Income Tax News

Income Tax Authority Set to Investigate 20 Entities for Potential Irregularities in Adani Share Profits

30 August 2023 at 14:25

The income-tax department is considering a potential investigation into both domestic and overseas entities for possible tax evasion related to profits gained from short-selling shares of companies within the Adani Group. This move comes in the wake

Posted in Income Tax | 7359 Views

Income Tax Department Probes 6 Foreign Tour Package Companies for Alleged Tax Evasion

30 August 2023 at 08:46

The Income Tax Department is investigating tax evasion by six companies that offer foreign tour packages.

Posted in Income Tax | 8802 Views

CBDT Notifies New Income Tax Rules 13 and 13A Aligned with Finance Act, 2023

30 August 2023 at 08:44

CBDT (Central Board of Direct Taxes) notified Rules 13 and 13A of the Income Tax Rules on August 28, 2023, to implement the amendments made to section 132 of the Income Tax Act, 1961 by the Finance Act, 2023.

Posted in Income Tax | 10644 Views

Offline Mode Enabled for E-Filing of Form 10B for AY 2023-24

29 August 2023 at 08:39

E-filing of Form 10B for A.Y. 2023-24 is enabled through offline mode. Taxpayers can download Offline Utility through "Downloads" Menu option ->Click on Form 10B->Form utility (From AY 23-24 onwards).

Posted in Income Tax | 10203 Views

CBDT launches revamped National Website of Income Tax Department

26 August 2023 at 14:33

CBDT launches revamped National Website of the Income Tax Department www.incometaxindia.gov.in

Posted in Income Tax | 13740 Views

Govt Aims to Slash Income Tax Refund Processing Time from 16 Days to 10 Days

26 August 2023 at 08:47

The proposed reduction from 16 days to 10 days, as per reports, indicates the Income Tax department's efforts to streamline its operations and enhance efficiency.

Posted in Income Tax | 11109 Views

Form-10B Utility Released by Income Tax Department

25 August 2023 at 08:45

Income Tax Department has released the Form 10B utility on August 24, 2023.

Posted in Income Tax | 9939 Views

5.5 Crore Taxpayers Likely to Have Opted for New Tax Regime in FY24: A Comparative Analysis

23 August 2023 at 08:46

Taxpayers have the flexibility to choose between the new and old tax regimes based on their financial circumstances and tax-saving preferences. If individuals find that the new regime is more beneficial for them, they can switch to it.

Posted in Income Tax | 1 comments | 6534 Views

CBDT | Rent-Free Accommodation Taxed as Perquisite

22 August 2023 at 08:50

The Income tax (Eighteenth Amendment), Rules, 2023 was notified by the Central Board of Direct Taxes (CBDT) on August 18, 2023. These rules amend the Income-tax Rules, 1962, with effect from September 1, 2023.

Posted in Income Tax | 4806 Views

CBDT Issues Exchange Rate Notification for Foreign Currency TDS Deductions

22 August 2023 at 08:49

The Income-tax (Seventeenth Amendment) Rules, 2023 was notified by the Central Board of Direct Taxes (CBDT) on August 17, 2023. The amendment has made changes to the Income-tax Rules, 1962

Posted in Income Tax | 7515 Views