Income Tax News

Various measures taken by Govt. contributed to increase in tax collection

09 August 2022 at 08:43

Various factors like rapid economic recovery post COVID, better compliances due to various measures taken by Government have contributed to increase in tax collection.

Posted in Income Tax | 1398 Views

CBDT issues conditions, forms to get IT exemption on COVID-19 help money

08 August 2022 at 08:45

Conditions, forms to get IT exemption on Covid 19 help money

Posted in Income Tax | 5016 Views

CBDT notifies condition for claiming tax exemption for receiving ex-gratia amount due to COVID-19

08 August 2022 at 08:45

Condition for claiming tax exemption for receiving ex-gratia amount due to COVID-19

Posted in Income Tax | 5415 Views

IRS officer Rakesh Kumar promoted as Commissioner of Income Tax

06 August 2022 at 08:43

Rakesh Kumar an IRS officer of 2004 batch from Jammu has been promoted as Commissioner of Income Tax.

Posted in Income Tax | 8799 Views

IT Department conducts raid in more than 25 premises

06 August 2022 at 08:43

The Income Tax Department carried out a search and seizure operation on 28.07.2022 on an ex-fund manager and chief trader of equities of a prominent mutual fund house along with related sharebrokers, middlemen and entry operators.

Posted in Income Tax | 9117 Views

IT Department conducts searches on Healthcare Provider Groups in Haryana and Delhi-NCR

04 August 2022 at 08:47

The Income Tax Department carried out search and seizure operations on 27.07.2022 on several groups engaged in the healthcare services by running hospitals.

Posted in Income Tax | 1146 Views

CBDT amends Rule 21AK for exemption u/s 10(4E)

03 August 2022 at 08:48

The Central Board of Direct Taxes (CBDT) on August 1, 2022 has issued the Income-tax (Twenty Third Amendment) Rules, 2022 to further amend the Income-tax Rules,1962.

Posted in Income Tax | 8706 Views

IT raids on conglomerate unearthed unaccounted transactions exceeding Rs.1000 crore

03 August 2022 at 08:48

The Income Tax Department carried out a search and seizure operation on 20.07.2022 on a prominent business conglomerate engaged in diversified fields of Textiles, Chemicals, Packaging, Real estate and Education.

Posted in Income Tax | 6432 Views

New record of over 72.42 lakh (7.24m) ITRs filed on a single day

02 August 2022 at 08:43

The Department expresses its gratitude to taxpayers and tax professionals for making compliances in time leading to a surge in filing of Income Tax Returns (ITRs) resulting in a new record of ITRs filed on a single day.

Posted in Income Tax | 3 comments | 7005 Views