Income Tax News

Over 60% of Taxpayers adopt New Income Tax Regime

04 January 2024 at 09:00

Robust Growth in Tax Returns and Collections Signals Success of New Income Tax Regime

Posted in Income Tax | 6183 Views

Income Tax Department Releases Latest Excel-Based Utility for ITR-1 to ITR-7

03 January 2024 at 09:16

The Income Tax Department has recently launched an updated Excel-based utility for filing Income Tax Returns (ITR).

Posted in Income Tax | 7587 Views

ITR-U Enabled on Income Tax Portal for AY 2023-2024

02 January 2024 at 09:09

Income Tax Department Facilitates Seamless E-Filing: ITR-U Now Available on the Portal for AY 2023-2024 (FY 2022-2023)

Posted in Income Tax | 4761 Views

Income Tax Department Sends Alerts to 3 Million Taxpayers Over TDS-Refund Mismatch

01 January 2024 at 08:14

The Income Tax (IT) department has escalated its scrutiny by sending alerts to approximately 3 million salaried taxpayers, drawing attention to disparities between Tax Deducted at Source (TDS) and refunds claimed in their revised tax returns.

Posted in Income Tax | 8676 Views

Over 8.18 Crore ITRs Filed for AY 2023-24

30 December 2023 at 17:52

In a groundbreaking achievement, the Income-tax Department has marked a historic milestone by receiving over 8 crore Income Tax Returns (ITRs) for the Assessment Year 2023-24, setting a new record and surpassing all previous filing statistics.Unveili

Posted in Income Tax | 3510 Views

CBDT Issues Guidelines u/s 194-O of the Income-tax Act, 1961

29 December 2023 at 09:28

Vide CBDT Circular No. 20/2023 dated 28.12.2023 guidelines have been issued for removal of difficulties and clarity has been provided on various issues pertaining to applicability of section 194-O

Posted in Income Tax | 3417 Views

Income Tax Department Harnesses AI for Rs 36,000 Crore Recovery

29 December 2023 at 09:27

The Income Tax Department has harnessed the power of data analytics and advanced technology to recover an impressive ₹36,000 crore from outstanding tax demands in the current fiscal year.

Posted in Income Tax | 6000 Views

Year in Review 2023: CBDT's Citizen-Centric Initiatives

29 December 2023 at 09:23

In the year 2023, the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, has taken many citizen-centric initiatives throughout the year.

Posted in Income Tax | 5301 Views

Delhi HC Upholds Constitutional Validity of Section 115BBE of Income Tax Act

28 December 2023 at 14:53

In a significant verdict, the Delhi High Court, led by Acting Chief Justice Manmohan and Justice Mini Pushkarna, has upheld the constitutional validity of Section 115BBE of the Income Tax Act.

Posted in Income Tax | 2430 Views

Income Tax Dept Issues Clarification on Notices Sent to Taxpayers Who Already Filed ITR

27 December 2023 at 15:08

The Income Tax Department has released a clarification on the social media platform 'X' (formerly known as Twitter), addressing concerns and questions surrounding notices sent to individuals who have already filed their income tax returns (ITRs).

Posted in Income Tax | 8346 Views