Income Tax News
Record 7.85 crore ITRs filed for all Assessment Years up to 31st October, 2023
02 November 2023 at 08:51The Income Tax Department registered a record number of filing of Income Tax Returns (ITRs) till 31st October, 2023
Colgate Palmolive Faces Rs 170 Crore Transfer Pricing Order in Tax Dispute
01 November 2023 at 14:28Colgate Palmolive (India) Faces Rs 170 Crore Transfer Pricing Order from Income Tax Authorities for International Transactions
Income Tax Department Launches Extensive Profiling of HNIs to Combat Tax Evasion
01 November 2023 at 08:58In a bid to curb tax evasion, the Income Tax Department is set to take strict action against high-net-worth individuals (HNIs) who underreport their incomes, despite recent tax rate reductions.
Bombay High Court Issues Stern Warning to IT Assessing Officers for Delayed Assessment Orders
31 October 2023 at 08:49In a recent development, the Bombay High Court has expressed strong disapproval of the functioning of income tax (IT) assessing officers and their handling of delayed assessment orders.
Income Tax Department Launches 360-Degree Profiling of HNI Tax Evaders
27 October 2023 at 08:53The Income Tax Department is all set to crack down on high net worth individuals (HNIs) who underpay their taxes.
Teacher Falls Victim to PAN Card Update Scam, Loses Rs 3.82 Lakh
27 October 2023 at 08:50A 36-year-old preschool teacher in Mira Road lost over ₹3.82 lakhs to cybercrooks who posed as bank officials.
Condonation of Delay for Form No. 10-IC Filing in AY 2021-22 u/s 119(2)(b)
24 October 2023 at 08:11CBDT issued Circular No. 19/2023 dated October 23, 2023 regarding the condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC for the Assessment Year 2021-22.
Income Tax Department Exposes Rs 1200 Crore Tax Evasion Scheme Involving Jagathrakshakan and Saveetha Groups
24 October 2023 at 08:09Massive Income Tax Raids Reveal Staggering Financial Irregularities Linked to DMK MP S Jagathrakshakan and Saveetha Educational Group
CBDT Introduces Form No. 56F for Assessees Seeking Deduction u/s 10AA of IT Act
21 October 2023 at 08:02The Central Board of Direct Taxes (CBDT) issued Notification No. 91/2023 on October 19, 2023, introducing a new Rule 16D into the Income-tax Rules, 1962.
UP Laborer Receives Income Tax Notice, Discovers Over Rs 221 Crore in Account
21 October 2023 at 08:00Shiv Prasad Nishad Discovers Enormous Funds in His Account, but the Source Remains a Mystery
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