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The ITRs that were filed till&nbsp;March 31, 2024, marked invalid, will now be processed and validated under Section 143(1) by March 31, 2026. This relief is only for the ITR filed for Assessment Years up to 2023–24.

Has your ITR been declared invalid? Don't worry, I-T Department extends deadline for wrongly invalidated ITR filed till March 31, 2024

If a taxpayer doesn't file the ITR (Income Tax Return) before the deadline, they may need to pay a fine of Rs 5,000 (if income exceeds Rs 5 lakh) and Rs 1,000 for lower incomes under Section 234F.

ITR Filing Last Date 2025: Things that salaried taxpayers should know besides the last date

The CBDT is the apex policy-making body for the Income Tax Department and is headed by a chairman, with up to six members of special secretary rank

Centre extends CBDT Chairman Ravi Agrawal’s tenure till June 2026

During the financial year ended March 31, 2025, the central government collected Rs 27.03 lakh crore in gross direct taxes, marking a year-on-year increase of 15.6 per cent. Read on to learn about the Centre's direct tax collections in FY25.&nbsp;

At Rs 27 lakh crore, gross direct tax collections up nearly 16% in FY25—Catch key highlights from official data

Income tax department offices across the country will remain open on March 29 to March 31 to facilitate taxpayers in completing pending tax-related business for the fiscal year.

I-T department offices to remain open on March 29-31: CBDT

Central Board of Direct Taxes (CBDT) Chief Ravi Agrawal said that the new bill has been drafted in such a way that it meets international standards.

&nbsp;

Give suggestions on new income tax bill: CBDT Chief Ravi Agrawal to industry 

This year-on-year surge showcases not only the capacity of the system but also the proactive engagement of taxpayers in adhering to filing deadlines.

Income tax refunds jump 46.3% to Rs 3.04 lakh crore in April-November

India's net direct tax collections, comprising corporate tax and personal income tax, shot up by a robust 15.4 per cent to Rs 12.1 lakh crore, from April 1 to November 10 during the current financial year, according to the latest figures released by the CBDT.

Direct tax collections poised to surpass budget target for 2024-25

The Income Tax Department appreciated taxpayers and tax professionals for on-time compliance, resulting in a record number of filing of Income Tax Returns (ITRs) till October 31, 2023, said a press release by CBDT.

Record number of over 7.85 crore Income Tax Returns filed till October 31 this year

&nbsp;Employees enjoying rent-free accommodation would see rationalisation of perquisite value leading to a reduction in taxable salary, increasing the net take-home pay.

CBDT notifies rules for valuing rent-free accommodation perquisite provided by employers

Suggestions/Comments have been invited from stakeholders &amp; general public on the draft rules, which can be sent to ustpl2@nic.In, latest by June 5, 2023, the Central Board of Direct Taxes (CBDT) tweeted.

IT department invites comments on draft rules for valuing startup investment by non-residents

Net direct tax mop up rises 23% to Rs 7.04 lakh crore so far this fiscal

The abbreviation ITR-U stands for 'income tax return-updated' and is available to taxpayers for filing updated returns for 2019-20 and 2020-21 financial years or assessment years 2020-21 and 2021-22.

Income Tax News: I-T Department collects Rs 28-cr in taxes from new ITR-U filing

According to the latest directions, a show cause notice will be mandatorily issued by the assessing officer (AO) to a taxpayer in whose case "any variation prejudicial to the interest of the assessee is proposed" or to say where an action against the assessee is proposed

Income Tax: How CBDT is streamlining the faceless assessment system for taxpayers - DETAILS

The income tax department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified

CBDT notifies TDS disclosure requirements for cryptos, virtual digital assets

The finance ministry has notified new income tax return forms which, among other things, will seek additional information with regard to overseas retirement benefits and interest accrual on provident fund deposits exceeding Rs 2.5 lakh a year.

Income Tax: ITR forms for 2021-22 notified; seek details of overseas retirement benefits, PF interest accrual

I-T refunds worth Rs 70,120 cr issued till Sep 6

The Income Tax India tweeted: “CBDT issues refunds of over Rs 43,991 crore to more than 21.03 lakh taxpayers between 1st April 2021 to 26th July 2021.”&nbsp;

Income Tax Refund ALERT! Important message from CBDT for taxpayers - Check here

"The Central Board of Direct Taxes in exercise of powers conferred under section 138(1)(a) of Income Tax Act, 1961, has issued Order in F.No. 225/136/2020/ITA.II dated 31.08.2020, for furnishing information about IT Return Filing Status to Scheduled Commercial Banks, notified vide notification No. 71/2020 dated 31.08.2020 under sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Act," it said.

Banks get 'ITR filing compliance check' tool to track non-filers

Zee Business got to know from sources that the Central Board of Direct Taxes has given directions to increase recovery by focusing on central PSUs.

Sources: CBDT directive, recovery increased by focusing on central PSUs

central-board-of-direct-taxes

The ITRs that were filed till March 31, 2024, marked invalid, will now be processed and validated under Section 143(1) by March 31, 2026. This relief is only for the ITR filed for Assessment Years up to 2023–24.

If a taxpayer doesn't file the ITR (Income Tax Return) before the deadline, they may need to pay a fine of Rs 5,000 (if income exceeds Rs 5 lakh) and Rs 1,000 for lower incomes under Section 234F.

The CBDT is the apex policy-making body for the Income Tax Department and is headed by a chairman, with up to six members of special secretary rank

During the financial year ended March 31, 2025, the central government collected Rs 27.03 lakh crore in gross direct taxes, marking a year-on-year increase of 15.6 per cent. Read on to learn about the Centre's direct tax collections in FY25. 

Income tax department offices across the country will remain open on March 29 to March 31 to facilitate taxpayers in completing pending tax-related business for the fiscal year.

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Central Board of Direct Taxes News- Zee Business provides latest news on Central Board of Direct Taxes, Central Board of Direct Taxes news Today, Top News on Central Board of Direct Taxes, update on Central Board of Direct Taxes Stay updated with business news, breaking news headlines.

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Central Board Of Direct Taxes

Has your ITR been declared invalid? Don't worry, I-T Department extends deadline for wrongly invalidated ITR filed till March 31, 2024

ITR Filing Last Date 2025: Things that salaried taxpayers should know besides the last date

Centre extends CBDT Chairman Ravi Agrawal’s tenure till June 2026

At Rs 27 lakh crore, gross direct tax collections up nearly 16% in FY25—Catch key highlights from official data

I-T department offices to remain open on March 29-31: CBDT

Give suggestions on new income tax bill: CBDT Chief Ravi Agrawal to industry

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