Income Tax News

SC: IT department cannot initiate reassessment proceedings during pendency of rectification proceedings

16 December 2022 at 11:31

The Supreme Court has held that the income tax department cannot initiate the reassessment proceedings during the pendency of the rectification proceedings.The division bench of Justice M.R. Shah and Justice C.T. Ravikumar has observed that the Punja

Posted in Income Tax | 6954 Views

CBI arrests 9 IT officials for joining dept without exams

15 December 2022 at 08:28

The Central Bureau of Investigation (CBI) arrested nine Income Tax (I-T) officers in Maharashtra's Nagpur for allegedly joining the department without appearing for the mandatory examination conducted by the Staff Selection Commission.

Posted in Income Tax | 6390 Views

CBDT exempts non-resident taxpayers from mandatory e-filing of Form 10F till 31st March 2023

14 December 2022 at 08:47

The Central Board of Direct Taxes (CBDT) has given partial relief to non-resident taxpayers by exempting them from mandatory electronic filing of Form 10F until March 2023.

Posted in Income Tax | 12144 Views

PAN-Aadhaar linking made mandatory for all PAN holders who do not fall under exempt category

12 December 2022 at 08:38

The income tax department has issued a warning to taxpayers who are yet to link their PAN with their Aadhaar.

Posted in Income Tax | 12060 Views

CBDT issued circular on TDS from salaries u/s 192 during FY 2022-23

09 December 2022 at 08:43

INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2022-23 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961

Posted in Income Tax | 26298 Views

IT dept warns taxpayers of a fake profile posing as income tax customer care

08 December 2022 at 08:38

This profile/number, which is posing as Income Tax Department Support/Customer Care, is FAKE. Please do not call the said number or respond to any calls or communication from it asking you to share your personal, financial, or other sensitive information.

Posted in Income Tax | 6438 Views

ITR of deceased can be considered computing annual income for grant of motor accident compensation

07 December 2022 at 09:40

The Supreme Court on Tuesday (6th Dec 2022) ruled that, while calculating annual income for grant of motor accident compensation, the courts can consider the Income Tax Return of the deceased.

Posted in Income Tax | 14517 Views

IT Department issues updated list of banks for tax payments

03 December 2022 at 08:39

List of banks for tax payments available at e-Pay Tax service at e-Filing Portal and OLTAS ePayment of Taxes at Protean (previously NSDL)

Posted in Income Tax | 10362 Views

IT department moves to resolve tax refund issues quickly

02 December 2022 at 08:39

The income-tax department has issued instructions to ensure taxpayer grievances about adjustment of tax dues against pending refunds are resolved quickly to check avoidable litigation.

Posted in Income Tax | 7056 Views

About Rs 400 crore tax deposited by filing updated ITRs so far

25 November 2022 at 08:41

The recently introduced provision of allowing taxpayers to update their tax returns has seen as many as 5 lakh re-filings with about ₹400 crore additional tax coming in, a senior government official said on Thursday.

Posted in Income Tax | 6720 Views