# cbdt
12 posts in `cbdt` tag
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Big news for legal aid! CBDT Notification S.O. 3204(E) grants vital income tax exemptions to District Legal Service Authorities in Haryana (Gurgaon, Mewat & more) from AY 2025-26. Find out which income is exempt and what conditions apply!
Big news for legal aid. The CBDT Notification S.O. 3204(E) gives important income tax exemptions to District Legal Service Authorities in Haryana, including Gurgaon, Mewat, and others, starting from AY 2025-26. Discover which income is exempt and the conditions that apply.
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By Krishna
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CII for FY 2025-26 Notified: What India's New Cost Inflation Index Means for Your Capital Gains
The Central Board of Direct Taxes (CBDT) has announced the Cost Inflation Index (CII) for FY 2025-26 as 376. This blog post explains what CII is, how the new index will be applied from AY 2026-27, who it impacts, and provides an example of how it reduces taxable long-term capital gains, particularly for real estate acquired before July 23, 2024. It highlights the importance of understanding this update for accurate tax filing.
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By Krishna
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CBDT's Latest: Interest Waivers for Past TDS/TCS Delays Are Now Confirmed!
This blog post summarizes CBDT Circular No. 8/2025, which clarifies that interest waivers for delayed TDS/TCS payments due to technical issues can apply to past charges, provided applications meet the one-year deadline
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By Krishna
Income Tax in India: Are You Prepared for July 2025?
This blog post provides a comprehensive overview of the significant income tax changes coming into effect in India from July 1, 2025. It details the more attractive new tax regime with revised slabs and increased deductions, the extended ITR filing deadline, the mandate for Aadhaar in PAN applications, and the real-time PAN-bank linking system. Furthermore, it touches upon the updated ITR forms and the broader proposals of the Income Tax Bill 2025, offering taxpayers crucial insights for compliance and effective tax planning.
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By Krishna
ITR Scrutiny Notice u/s 143(2) for AY 2024-25: Don't Panic! Your Step-by-Step Guide to Responding
The Income Tax Department has begun dispatching scrutiny notices under Section 143(2) for AY 2024-25. This blog provides a detailed guide on understanding these notices, common reasons for their issuance, a step-by-step response strategy, and essential tips to prevent future scrutiny, ensuring taxpayers can navigate the process effectively.
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By Krishna
ITR Processing Update: CBDT's Relief for Delayed Filings (Circular 07/2025)
This summarized blog post explains the latest CBDT circular (dated June 25, 2025) that extends the processing deadline for specific Income Tax Returns (ITRs). It covers who benefits from this relief (ITRs filed electronically on or before March 31, 2024, with condoned delay), the new processing deadline of March 31, 2026, and important exceptions, offering clarity to taxpayers.
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By Krishna
India's Tax Report: Why a Small Drop is Actually Good News
This blog analyzes India's direct tax collections for FY 2025-26 (as of June 19, 2025). While net collections show a slight dip, the detailed breakdown reveals robust gross collection growth and a significant increase in tax refunds, reflecting enhanced taxpayer services. Positive advance tax figures further signal underlying economic strength and optimistic future expectations, painting a picture of resilience rather than slowdown
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By Krishna
CBDT's Compulsory Scrutiny: A Quick Guide for FY 2025-26
This concise guide explains CBDT's compulsory scrutiny guidelines for FY 2025-26. It outlines the specific high-risk scenarios that can lead to a detailed income tax examination, such as search operations, credible information of tax evasion, or large refund claims. The synopsis highlights that selected taxpayers will receive a Section 143(2) notice for complete, often faceless, scrutiny and advises preparedness and seeking professional help.
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By Krishna
Important Announcement for Taxpayers: CBDT Extends Deadline for Processing AY 2023-24 Income Tax Returns
The Central Board of Direct Taxes (CBDT) has issued an order extending the processing deadline for electronically filed Income Tax Returns (ITR) for Assessment Year (AY) 2023-24 to November 30, 2025. This relaxation applies to returns where the intimation under Section 143(1) had previously lapsed. The blog post explains who benefits, important exceptions (like scrutiny cases and assessee-attributable delays), and reiterates the necessity of PAN-Aadhaar linking for refund eligibility. It highlights this as a significant relief for taxpayers.
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By Krishna
Ready to File? ITR-1 & ITR-4 for AY 2025-26 Enabled!
This blog announces the commencement of ITR-1 and ITR-4 filing for AY 2025-26, highlighting both online pre-filled data and Excel utility options. It clarifies who should file each form and details the key due dates (July 31st standard, September 15th for audited cases), encouraging early filing with a call to action for myitronline services.
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By Krishna
Start Your Tax Filing Now: ITR-1 & ITR-4 Excel Utilities for AY 2025-26 Released!
Big news for individual taxpayers and small businesses! The Income Tax Department has released the Excel Utilities for ITR-1 (Sahaj) and ITR-4 (Sugam) for Assessment Year 2025-26. This means you can now begin filing your income tax returns offline. This blog covers who can use these forms, the benefits of early filing, and how MYITRONLINE can provide seamless assistance.
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By Krishna
Breaking News: Income Tax Return (ITR) Filing Deadline for AY 2025-26 Extended to September 15, 2025
The Central Board of Direct Taxes (CBDT) has announced an extension for the filing of Income Tax Returns (ITRs) for Assessment Year (AY) 2025-26. Originally due by July 31, 2025, the deadline has now been extended to September 15, 2025. This decision comes in light of structural and content revisions in the notified ITRs, necessitating additional time for system development and integration, and considering the time required for system readiness. The extension aims to provide taxpayers with a smooth and convenient filing experience, ensuring compliance and accurate reporting
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By Krishna