Income Tax News

Businessman Faces One-Year Jail Term for Bounced Cheques to Income Tax Department

01 May 2024 at 09:03

A recent verdict by a Gandhinagar court has landed Chandkheda resident Mehulkumar Barot in hot water, resulting in a one-year prison sentence.

Posted in Income Tax | 897 Views

ICAI releases Exposure Draft of Guidance Note on Reports on Audit u/s 12A/10(23C)

30 April 2024 at 08:50

Exposure Draft - 'Guidance Note on Reports on Audit under Section 12A/10(23C) of the Income-tax Act,1961' for Public Comments

Posted in Income Tax | 669 Views

Income Tax Department: Half of India Holds PAN, Gender Gap Shrinks

29 April 2024 at 08:48

Nearly half of India's population now possesses a Permanent Account Number (PAN), totaling a staggering 74.67 crore allocations.

Posted in Income Tax | 3183 Views

Income Tax Department Unveils Revised Form Utility and Schema

26 April 2024 at 08:54

Common offline utility for Form 3CA-3CD and 3CB-3CD

Posted in Income Tax | 1 comments | 1107 Views

CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024

26 April 2024 at 08:50

The Central Board of Direct Taxes (CBDT), has issued Circular No. 07/2024 dated 25.04.2024 further extending the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 (the ‘Act’) upto 30th June, 2024.

Posted in Income Tax | 5325 Views

ITR-6 Excel Utility for AY 2024-25 is Available For Filing

26 April 2024 at 08:49

ITR-6 Excel Utility for AY 2024-25 is Available For Filing

Posted in Income Tax | 663 Views

CBDT Extends PAN-Aadhaar Link Deadline Until 31st May 2024

24 April 2024 at 11:01

For the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, there shall be no liability on the deductor/collector

Posted in Income Tax | 4 comments | 21690 Views

Proposed Income Tax Act Amendment Targets MSME Dues Tax Treatment

24 April 2024 at 09:04

A recent alteration in the Income Tax Act, aimed at bolstering small businesses by ensuring timely payments, might have inadvertently deterred potential buyers from engaging with them.

Posted in Income Tax | 1 comments | 4392 Views

Income Tax Department Launches Drive to Clear 0.54 Million Appeals

24 April 2024 at 09:02

As of January 31 this year, a staggering 5,44,205 appeals awaited resolution within the corridors of the Income Tax Department

Posted in Income Tax | 2631 Views

Yes Bank Shares Surge on Receipt of Rs 284.21 Crore Tax Refund

23 April 2024 at 08:52

Shares of Yes Bank witnessed a significant uptick in early trading today, buoyed by positive developments including a substantial tax refund order and an equity allotment decision.

Posted in Income Tax | 777 Views