Income Tax News
CBI Arrests Income Tax Principal Commissioner in Rs 10 Lakh Bribery Scandal
30 August 2024 at 14:03CBI chief in one of the biggest corruption sting operations arrested Principal Commissioner of Income Tax (Patna and Dhanbad) - Santosh Kumar and four others for receiving Rs 10 lakh in bribes.
Hindustan Unilever Hit with Rs 962.75 Crore Tax Notice Over Rs 3K Crore GSK Deal
29 August 2024 at 09:15Recently, one of the FMCG company giants of India, Hindustan Unilever Limited or HUL disclosed that they received a hefty tax demand, amounting to Rs 962.75 crore, including Rs 329. 33 crore in interest.
SIT on black money to submit interim report to Supreme Court within 15 days
29 August 2024 at 09:11The Supreme Court constituted Special Investigation Team (SIT) on black money will present the ninth interim report to the Supreme Court within 15 days, said the vice-chairman of the SIT, Justice retired Arijit Pasayat here on Monday.
FM Sitharaman Clarifies: No NPS Rollback, UPS Aims to Improve It
28 August 2024 at 17:41In a media briefing session held a few days ago, Union Finance Minister Nirmala Sitharaman shed more light on the newly rolled-out Unified Pension Scheme (UPS) to state that, the exercise of the scheme is in fact an optional one.
Non-Linked PANs Trigger Tax Demands, Putting Firms in a Tight Spot
27 August 2024 at 14:45Firms face challenges as the Income Tax Department issues demand notices for short deduction of tax due to unlinked PAN-Aadhaar.
Income Tax Return Statistics for AY 2023-24
27 August 2024 at 14:43The objective of publishing these statistics is to encourage wider use and analysis of Incometax data by Departmental personnel and academicians.
Rs 352 Crore Seized in India's Largest Income Tax Raid: Team Honored for 10-Day Operation
27 August 2024 at 08:58In a historic operation, the Income Tax Department conducted its largest-ever cash seizure last December, recovering a staggering Rs 352 crore from an Odisha-based distillery group.
FM Sitharaman: Increase in Tax Collections Reflect India's Growing Economic Formalization
23 August 2024 at 09:03FM Nirmala Sitharaman, presided over the 165th anniversary of Income Tax Day, observed by the Central Board of Direct Taxes (CBDT) in New Delhi.
Income Tax Department directs officers to focus on top 5,000 cases
23 August 2024 at 09:02In a significant move to bolster tax recovery and reduce litigation, the Income Tax Department has directed its officers to concentrate on the top 5,000 cases, which account for a staggering Rs 43 lakh crore in tax demand.
Income Tax Department Processes Nearly 4 Crore ITRs in Just 15 Days
22 August 2024 at 15:02In a remarkable feat of digitisation, the department has processed nearly 4 crore income tax returns (ITRs) for Assessment Year (AY) 2024-25 in just 15 days.
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