Income Tax News

Central Govt doubles tax devolution to states, releases Rs 1,18,280 crore in 3rd instalment

13 June 2023 at 08:50

Central Government releases ₹1,18,280 crore as 3rd instalment of tax devolution to State Governments as against normal monthly devolution of ₹59,140 crore

Posted in Income Tax | 2733 Views

Finance Ministry set to provide clarity on TCS for foreign remittance under LRS

12 June 2023 at 08:44

Finance Ministry is going to come out with a detailed clarification regarding TCS (Tax Collected at Sources) on Liberalised Remittance Scheme (LRS), a senior Government official said on Friday.

Posted in Income Tax | 8142 Views

Income Tax Assessees Granted 21 Days to Respond to Refund Adjustment Intimations

12 June 2023 at 08:43

An income tax assessee will get 21 days to respond to notices issued by the Central Processing Centre (CPC) regarding set-off and withholding of refund.

Posted in Income Tax | 9291 Views

Offline Excel Utility for ITR-5 AY 2023-24 now accessible for filing

10 June 2023 at 16:22

Offline Excel utility of ITR-5 for AY 2023-24 is available for filing

Posted in Income Tax | 8931 Views

Offline utilities for ITR-1 and ITR-4 available for AY 2023-24

10 June 2023 at 16:20

Income Tax Department has released offline utilities for ITR-1 and ITR-4 for the assessment year 2023-24.

Posted in Income Tax | 9744 Views

Form 10A filing for AY 2022-23 begins

09 June 2023 at 08:53

The Central Board of Direct Taxes (CBDT) has enabled the filing of Form 10A for regular registration/approval for Assessment Year (AY) 2022-23.

Posted in Income Tax | 19554 Views

ITR-3 for AY 2023-24 now available online with prefilled data

09 June 2023 at 08:52

Income Tax Return Form of ITR-3 for AY 2023-24 is enabled to file through Online mode with prefilled data at the portal.

Posted in Income Tax | 15240 Views

CBDT revises exceptions to monetary limits for filing appeals deferred in Section 158AB provisions

08 June 2023 at 08:58

The Income Tax Department has revised the exceptions to the monetary limits for filing appeals deferred under the provisions of Section 158AB of the Income Tax Act, 1961.

Posted in Income Tax | 5667 Views

UP Farmer Receives 23 Tax Notices Totaling Rs 1.6 Crore Due to Bank Error

08 June 2023 at 08:54

A farmer from Uttar Pradesh's Phaloda village received about 23 notices over the past year from the Income Tax Department, asking him to pay outstanding taxes of Rs 1.6 crore.

Posted in Income Tax | 2775 Views