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Indian taxpayers file their income tax returns at a special income tax filing facility at Pragati Maidan in New Delhi, 29 July 2007. There is a last minute rush to file income tax returns with a deadline of 31 July. India has a population of some 1.1 billion, of these only some 30 million are taxpayers. AFP PHOTO/ Manpreet Romana

CBDT orders processing of late tax returns, refunds

2 min read . 26 Jun 2025

The Income Tax Department issued ₹86,385 crore of corporate and personal income tax refunds in the period, a 58% jump from the year-ago period.

Jump in refunds depresses Centre’s net direct tax revenue

2 min read . 21 Jun 2025

In its latest guidelines, the Central Board of Direct Taxes (CBDT) has allowed its senior field officers until 30 June to issue notices to charitable trusts, religious trusts, research institutions and individuals.

Charitable and religious trusts, research institutions under I-T lens

3 min read . 15 Jun 2025

Ravi Agarwal, chairman, CBDT

CBDT probes crypto-related tax evasion

2 min read . 14 Jun 2025

Following approval from the Central Board of Direct Taxes on 11 March 2025, PFC decided to launch its 10-year zero-coupon bonds.

PFC's repeated withdrawals could hit fresh zero-coupon debt issuances

5 min read . 12 Jun 2025

HUDCO approved the ₹5,000 crore fundraiser move via Zero Coupon Bonds on Monday, April 21.

HUDCO share price jumps after CBDT's approval for ₹5,000 crore fundraise

2 min read . 21 Apr 2025

The number of taxpayers disclosing foreign assets and income on a voluntary basis has steadily grown from 60,000 in the 2021-22 assessment year to 231,452 taxpayers in the 2024-25 assessment year.

CBDT’s nudge leads to disclosure of over ₹29,000 crore of foreign assets

2 min read . 07 Mar 2025

The penalty in such case is a sum equal to the amount of tax that was not deducted or paid to the government, according to CBDT

CBDT reminds employers of TDS obligations, highlights penalty for failure

2 min read . 21 Feb 2025

Even with the current ₹7 lakh rebate threshold, tax experts are confused about whether capital gains are clubbed under total income when determining eligibility for a rebate. Photo: Sanjeev Verma/Hindustan Times

Mint Explainer: Can capital gains make you ineligible for a tax rebate?

4 min read . 20 Feb 2025

The new rules will set the template for tax officials to objectively compute the extent of profits that can be attributed to offshore companies which have a taxable presence in India.

Clarity at last: Rules on taxing MNC profits soon

4 min read . 11 Feb 2025

So far, the tax department has collected 55% of its ₹22 trillion direct-tax collection target for the full financial year.

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov

2 min read . 12 Nov 2024

The new scheme targets small taxpayers.

There’s now a faster way to resolve tax disputes. But it has a huge red flag.

4 min read . 05 Sep 2024

The CBDT has clarified that the income tax clearance certificate (ITCC) is not mandatory for all citizens travelling abroad. (Pexels)

Need Income Tax Clearance Certificate for travel abroad? No, says CBDT. Details

2 min read . 21 Aug 2024

Central Board of Direct Taxes (CBDT) released a circular clarifying the definition of substantial contribution

Made contribution to a trust? This is what needs to be revealed, I-T department directs

1 min read . 10 Oct 2023

There are a large number of cases where foreign assets have been acquired out of disclosed incomes. (iStockphoto)

Review penalty for non-disclosure of foreign assets

4 min read . 09 Oct 2023

GIFT City-IFSC is being promoted as a tax-neutral enclave for the financial sector. (AFP)

Govt exempts ETFs from capital gains at GIFT

1 min read . 13 Sep 2023

Income Tax Department asks taxpayers waiting for income tax refunds to validate their bank accounts. (Pixabay)

Anticipating your income tax refund? CBDT urges taxpayers to verify bank account validity

1 min read . 07 Sep 2023

CBDT launches a redesigned website of the Income Tax Department.

CBDT launches a revamped website of the Income Tax Department. Details here

6 min read . 28 Aug 2023

Direct tax collection grows 17% to ₹5.84 tn

1 min read . 11 Aug 2023

(MintBy submitting the declaration, they can inform the income tax department of their choice. However, as per the change in rules, for FY24 income, (next year’s tax filing) the new tax regime is the default regime.)

Taxman sets rules to switch between old, new regimes

2 min read . 22 Jun 2023