Income Tax News
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
Supreme Court Rules Salaries of Nuns and Priests in Aided Schools Are Subject to Income Tax
09 November 2024 at 07:00In a landmark judgment, the Supreme Court on Thursday upheld the Madras High Court's ruling that salaries paid to priests and nuns working as teachers in church-run, government-aided schools are subject to income tax.
Truecaller India Offices Face Income Tax Raids Amid Ongoing Compliance Checks
08 November 2024 at 06:39In a recent development, Truecaller, the Stockholm-based caller identification and spam-blocking app, confirmed that it is cooperating with Indian income tax authorities following raids on its offices in Noida, Mumbai and Bengaluru.
CBDT Considers Revamp of Income Tax Department Designations to Enhance Clarity and Transparency
07 November 2024 at 06:44CBDT is reportedly exploring a restructuring of designations within the Income Tax Department. This initiative aims to make roles more understandable for the public and create a transparent image of the department, aligning titles with responsibilities.
CBDT Sets New Limits for Interest Waiver under IT Act Section 220(2)
06 November 2024 at 06:41The Central Board of Direct Taxes (CBDT) issued Circular No. 15/2024 on November 4, 2024, defining monetary thresholds for income tax authorities regarding the waiver or reduction of interest under Section 220(2) of the Income-tax Act, 1961.
Income Tax Department Receives 6500 Stakeholder Suggestions for Overhaul of IT Act, 1961
05 November 2024 at 07:04The Income Tax Department has received a significant response from stakeholders, amassing 6,500 suggestions over the past month for the comprehensive review of the Income Tax Act, 1961.
Gujarat Among Top 5 in Income Tax Contributions, Collects Rs 3.46 Lakh Crore
05 November 2024 at 07:01Gujarat has solidified its position as one of India’s top contributors to income tax, with a remarkable cumulative collection of ₹3.46 lakh crore over the past five years, according to a recent report by the State Bank of India.
Commercial Tax Officer Arrested in Bengaluru for Bribery and Forged Identity Documents
04 November 2024 at 08:41In a significant operation, Lokayukta police have arrested a commercial tax officer from Division-5 in Koramangala, Bengaluru, for allegedly accepting a bribe. ..
Govt Likely to Delay Pillar-2 Tax Rules Citing Limited Revenue Benefit
02 November 2024 at 08:59India is adopting a cautious stance on implementing the OECD-led Pillar 2 tax regime, which mandates a 15% minimum corporate tax rate for multinational enterprises (MNEs) with global revenues exceeding €750 million.
India's Fiscal Deficit for April-September 2024 Marks 29.4% of FY25 Target
02 November 2024 at 08:54India's fiscal deficit for the first half of FY25 (H1FY25) was reported at ₹4.7 trillion, or 29.4% of the full-year Budget Estimate (BE) of ₹16.16 trillion, as per data from the Controller General of Accounts (CGA).
Popular News
- No Deduction of TDS Under IT Act 2025: Form 121 Rules for Individuals and Senior Citizens
- Maintenance of Books of Accounts Under Income Tax Act, 2025
- Income Tax Refund Rules Under Income Tax Act, 2025: How to Claim Excess Tax Paid
- HUF Tax Rules 2026: New Tax Regime Slabs, Surcharge and Partition Provisions
- Specified Senior Citizens: TDS Rules on Pension and Interest Income Under Income Tax Act, 2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
