Income Tax News
Govt Accumulates Over Rs 600 Crore in Penalties for Delayed PAN-Aadhaar Linking
06 February 2024 at 15:15In a recent disclosure to the Parliament, Minister of State for Finance Pankaj Chaudhary unveiled staggering figures regarding the ongoing issue of linking Permanent Account Numbers (PAN) with Aadhaar
Income Tax Dept Achieves Over Rs 1260 Crore TDS Collection on Online Gaming and Cryptocurrency Trade
05 February 2024 at 09:15Government Gains INR 1,260 Crore Through Innovative TDS Framework on Online Gaming and Cryptocurrency Trade
Income Tax Department Notifies Higher TDS/TCS Rates for 'Inoperative' PANs
03 February 2024 at 09:23The Income Tax Department has issued a crucial attention notice to Tax Deductors and Collectors, notifying them of the implications of PAN status marked as 'Inoperative' on TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) rates.
CBDT Extends Time for Processing E-Filed Returns with Refund Claims in Non-Scrutiny Cases
03 February 2024 at 09:22CBDT has issued an order dated January 31, 2024, announcing an extension in the time-limit for processing non-scrutiny Income Tax Returns up to Assessment Year (AY) 2020-21.
CBDT notifies new ITR Forms for AY 2024-25
03 February 2024 at 09:20CBDT notifies Income Tax Return Forms for the Assessment Year 2024-25 well in advance for the Assessment Year (A.Y.) 2024-25
CBDT Notifies Income Tax Return Form ITR-6 for AY 2024-25
29 January 2024 at 09:05The Central Board of Direct Taxes (CBDT) has recently issued a crucial notification, marked as Notification No. 16/2024 on January 24, 2024.
Supreme Court: Assessing Officer Bears Burden to Rectify Defects in Tax Returns
26 January 2024 at 08:01The Supreme Court on Tuesday clarified that if a tax return is deemed defective, it is the responsibility of the assessing officer to inform the assessee and provide an opportunity for rectification.
IT Department Urges PAN Verification to Avoid Higher TDS/TCS Rates for Deductors
25 January 2024 at 17:35The Income Tax Department has released a crucial update directed towards deductors, underscoring the significance of verifying the PAN status of deductees.
IT department provides clarity on eligibility for deduction of donations to Ram Mandir u/s 80G
24 January 2024 at 09:23The Income Tax department has provided clarity on the eligibility of donations made towards the repair, rebuild, or renovation of the Ram Mandir in Ayodhya, administered by the Shri Ram Janmabhoomi Teerth Kshetra Trust.
CBDT releases key Direct Tax Statistics through Time-Series data
24 January 2024 at 09:21The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time.
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