The Central Board of Direct Taxes (CBDT) has granted it income tax exemption under Section 10(46) and 10(46A) of the Income-tax Act, 1961. Key Details of the Exemption This significant exemption was announced via Notification No. 16/2025 on February 12, 2025. Here’s what you need to know: In simple terms, as long as RERA Punjab … Read more
Crypto Investments Under the Tax Scanner: CBDT Launches Major Probe The Central Board of Direct Taxes (CBDT) is cracking down on potential tax evasion and money laundering through Virtual Digital Assets (VDAs), including cryptocurrencies. This isn’t just a warning; it’s a full-blown probe, with high-risk VDA investors now under intense scrutiny. The tax authority has … Read more
The Central Board of Direct Taxes (CBDT) has just dropped some significant updates regarding Income Tax Return (ITR) filing for 2025, particularly concerning mandatory scrutiny. If your case falls into certain categories, it’s highly likely you’ll be getting a notice. New Rules for Mandatory ITR Scrutiny The CBDT has outlined specific conditions that will trigger … Read more
A parliamentary committee reviewing India’s Income Tax Bill, 2025, is set to recommend clarifying the language in some clauses to remove ambiguity, rather than proposing any major overhauls. This suggests the focus is on simplification and clarity within the existing framework. The committee, led by BJP MP Baijayant Panda, is expected to submit its report … Read more
CBDT Cracks Down on Undisclosed Crypto Income India’s tax authorities are intensifying their efforts to ensure compliance with cryptocurrency income declarations. The Central Board of Direct Taxes (CBDT) has launched a significant crackdown on individuals and entities suspected of evading taxes and laundering money through undisclosed or underreported crypto transactions. The CBDT’s data-driven investigation has … Read more