Income Tax News
Over 5 crore ITRs filed for AY 2023-24 by 27th July breaking last year's record
29 July 2023 at 10:32The fact that over 5 crore ITRs have already been filed till 27th July 2023, as compared to 30th July last year, shows a commendable commitment to meeting tax obligations promptly.
CBDT issued clarification in respect of Rule 114F (5) of IT Rules
28 July 2023 at 08:49CBDT, Foreign Tax & Tax Research Division has issued vide F. No. 500/34/2019-FT&TR-III(Pt.)/1 dated July 26, 2023 issued clarification in respect of Rule 114F (5) of the Income Tax Rules, 1962.
CBDT Condones Delay in Filing Returns Claiming Deduction u/s 80P for AY 2018-19 to AY 2022-23
28 July 2023 at 08:48CBDT issued Circular No. 13/2023 dated July 26, 2023 regarding condonation of delay in filing returns of income claiming deduction under section 80P of the IT Act for various assessment years from AY 2018-19 to AY 2022-23.
FM Reveals 1 Lakh Notices Sent Over Under-Reported Income and Non-Filing of Returns
25 July 2023 at 14:21The Union Finance Minister, Nirmala Sitharaman, announced that the Centre has sent one lakh notices for non-filing of returns, under-reported income, and misrepresentation of income.
FM Nirmala Sitharaman presides over 164th Income Tax Day celebrations at New Delhi
25 July 2023 at 08:41The 164th anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India today.
Taxman Targets Salaried Individuals: Notices Issued for Exemption Proof
24 July 2023 at 08:43The Income Tax department is taking action by sending notices to individuals who have claimed exemptions under various sections of the Income Tax Act
IT Dept urges NRIs with inoperative PANs to submit NRI status and documents to respective AOs
22 July 2023 at 14:40The Income Tax Department (ITD) has requested NRIs with inoperative PANs to submit their NRI status and supporting documents to their respective Assessing Officers (AOs).
IT Rule 11UAC Amended to Encourage Relocation of Funds & Movable Property
20 July 2023 at 08:52The Income-tax (Thirteenth Amendment) Rules, 2023 were notified by the Central Board of Direct Taxes on 18th July 2023.
Bengaluru Employee's Tweets About High Taxes Prompt Calls for Reform
19 July 2023 at 15:18A Bengaluru-based e-commerce employee recently took to Twitter to vent his frustration about the high taxes he pays on his earnings and spendings.
Over 3 crore ITRs filed for FY 2022-23 as of 18th July 2023
19 July 2023 at 15:17As of July 18, 2023, over 3 crore income tax returns have been filed for the financial year 2022-23
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