Income Tax News

CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims

09 April 2024 at 09:04

There is no special drive to re-open cases of mismatch, and media reports alleging that large-scale re-opening is being undertaken by the CBDT are completely misplaced

Posted in Income Tax | 3015 Views

New Forms Released for Aircraft and Ship Leasing Businesses, Including Dividend Exemption

06 April 2024 at 15:52

New Form-1 (Aircraft Leasing business), Form -1 {Dividend exempt u/s 10(34B)}, Form-1 (Ship Leasing Business), Form-10IEA, Form-10IFA & Form-3AF are released.

Posted in Income Tax | 696 Views

Kanpur Man Arrested for Posing as Income Tax Officer to Hide Unemployment

05 April 2024 at 14:33

A 24-year-old man from Nai Basti, identified as Ritesh Sharma, found himself in police custody on Wednesday for allegedly posing as an Income Tax officer.

Posted in Income Tax | 2949 Views

CBDT Enables Functionalities to File ITRs for AY 2024-25 w.e.f 1st April 2024

05 April 2024 at 09:01

The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards.

Posted in Income Tax | 1 comments | 4356 Views

Infosys Faces Rs 341 Crore Tax Demand for AY 2020-21

03 April 2024 at 09:03

Infosys, the renowned IT services company, disclosed receiving a substantial tax demand from the Income Tax Department, amounting to Rs 341 crore for the assessment year 2020-21.

Posted in Income Tax | 3702 Views

CBDT Sets 30-Day Verification Deadline for Income Tax Returns from 1st April 2024

03 April 2024 at 09:02

CBDT has issued a significant notification, No. 2 of 2024, dated March 31, 2024, pertaining to the time limit for verifying income tax returns after uploading. ..

Posted in Income Tax | 7191 Views

Income Tax Department Unearths Massive PAN Misuse in Fake HRA Claims

02 April 2024 at 09:13

The Income tax department has uncovered a sophisticated scam involving the fraudulent exploitation of PAN to claim HRA without actual tenancy.

Posted in Income Tax | 11931 Views

ITR-1, ITR-2 and ITR-4 Now Offer Online Filing with Prefilled Data on Income Tax Portal

01 April 2024 at 09:19

The Income Tax Department has introduced a significant enhancement to the online filing process for Income Tax Returns (ITRs) by enabling ITR-1, ITR-2, and ITR-4 with prefilled data on the income tax portal.

Posted in Income Tax | 1011 Views