Income Tax News
IT dept warns taxpayers of a fake profile posing as income tax customer care
08 December 2022 at 08:38This profile/number, which is posing as Income Tax Department Support/Customer Care, is FAKE. Please do not call the said number or respond to any calls or communication from it asking you to share your personal, financial, or other sensitive information.
ITR of deceased can be considered computing annual income for grant of motor accident compensation
07 December 2022 at 09:40The Supreme Court on Tuesday (6th Dec 2022) ruled that, while calculating annual income for grant of motor accident compensation, the courts can consider the Income Tax Return of the deceased.
IT Department issues updated list of banks for tax payments
03 December 2022 at 08:39List of banks for tax payments available at e-Pay Tax service at e-Filing Portal and OLTAS ePayment of Taxes at Protean (previously NSDL)
IT department moves to resolve tax refund issues quickly
02 December 2022 at 08:39The income-tax department has issued instructions to ensure taxpayer grievances about adjustment of tax dues against pending refunds are resolved quickly to check avoidable litigation.
About Rs 400 crore tax deposited by filing updated ITRs so far
25 November 2022 at 08:41The recently introduced provision of allowing taxpayers to update their tax returns has seen as many as 5 lakh re-filings with about ₹400 crore additional tax coming in, a senior government official said on Thursday.
Verify Aadhaar before accepting it as a proof of identity: UIDAI
24 November 2022 at 16:48Before accepting an Aadhaar either in physical or electronic form for establishing identity of an individual, entities should verify the Aadhaar.
IT department conducts 40 raids across Tamil Nadu alleging tax evasion
24 November 2022 at 08:41The Income Tax department started to conduct surprise raids on goods suppliers to Public Distribution System (PDS) shops in Tamil Nadu on Wednesday.
IT Dept detects unaccounted transactions exceeding Rs. 100 crore in Bihar
23 November 2022 at 08:49Income Tax Department initiated a Search & Seizure action on few groups engaged in the business of gold & diamond jewellery and real estate, on 17.11.2022.
Petitioner seeks tax exemption for persons earning below Rs 8 lakh, citing EWS criteria
23 November 2022 at 08:49Kunnur Seenivasan, a Dravida Munnetra Kazhagam (DMK) functionary, has filed a petition with the Madurai Bench of the Madras High Court on the ground of the recent Supreme Court ruling regarding the Economically Weaker Section (EWS) reservation. Seeni
Several FPIs, AIFs get tax notice for errors in returns
22 November 2022 at 08:34The Income Tax Department has sent notices to dozens of foreign portfolio investors (FPIs) and alternative investment funds (AIFs), flagging discrepancies in their tax returns.
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