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FAST-DS 2026: Income Tax Department Notifies Form 1 to Declare Undisclosed Foreign Income & Assets

Foreign assets amnesty scheme goes live with forms now available

Form 1 has to be filed by Dec 31 with valuation of undisclosed income

September 4, 2026 23:50 IST

CBDT Integrates Foreign Assets and Offshore Income Directly into Taxpayer AIS for Seamless Compliance

CBDT allows taxpayers to view foreign assets information

The Central Board of Direct Taxes (CBDT) now displays offshore financial asset and foreign income data received via global AEOI…

July 16, 2026 21:50 IST

Man pays ₹11.83 lakh credit card dues, faces tax addition—ITAT steps in

Man pays Rs 11.83 lakh credit card bill, faces tax addition on entire amount as I-T dept flags it as income — ITAT steps in

Credit card payments flagged in Statement of Financial Transactions (SFT) / Annual Information Return (AIR) data can lead to tax…

April 27, 2026 17:55 IST

TDS made easy for small taxpayers

The deadline to file revised returns has been extended from December 31 to March 31 of the following year.

February 1, 2026 22:00 IST

Will FM Nirmala Sitharaman Present Budget on Sunday? Check 1999 precedent and why Feb 1 remains key for your taxes (Source: AI-Generated)

Will FM Present Budget on Sunday? Check 1999 precedent and why Feb 1 remains key

Will FM Nirmala Sitharaman present the Union Budget 2026 on Sunday, February 1? buHere’s what past precedents suggest and what…

Updated: January 31, 2026 02:11 IST

Rs 6.05 lakh crore festive sales post-GST reforms: FM Sitharaman

FM says ‘Rs 6.05 lakh crore festive sales; simplified GST registration from Nov 1’: Report

Finance Minister Nirmala Sitharaman announced Rs 6.05 lakh crore festive sales and said the simplified GST registration process will begin…

Updated: October 24, 2025 15:54 IST

Q2 advance tax growth modest at 3.9%. (Image Source: Fe)

Advance tax collections see modest growth at 3.9% in Q2

India’s Q2 FY26 advance direct tax collections saw modest growth, largely due to recent income tax relief for individuals

September 19, 2025 18:48 IST

GST, GST collection, taxpayers, tax regime, monthly collection

Gross GST collections double in 5 years to record Rs 22.08 lakh crore in FY25

Gross GST collections doubled in five years to reach an all-time high of Rs 22.08 lakh crore in the 2024-25…

Updated: June 30, 2025 15:24 IST

Unaccounted income invested in crypto on I-T radar

The CBDT is actively investigating tax evasion and money laundering linked to cryptocurrency investments, specifically targeting individuals and entities who…

June 14, 2025 06:00 IST

Income Tax Return Filing 2025: Which ITR should you file? Know types of forms

Taxpayers are required to choose an ITR form and file their returns based on their total income, nature of income,…

Updated: May 25, 2025 22:09 IST

federal tax returns, Last date to file to file, IRS Free File, free electronic filing, tax preparation software, taxpayers

Deadline for American taxpayers to file federal tax returns nearing

Taxpayers can make use of IRS Free File, which is a quick and easy way to file federal tax returns…

March 28, 2025 15:40 IST

Tax, undisclosed income, money, total income, Finance Act, finance, total undisclosed income

Tax sleuths to target undisclosed income only

Govt proposes amendment to Finance Act 2025, clarifying search and seizure focus on undisclosed income, strengthening compliance and reducing tax…

Updated: March 25, 2025 11:33 IST

Can tax officials really ask you about daily rations and toiletries? Here’s what experts say

According to reports, the Income Tax Department is asking taxpayers for full details of their monthly ration expenses, including the…

March 7, 2025 18:54 IST

Income tax officials can access your email, social media accounts from next year: Report

This new provision will come into effect under the proposed Income Tax Bill and will make the process of tax…

March 4, 2025 14:42 IST

Contours of the proposed amnesty scheme

The government has introduced an amnesty scheme under GST laws in the Finance Bill, 2024, aiming to reduce pending cases,…

August 20, 2024 13:33 IST

Attention Taxpayers! Income Tax Department warns against false claims in income tax returns

The Income Tax Department has issued a strong advisory to taxpayers, advising them against submitting income tax returns with inaccurate…

July 6, 2024 09:49 IST

GST collection, CGST, GST, state GST collection, domestic transactions, imports, finance ministry

Record GST collection led by resilient economy; Elections to boost momentum, say experts

According to experts, the GST revenue for the month of March at Rs 1.78 lakh crore reflects not only a…

April 2, 2024 14:08 IST

LTIMindtree, Vodafone, collaboration, IoT, connectivity solutions, AI, machine learning

Technology from a taxation perspective – Budget expectations

Training programmes for tax officials to leverage AI may also be introduced to ensure a smooth transition.

February 1, 2024 08:18 IST

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