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NUDGE Campaign: The Government of India has launched a data-driven “NUDGE” campaign for the Assessment Year 2025-26 to encourage taxpayers to voluntarily review their deduction and exemption claims. This initiative uses risk analytics to identify claims that appear potentially ineligible. According to a release from the Central Board of Direct Taxes, the campaign enables taxpayers…
New Delhi: The Income Tax Department is gearing up to send SMS and email alerts to nearly 25,000 individuals who may have not reported their foreign assets in their Income Tax Returns for the Assessment Year 2025–26. These taxpayers have been flagged as high-risk cases based on information received from other countries through international data-sharing…
New Delhi: The Central Board of Direct Taxes (CBDT) on Thursday said it is launching the second ‘NUDGE’ campaign, under which SMSs and emails will be sent to high-risk taxpayers, advising them to review and revise their income-tax returns on or before December 31, 2025 to avoid penal consequences. Analysis of the Automatic Exchange of…
The delay in income tax refunds has become a major concern for millions of taxpayers, even as many others have already received their dues. Addressing these concerns, CBDT (Central Board of Direct Taxes) Chairman Ravi Agarwal has clarified that the department is currently investigating “high-value” and “red-flagged” refund claims due to suspected incorrect deductions. He…
The Centre is preparing to introduce a new set of income-tax return (ITR) forms under the overhauled Income Tax Act, 2025. The Central Board of Direct Taxes aims to notify these forms by January 2026 so they can come into force from April 1. The shift marks a major break from the 1961 tax law…
New Delhi: The Central Board of Direct Taxes (CBDT) has once again clarified that taxpayers cannot claim tax rebate under Section 87A of the Income Tax Act on income that is taxed at special rates, such as short-term capital gains (STCG). In the financial year 2023-24, many taxpayers claimed a rebate on short-term capital gains,…
New Delhi: In a move aimed at reducing confusion and easing compliance, capital markets regulator SEBI on Friday simplified the process of transferring securities from nominees to legal heirs. In a circular issued, the regulator said that from January 1, 2026, all reporting entities, including depositories, listed companies, RTAs and depository participants, will be required…
The Institute of Chartered Accountants of India (ICAI) is preparing to approach the Central Board of Direct Taxes (CBDT) with a request to extend the deadline for corporate tax audit filings, according to sources. The representation expected to be sent soon, comes amid growing concerns that companies are struggling to complete audits within the prescribed…
The Income Tax Department has confirmed that today, 15 September 2025, is the last date to file income tax returns (ITRs) for Assessment Year 2025-26. According to the department’s official post on X (formerly Twitter), more than seven crore ITRs have already been filed, with the figure still rising. “More than 7 crore ITRs have…
New Delhi: Central Board of Direct Taxes (CBDT) has announced Relaxation of time limit for processing ofreturns of income filed electronically which were incorrectly invalidated by CPC. CBDT has said that CPC Bengaluru has received grievances regarding erroneous invalidation, due to various technical reasons, while processing the returns filed electronically for different assessment years. The…