Income Tax News

New Tax Regime Will Leave Higher Disposable Income: FM Nirmala Sitharaman

11 February 2023 at 08:36

Union Finance Minister Nirmala Sitharaman on Friday said the new tax regime will leave higher disposable income in the hands of people.

Posted in Income Tax | 4749 Views

CBDT issued corrigendum explaining amendments made in direct tax laws vide Finance Act 2022

08 February 2023 at 08:48

CBDT has issued Corrigendum dated February 06, 2023 to Circular No. 23 of 2022 dated November 03, 2022 on the Explanatory Notes to the Finance Act 2022 regarding the amendments made in direct tax laws vide Finance Act, 2022

Posted in Income Tax | 5679 Views

Taxpayers aged between 18 to 35 years filed 2,09,06,829 ITRs till 31st Jan 2023

07 February 2023 at 08:38

For individual taxpayers between the age of 18 to 35 years, 2,09,06,829 ITRs filed, and Rs 93,318 crore paid in gross taxes, before claim of refund, during FY 2022-23 till 31st January 2023

Posted in Income Tax | 5466 Views

Direct tax collection stands at Rs. 14.71 lakh crore, records 24.58% growth

12 January 2023 at 08:36

Gross collections at Rs. 14.71 lakh crore 24.58% higher than the corresponding period of last year

Posted in Income Tax | 3732 Views

CBI arrests Chennai Income Tax officer and CA in a bribery case

09 January 2023 at 08:31

The CBI has arrested an Income Tax officer and a chartered accountant in Chennai for their alleged involvement in a Rs 2.25 lakh bribery case, officials said on Saturday.

Posted in Income Tax | 5445 Views

CBDT extends time limit for compliance to be made for claiming any exemption u/s 54 to 54GB in view of COVID-19

07 January 2023 at 08:41

CBDT on January 06, 2023, issued a notification regarding the Extension of the time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the IT Act,1961 ('Act') in view of the then-Covid-19 pandemic.

Posted in Income Tax | 10845 Views

IT officer held for seeking Rs 10K bribe sent to 2-day CBI remand by Mumbai court

07 January 2023 at 08:39

A special court here on Thursday remanded an income tax officer to two-day custody of the CBI after he was arrested for allegedly demanding a bribe of Rs 10,000 for cancelling a PAN (permanent account number) card of a Mumbai resident.

Posted in Income Tax | 5232 Views

IT officials conducts searches at 20 locations across Telangana

05 January 2023 at 08:39

Income Tax officials are conducting searches at 20 locations across Telangana regarding discrepancies in rubber import-export and irregularities in tax payment.

Posted in Income Tax | 2718 Views