Income Tax News
New Income Tax Regime Faces Potential Tweaks for Further Enhancements
15 January 2024 at 08:31Government sources, speaking on condition of anonymity, reveal that any further shift of taxpayers to the concessional personal income tax regime might necessitate additional tweaks for increased attractiveness.
Income Tax Raid on 4 Noida Builders Yields Rs 1500 Crore Unaccounted Cash
15 January 2024 at 08:2840 Teams, 250 Officials Deployed in Intensive 6-Day Search on Bhutani Infra, Group 108, Advent, and Logix
Direct Tax Collections Soar: 80.61% of Budget Estimates Achieved in FY 2023-24
12 January 2024 at 11:36Gross Direct Tax collections at Rs. 17.18 lakh crore with Y-o-Y growth of 16.77%, as on 10th January, 2024
IT Dept conducts search operations in Mumbai engaged in the manufacturing of electrical items
12 January 2024 at 09:10Income Tax Department initiated search and seizure operations in the case of a group, engaged in the manufacturing of wires and cables and other electrical items on 22.12.2023.
Income Tax Department Mandates LEI for Non-Individuals with Refunds over Rs 50 Crore
11 January 2024 at 09:18In a recent announcement, the Income Tax Department has introduced a new requirement for non-individual entities regarding the Credit of Refunds exceeding Rs. 50 crore.
Assessment Year 2024 Poised for a 20% Drop in Late-Filed ITRs, Reveals Latest Report
11 January 2024 at 09:17The State Bank of India's recent report on income tax filings reveals a significant uptick in the number of individuals filing income tax returns in the assessment year 2022-23 (AY23).
Over 60% of Taxpayers adopt New Income Tax Regime
04 January 2024 at 09:00Robust Growth in Tax Returns and Collections Signals Success of New Income Tax Regime
Income Tax Department Releases Latest Excel-Based Utility for ITR-1 to ITR-7
03 January 2024 at 09:16The Income Tax Department has recently launched an updated Excel-based utility for filing Income Tax Returns (ITR).
ITR-U Enabled on Income Tax Portal for AY 2023-2024
02 January 2024 at 09:09Income Tax Department Facilitates Seamless E-Filing: ITR-U Now Available on the Portal for AY 2023-2024 (FY 2022-2023)
Income Tax Department Sends Alerts to 3 Million Taxpayers Over TDS-Refund Mismatch
01 January 2024 at 08:14The Income Tax (IT) department has escalated its scrutiny by sending alerts to approximately 3 million salaried taxpayers, drawing attention to disparities between Tax Deducted at Source (TDS) and refunds claimed in their revised tax returns.
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