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Business News/Topic/ Income Tax

INCOME-TAX

Get the latest Income tax news, videos and headlines. Explore more for Income tax breaking news, opinions, special reports and more on mint.

The objective of Vivad se Vishwas is to inter alia reduce pending income tax litigation.

Income Tax: Last 9 days left before Vivad Se Vishwas scheme comes to an end

1 min read . 21 Apr 2025

Section 269ST of the Income Tax Act prohibits cash receipts of ₹2 lakh or more from a single person in a day, either for a single transaction or for transactions related to one event or occasion. (REUTERS)

SC order on cash deals above ₹2 lakh empowers taxman, may deter litigants

3 min read . 17 Apr 2025

Taxpayers must opt for the old tax regime if they have invested a large sum in tax free instruments such as PPF, SSY and NSC, among others.

Confused between old & new tax regimes? Here are key factors to help you decide

2 min read . 15 Apr 2025

Strange and overreaching assessment queries in the 2025 tax notices indicate that assessing authorities could possibly be using generative AI/ChatGPT.

Faceless tax assessments are a game changer. But there is scope for improvement.

3 min read . 14 Apr 2025

Income Tax Filers Surpass 9.19 Crore in FY 2024-25, Refunds Reach ₹4.35 Lakh Crore

Income Tax: More than 9.19 crore ITRs filed till March 31, shows latest data

1 min read . 11 Apr 2025

The last date for Vivad Se Vishwas has been decided to be April 2025

CBDT announces last date to declare tax arrears under Vivad se Vishwas Scheme

2 min read . 10 Apr 2025

An income tax calculator can help you compute your income tax under both the old and new regime.

Income tax calculator: How does it help you compute your payable tax?

1 min read . 09 Apr 2025

There are a total of 12.91 crore individual taxpayers are registered on the income tax portal

Over 3.24 lakh individuals filed ITR for ₹1 crore income till March 31

1 min read . 05 Apr 2025

With income tax collections scaling new highs, the latest data reaffirms the resilience of our tax base.

India’s mop-up of direct taxes signals its economic strength

3 min read . 03 Apr 2025

It was hoped that the extra money would be spent to drive demand and thereby help spin the wheels of India’s economy faster. (Mint)

Will India’s 2025-26 tax cut spur consumption and GDP growth?

3 min read . 01 Apr 2025

This is because funds credited to the NRO account may not always have suffered TDS (tax deducted at source). (Image: Pixabay)

Can I transfer a gifted amount from the NRO account to a foreign bank account?

3 min read . 31 Mar 2025

To be able to claim income tax deduction for FY 2024-25, taxpayers must invest in tax saving instruments before March 31

Income Tax Deadline! Last 2 days to invest in tax saving instruments

2 min read . 30 Mar 2025

The Income Tax Department notices to salaried taxpayers who claimed HRA but failed to deduct tax at source should serve as a wake-up call. (Image: Pixabay)

Claimed HRA but skipped TDS on rent? The taxman wants answers

4 min read . 27 Mar 2025

Finance Bill 2025: The new tax bill allows officials to access communication platforms like emails, WhatsApp, and Telegram, as well as enterprise software and storage servers used by businesses to conceal financial transactions.

Will the new Income Tax Bill give govt access to your encrypted Whatsapp chats?

2 min read . 26 Mar 2025

I-T rules for safe harbour laws: I-T laws have been tweaked to provide tax benefits to EV makers. Safe harbour rules has been expanded by raising the threshold for availing safe harbour to ₹300 crore from ₹200 crore. (Shutterstock)

I-T rules tweaked to expand safe harbour law

3 min read . 25 Mar 2025

The biggest advantage of forming an HUF is its ability to minimize tax liability. (Image: Pixabay)

Maximise your tax savings with an HUF: A smart yet underused strategy

3 min read . 25 Mar 2025

If the TDS deducted by the employer doesn’t cover the tax liability on extra income, the employee must pay advance tax—or risk incurring interest. (Image: Pixabay)

Income tax hack: Do this by 31 March to avoid interest on advance tax shortfall

3 min read . 18 Mar 2025

Total number of income tax returns filed upto Feb 28 stand at 9.11 crore

Over 4.68 lakh taxpayers filed ITR for income over ₹1 crore till Feb 28

1 min read . 17 Mar 2025

Taxpayers can invest in a tax saving scheme before March 31 to claim deduction in the same year.

Deadline Alert! Last 2 weeks left to invest in tax-saving instruments

1 min read . 16 Mar 2025

Taxpayers can claim tax deduction under section 80C by investing in one or more of small savings schemes

These 6 small savings schemes offer tax deductions under section 80C

2 min read . 15 Mar 2025