Direct Tax Update For the Month of September 2025
CBDT extends due date for filing Tax Audit Report for A.Y 2025-26 to 31st October 2025 The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing audit reports under the Income-tax Act, 1961 for AY 2025-26 (PY 2024-25). · Original Due Date: 30th September 2025 · Extended Due Date: 31st October […]
Income Tax Department cracks down on bogus claims of Deductions & Exemptions
The Income Tax Department initiated a large-scale verification operation across various locations in the country on 14th July 2025, identifying individuals and entities that have undertaken fraudulent claims of deductions and exemptions in Income Tax Returns (ITRs). Investigators have uncovered organized rackets by certain ITR prepares and tax consultants, who have been filing returns claiming […]
CBDT notifies specified IFSC Units and non-deduction of tax at source
The Central Board of Direct Taxes (CBDT) has specified certain IFSC (International Financial Services Center) units and specified payments on which tax is not required to be deducted at source as provided under the provisions of the Income Tax Act, 1961. As per this notification dated 20th June 2025, the following payments made by any […]