.
DRI seizes over 27 kg smuggled gold; 12 arrested in nationwide crackdown
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.
The last date to file your income tax return (ITR) for FY 2025-26 (AY 2026-27) is July 31, 2026.
The last date to file your income tax return (ITR) for FY 2025-26 (AY 2026-27) is July 31, 2026.
Income Tax dept. tax-payer friendly and technology-driven, says CCIT
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.
Two startup founders, two CAs held in ₹200 crore GST fraud in Gurugram
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.
Gujarat floods: GCCI requests 15-day ITR filing extension
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.
Foreign asset amnesty in limbo, taxpayers in Gujarat seek clarity
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.
Property bought using NRI husband’s funds? ITAT deletes ₹80 lakh tax addition
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
Betting probe widens: ₹70,000cr routed via 750 shell merchants, ₹19,600cr GST evasion suspected
Illegal online betting platforms allegedly channelled nearly ₹70,000 crore through about 750 shell companies across the country
ITR processing picks up pace: 60% of 3.2 crore returns already processed
The Income Tax Department has processed nearly 60% of the more than 3.2 crore Income Tax Returns (ITRs) filed so far in the current assessment year, signalling faster return processing as the first filing season under the new Income Tax Act, 2025 gathers pace.
FM urged income tax officials to make it easy for people to access government services, saying citizens should not have to ‘run from pillar to post’ to get work done that is within the department’s authority.
Book: TRANSFER PRICING (Domestic & International Transactions)
Book: Dividends, Deemed Dividend—Declaration, Distribution and Conceptual Taxation Framework
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