Income Tax News

Income Tax Department Ensures No Data Loss in CR Building Fire Tragedy

16 May 2024 at 08:56

The Income Tax Department has reassured taxpayers that no data loss occurred due to the fire incident at its CR Building in ITO, where one official tragically lost his life.

Posted in Income Tax | 2277 Views

Tax Incentives Can Drive Sustainable Manufacturing Growth

15 May 2024 at 08:51

Experts emphasize the pivotal role of financial incentives in propelling the adoption of green manufacturing practices among businesses.

Posted in Income Tax | 516 Views

CBDT releases new functionality in AIS to increase transparency

14 May 2024 at 08:43

Taxpayers can now check whether their feedback is acted upon by the Source/Reporting Entities

Posted in Income Tax | 1 comments | 5616 Views

Section 43B: Deductible Expenses Beyond MSME Payments

13 May 2024 at 08:57

Section 43B of the Income Tax Act, 1961, stands as a critical component shaping the financial landscape for businesses and professionals in India.

Posted in Income Tax | 1260 Views

ITR-3 Excel, Offline & Online Utility for AY 2024-25 Now Accessible for Filing

11 May 2024 at 09:05

Excel, Offline and Online Utility of ITR-3 for AY 2024-25 is available for filing.

Posted in Income Tax | 1380 Views

Over 800,000 Income Tax Returns Filed for AY 2024-25

09 May 2024 at 09:15

The Central Board of Direct Taxes (CBDT) has reported a significant surge in tax return filings for Assessment Year 2024-25, with over 800,000 returns already submitted since April 1, 2024.

Posted in Income Tax | 4560 Views

Income Tax Department Enhances User Experience with New E-Proceedings Tab

09 May 2024 at 09:13

The Income Tax Department has rolled out a new feature within its e-proceedings tab.

Posted in Income Tax | 1476 Views

Supreme Court Refuses Plea by Micro and Small Enterprises Regarding 45-Day Payment Rule

07 May 2024 at 07:56

In a recent development, the Supreme Court (SC) has declined to entertain a plea filed by Micro and Small Enterprises (MSEs) challenging the 45-day payment rule stipulated in Section 43B(h) of the Income Tax Act.

Posted in Income Tax | 4320 Views

Senior Income Tax Official Arrested in Mumbai for Alleged Bribery

06 May 2024 at 08:46

In a startling development, the Central Bureau of Investigation (CBI) has apprehended a senior official of the Income Tax (IT) department in Mumbai.

Posted in Income Tax | 1323 Views

FM Sitharaman Refutes Post-Election Income Tax Speculations

04 May 2024 at 09:00

Finance Minister Nirmala Sitharaman has refuted recent media reports speculating sweeping changes to the income tax system following the upcoming Lok Sabha election results.

Posted in Income Tax | 3660 Views