Income Tax News
SC Defers Gandhi Family's IT Assessment Case Hearing till 13th December
02 December 2023 at 14:22Supreme Court Defers Hearing on Gandhi Family and AAP's Income Tax Assessment Transfer Challenge
Income Tax Department enables Discard ITR Option for Unverified Original/Belated/Revised ITRs Starting from AY 2023-24
29 November 2023 at 08:54The Income Tax Department has introduced a new feature on its website that enables taxpayers to discard unverified original, belated, or revised Income Tax Returns (ITRs) for Assessment Year (AY) 2023-24 onwards.
Deadline Approaches for Updated ITR-U Filings for AY 2021-22 by 31st March 2024
25 November 2023 at 08:46Urgent Reminder for Taxpayers: File Your Updated Income Tax Return by March 31, 2024
Survey: Over 50% of Individuals Receive IT Refunds in a Month
24 November 2023 at 08:44Indian Taxpayers and Businesses Celebrate Expedited Refunds, Reveal CII Survey
CBDT Appoints Deputy Director General of UIDAI as Authority u/s 138 of the IT Act
23 November 2023 at 08:48The Central Board on Direct Taxes (CBDT) has designated the Deputy Director General (Tech Development Division) of the Unique Identification Authority of India (UIDAI) as an authority under Section 138 of the Income Tax Act, 1961.
IT Department Unearths Rs 10,000 Crore Tax Evasion by Online Sellers on Instagram and Facebook
23 November 2023 at 08:44Income Tax department has uncovered a major tax evasion scandal, amounting to nearly Rs 10,000 crore over a three-year period, involving e-tailers selling goods through popular social media platforms such as Instagram and Facebook.
CBDT Issues Corrigendum for SFT Guidelines on Mutual Fund Transactions by Registrar & Share Transfer Agent
22 November 2023 at 08:48CBDT issued a Corrigendum to Notification No. 4 of 2021 dated November 15, 2023, concerning the Format, Procedure, and Guidelines for the submission of the SFT for Mutual Fund Transactions by Registrar & Share Transfer Agent.
TCS Exemption for Rs 7 Lakh International Card Spend Expected in Interim Budget
21 November 2023 at 08:51Anticipated Tax Relief: Government Set to Exempt Overseas Card Spending from TCS Up to ₹7 Lakh
Industry Alleges Chaos and Legal Logjam Amid Faceless Tax Assessment System Implementation
18 November 2023 at 07:56In an effort to enhance the efficiency of the faceless tax assessment facility introduced by the Income Tax Department, the industry has reached out to the CBDT, urging the implementation of key modifications to mitigate chaos and legal complexities.
CBDT Chairman Forecasts India to Surpass Rs 18.23 Lakh Crore Direct Tax Collection Target
17 November 2023 at 08:44In a positive development, Central Board of Direct Taxation (CBDT) chairman Nitin Gupta announced on Wednesday that the government is on track to exceed the ₹18.23 lakh crore direct tax collection target set for the current fiscal year
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