The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards.
Infosys, the renowned IT services company, disclosed receiving a substantial tax demand from the Income Tax Department, amounting to Rs 341 crore for the assessment year 2020-21.
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. ..
The Income tax department has uncovered a sophisticated scam involving the fraudulent exploitation of PAN to claim HRA without actual tenancy.
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.
Offline Utilities for ITR-1, ITR-2, ITR-4 and ITR 6 for AY 2024-25 are available for filing
Excel Utilities of ITR-1, ITR-2 and ITR-4 for AY 2024-25 are available for filing
Clarification regarding applicability of new tax regime and old tax regime
The Income Tax Department has recently published the updated Tax Deducted at Source (TDS) Rate Chart for the Assessment Year 2025-26.
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
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