Income Tax News
Tax Evasion on the Rise as 23% of Transactions Are Tracked, Says Chief Commissioner of IT
15 November 2024 at 06:36In a significant statement, Sanjay Rai, the Chief Commissioner of Income Tax, Madurai, revealed that the Income Tax Department currently captures only 23% of the total transactions occurring across the country.
Two Senior IRS Officers Appointed to Key Roles in CBIC
15 November 2024 at 06:36The Appointments Committee of the Cabinet has approved the following appointments to the posts of Member, Central Board of Indirect Taxes and Customs
Direct Tax Code Overhaul Expected in Budget 2025 to Cut Litigation and Simplify Compliance
14 November 2024 at 09:26As the Union Budget 2025 approaches, the CBDT is reportedly focused on introducing a streamlined version of India’s income tax laws.
CBDT Grants Tax Exemption to Petroleum and Natural Gas Regulatory Board Effective from AY 2024-25
14 November 2024 at 06:41On November 12, 2024, the Central Board of Direct Taxes (CBDT) issued a notification granting tax-exempt status to the Petroleum and Natural Gas Regulatory Board (PNGRB) under section 10(46A)(b) of the Income-tax Act, 1961.
Income Tax Department Cracks Down on Bogus Refund Claims, Sends Notices to Taxpayers
13 November 2024 at 06:36The Income Tax Department has intensified scrutiny on dubious tax refund claims for the assessment years 2021-22 and 2022-23, issuing notices to multiple taxpayers across the country.
Centre Likely to Retain Direct Tax Revenue Estimates in Revised Projections
12 November 2024 at 05:58As per sources within the Finance Ministry, the Centre is likely to maintain its original budgeted estimate of ₹22.07 lakh crore for direct tax collection when it revises estimates in February.
Finance Ministry Highlights Digital Innovations in RRBs, Urges Expansion of Customer-Centric Services
11 November 2024 at 06:44Focus of the meeting was business performance, upgrading digital technology services, and fostering business growth in activities allied to agriculture and micro and small industry
CII Urges Tax Reforms and Increased Capital Investment in Union Budget 2025-26
11 November 2024 at 06:44In a pre-Budget meeting with Revenue Secretary Sanjay Malhotra, the Confederation of Indian Industry (CII) urged the government to continue tax reforms and boost capital expenditure in the Union Budget for 2025-26.
Industry Bodies Urge Finance Ministry to Simplify TDS Rates in Union Budget 2025
11 November 2024 at 06:44In anticipation of the Union Budget 2025, leading industry bodies have urged the finance ministry to streamline the tax deducted at source (TDS) structure, aiming to reduce the compliance burden and minimize litigation for taxpayers, as per reports.
Supreme Court Revives Rs 20,000 to 23,000 Crore in DRI Tax Notices Against Leading Companies
09 November 2024 at 07:02On Thursday, the Supreme Court of India reinstated tax notices worth an estimated ₹20,000-23,000 crore issued by the Directorate of Revenue Intelligence (DRI) to several major corporations, including Vedanta Ltd, Vodafone Idea Ltd, Adani Enterprises
Popular News
- ICAI Introduces UDIN Ceiling & Field-Level Validation for Section 44AB Tax Audits from 1st April 2026
- Draft Form 124 Proposes Mandatory Disclosure of Relationship With Landlord for HRA Claims
- ICAI: UDIN Validation Now Based on Five Parameters Including PAN
- MCA Launches Companies Compliance Facilitation Scheme 2026 with Major Relief on Late Filing Fees
- ICAI Reprimands CA for Filing Unsigned Financial Statements with MCA in AOC-4
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani -
IDT LIVE Exam Oriented Batch | May 2026, Sept 2026 & Jan 2027
CA Arpita Tulsyan
CAclubindia
