Income Tax News

CBDT Sets 30-Day Verification Deadline for Income Tax Returns from 1st April 2024

03 April 2024 at 09:02

CBDT has issued a significant notification, No. 2 of 2024, dated March 31, 2024, pertaining to the time limit for verifying income tax returns after uploading. ..

Posted in Income Tax | 7068 Views

Income Tax Department Unearths Massive PAN Misuse in Fake HRA Claims

02 April 2024 at 09:13

The Income tax department has uncovered a sophisticated scam involving the fraudulent exploitation of PAN to claim HRA without actual tenancy.

Posted in Income Tax | 11742 Views

ITR-1, ITR-2 and ITR-4 Now Offer Online Filing with Prefilled Data on Income Tax Portal

01 April 2024 at 09:19

The Income Tax Department has introduced a significant enhancement to the online filing process for Income Tax Returns (ITRs) by enabling ITR-1, ITR-2, and ITR-4 with prefilled data on the income tax portal.

Posted in Income Tax | 972 Views

Offline Utilities for AY 2024-25 Now Accessible for ITR-1, ITR-2, ITR-4 and ITR-6

01 April 2024 at 09:19

Offline Utilities for ITR-1, ITR-2, ITR-4 and ITR 6 for AY 2024-25 are available for filing

Posted in Income Tax | 549 Views

ITR-1, ITR-2 and ITR-4 Excel Utilities for AY 2024-25 Released

01 April 2024 at 09:17

Excel Utilities of ITR-1, ITR-2 and ITR-4 for AY 2024-25 are available for filing

Posted in Income Tax | 2565 Views

Finance Ministry Clarifies on Misleading Information Related to New Tax Regime Spread on Social Media Platforms

01 April 2024 at 09:16

Clarification regarding applicability of new tax regime and old tax regime

Posted in Income Tax | 4773 Views

Updated TDS Rate Chart for FY 2024-25 (AY 2025-26)

28 March 2024 at 09:10

The Income Tax Department has recently published the updated Tax Deducted at Source (TDS) Rate Chart for the Assessment Year 2025-26.

Posted in Income Tax | 3 comments | 21066 Views

CBDT Unveils Revised Form ITR-V for Unverified E-Filed Tax Returns for AY 2024-25

28 March 2024 at 09:09

Changes in ITR form V and Acknowlegement for A.Y 2024 25 as per the amemdments in the provisions of the Income tax Act, 1961 and In the Income tax Rules, 1962 in consequence of the Finance Act, 2023

Posted in Income Tax | 4884 Views

Exporters Seek Exemption from 45-Day Payment Rule Impacting MSMEs

25 March 2024 at 07:25

The Indian export sector, representing a significant portion of the nation's economy, is facing a critical challenge due to a recent regulation mandating the clearance of outstanding invoices owed to micro and small enterprises within 45 days

Posted in Income Tax | 3981 Views

Income Tax Department issued Instructions to AOs for initiating proceedings u/s 147 of IT Act in e-Verification cases

22 March 2024 at 09:16

The Directorate of Income Tax (Systems) released e-Verification Instruction No. 2 (i) of 2024 on March 19, 2024.

Posted in Income Tax | 7404 Views