Overview
- Net direct-tax collections rose 6.99% year-on-year to over Rs 12.92 lakh crore through November 10, according to CBDT data.
- High-value or system red-flagged refund claims are under verification, with legitimate payouts expected by December.
- Low-value refunds continue to be released, while taxpayers have been urged to file revised returns where gaps are identified.
- ITR and TDS-related forms under the simplified Income Tax Act, 2025 will be notified by January 2026 ahead of the April 1, 2026 rollout.
- The board is working on TDS rationalisation and dispute-reduction measures, with appellate disposals reported over 40% higher than last year.