Income Tax News
Zydus Wellness Subsidiary Hit with Rs 10.51 Million Tax Demand in Bihar, Stock Prices Decline
20 September 2024 at 09:18Zydus Wellness Limited announced that its wholly-owned subsidiary, Zydus Wellness Products Limited (ZWPL), has received a tax demand of ₹10.51 million from Bihar state tax authorities.
Finance Ministry Fast-Tracks Income Tax Act Review, Targets January 2025 Deadline
20 September 2024 at 09:12The Finance Ministry is accelerating efforts to review and simplify the Income Tax Act, 1961, with a target completion date of January 2025, ahead of the Union Budget in February, sources familiar with the matter revealed.
Indian Overseas Bank Receives Rs 123.87 Crore Income Tax Refund for AY 2021-22
20 September 2024 at 09:08In a significant financial development, public sector lender Indian Overseas Bank (IOB) announced on Thursday, September 19, that it has received an order from the Income Tax Department confirming a refund of ₹123.87 crore.
Net Direct Tax Collections Surge 21.48% YoY, Reach Rs 12.01 Lakh Crore by September 2024
19 September 2024 at 14:43For the period from April to September 2024, gross direct tax collections have reached Rs 12.01 lakh crore, a significant rise from Rs 9.88 lakh crore collected during the same period in 2023.
FM Sitharaman Launches NPS Vatsalya: New Pension Scheme for Parents to Secure Children's Future
19 September 2024 at 08:59Union Finance Minister Smt. Nirmala Sitharaman launches NPS Vatsalya in New Delhi
Income Tax Department Raises Threshold for Filing Appeals in Tribunals and Courts
18 September 2024 at 14:40In accordance with the latest circular from the Income Tax Department, it has raised the minimum threshold for filing appeals to the Income Tax Appellate Tribunal (ITAT) and the High Courts and Supreme Court.
FM Sitharaman Confirms No Tax Rate Reductions for Old Tax Regime
17 September 2024 at 11:25In a recent address at an event, Finance Minister Nirmala Sitharaman reaffirmed that the government will not be reducing tax rates under the old tax regime. This statement comes in response to ongoing calls from taxpayers for similar rate reductions
3 Mumbai Businessmen Arrested in GST Fraud: Fake ITC Claims via 8 Shell Companies
16 September 2024 at 09:07In a major crackdown on fraudulent Input Tax Credit (ITC) claims, the Central Goods and Services Tax (CGST) Palghar Commissionerate has uncovered a fake ITC racket amounting to Rs. 59.11 crore.
TCS Employees Receive Income Tax Demand Notices Over TDS Claims
14 September 2024 at 09:20Employees of Tata Consultancy Services (TCS) have recently been issued tax demand notices by the Income Tax Department over discrepancies in their Tax Deducted at Source (TDS) claims.
Virat Kohli Emerges as Highest Tax-Paying Indian Sportsperson for FY 2023-24, Dhoni and Tendulkar in Top 3
05 September 2024 at 09:20According to a recent report, Virat Kohli leads the pack as the highest tax-paying Indian sportsperson for the financial year 2023-24, contributing a staggering Rs 66 crore to the government.
Popular News
- GST Rate Changes from 1st Nov 2026: Check New ITC and RCM Rules
- PM Modi's Rs 12 Lakh Tax Relief Remark Sparks Debate Over Taxpayers' Rights
- CBDT Clarifies Tax Treatment of BSNL and MTNL VRS-2019 Compensation Under Section 10(10C)
- GST Portal e-Invoice Services to Remain Temporarily Unavailable on 31st Oct and 1st Nov 2026
- TDS Challan for FY 2025-26 Valid for TY 2026-27 Under Cross-Year Utilisation Rules
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
