Topic: Income Tax

The Income Tax Department has issued a notice to actor and filmmaker Prithviraj Sukumaran over payment-related discrepancies linked to three films in which he was both a lead actor and co-producer. 

The Internet Freedom Foundation (IFF) has sent a letter to Baijayant Panda, Chairperson of the Select Committee of the Lok Sabha to Examine the Income Tax Bill, 2025, urging a review of the Bill due to concerns regarding excessive surveillance, privacy violations, and potential misuse by enforcement agencies under Clauses 247, 249, and 261.

Starting from April 1, 2026, the Income Tax Department will have the legal authority to access social media accounts, personal emails, bank accounts, online investment accounts, and trading accounts, according to the Simplified Income Tax Bill 2025, raising concerns about digital privacy.

Finance Minister Nirmala Sitharaman on Thursday introduced the new Income Tax Bill in the Lok Sabha, following cabinet approval. The proposed legislation is set to replace the Income Tax Act, 1961, while the Union government says it aims to modernize and simplify India’s tax structure.

Union Finance Minister Nirmala Sitharaman presented her eighth consecutive Union Budget on Saturday highlighting measures aimed at economic growth, infrastructure development, and tax reforms.

The Income Tax Department has served a fresh notice of Rs 1,823 crore to the Congress a day after the Delhi High Court rejected the party’s petitions challenging the tax reassessment proceedings for the financial years 2017-’18 to 2020-’21.