Income Tax News

UIDAI waives online Aadhaar update fee

16 March 2023 at 08:44

The Unique Identification Authority of India has made document update facility online for Aadhaar free till June 14, an official statement said on Wednesday.Earlier, residents were required to pay Rs. 25 to update their documents on the Aadhaar porta

Posted in Income Tax | 14100 Views

Income Tax department sends Rs 549 crore tax demand notice to AWS

15 March 2023 at 08:45

The taxation department has approved a Rs 549 percent of the total tax summons to Amazon's corporation Amazon Web Service (AWS). Aws offers cloud storage.

Posted in Income Tax | 13032 Views

CBDT takes up e-Verification for 68,000 cases from FY 2019-20

14 March 2023 at 08:38

On a pilot basis, in about 68,000 cases, information of financial transactions pertaining to FY 2019-20 has been taken up for e-Verification

Posted in Income Tax | 9549 Views

Gross Direct Tax collections rises 22.58% to Rs 16.68 lakh crore up to 10th March

11 March 2023 at 17:04

The provisional figures of Direct Tax collections up to 10th March, 2023 continue to register steady growth. Direct Tax collections up to 10th March, 2023 show that gross collections are at Rs. 16.68 lakh crore

Posted in Income Tax | 2322 Views

IT department enabled new feature 'Comply to Notice' u/s 133(6) of IT Act 1961

11 March 2023 at 08:52

The Income Tax Department enabled the new feature 'Comply to Notice' that allows taxpayers to View and Submit Responses to Notices under section 133(6) of the Income Tax Act, 1961 ("the IT Act").

Posted in Income Tax | 77901 Views

IT department issued important update on Form 26AS and AIS

11 March 2023 at 08:50

The Income Tax Department has issued an update on Form 26AS and Annual information statement ("AIS") stating that from Assessment Year ("AY") 2023-24 onwards, Form 26AS display only TDS/TCS data.

Posted in Income Tax | 14955 Views

Centre releases Rs 1.40 lakh crore tax devolution amount to states

11 March 2023 at 08:48

Union Government releases 14th instalment of tax devolution to State Governments amounting to ₹1,40,318 crore to strengthen hands of States to accelerate their capital and developmental expenditure

Posted in Income Tax | 3021 Views

CBDT notified Insolvency and Bankruptcy Board of India for exemption u/s 10(46)

04 March 2023 at 08:43

CBDT vide Notification No. 09/2023 dated March 01, 2023 has notified Income Tax exemption to the Insolvency and Bankruptcy Board of India ("the IBB") under section 10(46) of the Income-tax Act, 1961 ("the IT Act")

Posted in Income Tax | 5280 Views

CBDT issues corrigendum w.r.t. ITR Forms for AY 2023-24

02 March 2023 at 08:35

CBDT has issued Corrigendum vide Notification No. 8/2023 dated February 28, 2023 to its Notification No. 04/2023 dated February 10, 2023 released to notify the new ITR forms applicable for the AY 2023-24

Posted in Income Tax | 7284 Views