Income Tax Department

Financial crime investigations in Odisha

4 clusters · 7 sources · last updated about 14 hours ago

Latest: Odisha police arrest four in international cybercrime network bust

Police in Odisha have dismantled several criminal operations involving financial fraud and the use of mule bank accounts. In Bhubaneswar, authorities arrested three individuals, including a private bank field agent, for

Indian income tax regulation and dispute resolution

4 clusters · 3 sources · last updated 1 day ago

Latest: Indian High Courts rule on income tax reassessment validity

The Indian Income Tax Department has introduced new guidance regarding Income Computation and Disclosure Standards (ICDS) to standardize taxable income calculations and reduce litigation. These standards provide framewor

India EPF rules and 2026 scheme updates

10 clusters · 19 sources · last updated 2 days ago

Latest: EPFO updates rules for EPF advance withdrawals

In July 2026, Employees' Provident Fund (EPF) rules were clarified: withdrawals after five years of continuous service are tax-exempt, while earlier withdrawals trigger TDS only on amounts of ₹50,000 or more if a PAN is

India tax administration and reforms

179 clusters · 120 sources · last updated 4 days ago

Latest: India advance tax deadline set for September 15

Throughout August 2026, India’s tax landscape underwent a major transition as the nation moved from the 1961 legislation to the new Income-tax Act, 2025. This new legal framework, updated by the Finance Act, 2026, aims t

Fire and structural incidents across India

2 clusters · 16 sources · last updated 6 days ago

Latest: Baghpat expressway accident kills several pilgrims

Multiple fire incidents have been reported across various regions in India, involving diverse causes and locations. In mid-August, a fire at the Aayakar Bhavan Income Tax Office in Mumbai required the evacuation of the

India income tax return compliance and processing

2 clusters · 4 sources · last updated 7 days ago

Latest: India Income Tax Return deadlines and rules for belated filings

Taxpayers in India are navigating various compliance requirements and potential delays regarding their income tax returns (ITR) for 2026. Initial reports highlight that taxpayers may face refund delays or receive notice

India tax revenue and high-income taxpayer growth

2 clusters · 7 sources · last updated 11 days ago

Latest: India GST revenue rises 14.8% to nearly Rs 2 lakh crore in August

India has experienced growth in both individual high-income tax reporting and broader government tax collections. For the 2026 assessment year, the number of ultra-high-income taxpayers reporting annual incomes of Rs 100

India foreign asset disclosure scheme

4 clusters · 9 sources · last updated 12 days ago

Latest: FAST-DS 2026 scheme introduces foreign asset disclosure and enforcement

The Indian government has introduced the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) 2026. Operational from August 16 through December 31, 2026, this one-time initiative allows eligible taxpayers to reg

India 2026 income tax filing season

6 clusters · 33 sources · last updated 14 days ago

Latest: Income tax return deadline set for August 31 for non-audit taxpayers

As the August 31 deadline for non-audit taxpayers approaches, specific details regarding late filings and penalties have become clear. This deadline applies to individuals with business or professional income, such as fr

Evolution of cyber fraud and hybrid scams in India

3 clusters · 9 sources · last updated 16 days ago

Latest: Hyderabad authorities warn of rising digital and hybrid cyber fraud

Following the late July 2026 advisory regarding fake tax refund schemes, new reports from August highlight the increasing complexity of cyber-fraud in India. In Rajkot, a 63-year-old retired woman was targeted by a frau

Indian income tax regulations and rulings

2 clusters · 2 sources · last updated 18 days ago

Latest: India tax authorities clarify rules on arrears and ESOP buy-backs

Taxation guidelines and rulings in India have addressed various forms of investment and employment income. Initial guidance emphasized the distinction between intraday equity trading, classified as speculative business i

Indian tax authority wealth seizures

2 clusters · 3 sources · last updated 22 days ago

Latest: Income Tax officials seize Rs 10.3 crore in cash near Bengaluru

Indian tax authorities have conducted significant operations to seize unaccounted wealth and investigate potential tax evasion. In one major operation in Tamil Nadu, officials raided 22 locations linked to Nagarajan Sey

India Liberalised Remittance Scheme regulations

2 clusters · 2 sources · last updated 22 days ago

Latest: India remittance rules: LRS limits and tax regulations

Indian investors are increasingly using the Liberalised Remittance Scheme (LRS) to move capital into overseas equities and alternative assets. In May 2026, outward remittances under the LRS reached $2.39 billion, with in

India Income Tax Department technological upgrades

2 clusters · 4 sources · last updated 24 days ago

Latest: Income Tax Department to launch Project Insight 2.0 for faster refunds

The Indian Income Tax Department is implementing technology-driven initiatives to increase transparency and efficiency. The department utilizes a faceless assessment system that employs data analytics, artificial intelli

India Income Tax Department foreign remittance probe

2 clusters · 14 sources · last updated 25 days ago

Latest: Income Tax Department probes 394 entities over suspicious foreign remittances

The Indian Income Tax Department has initiated investigations into suspicious foreign remittances and potential money laundering. The probe began with large-scale search operations in several Gujarat cities, including Ah

Income Tax Department sports quota appointments

2 clusters · 4 sources · last updated 29 days ago

Latest: Kerala athletes secure government jobs and state cash rewards

The Income Tax Department in Mumbai has appointed 97 athletes to government positions under a sports quota, selecting them from a pool of 3,595 applicants. Notable appointees include cricket all-rounder Tanush Kotian, cr