Income Tax News

Colgate Palmolive Faces Rs 170 Crore Transfer Pricing Order in Tax Dispute

01 November 2023 at 14:28

Colgate Palmolive (India) Faces Rs 170 Crore Transfer Pricing Order from Income Tax Authorities for International Transactions

Posted in Income Tax | 3534 Views

Income Tax Department Launches Extensive Profiling of HNIs to Combat Tax Evasion

01 November 2023 at 08:58

In a bid to curb tax evasion, the Income Tax Department is set to take strict action against high-net-worth individuals (HNIs) who underreport their incomes, despite recent tax rate reductions.

Posted in Income Tax | 15489 Views

Bombay High Court Issues Stern Warning to IT Assessing Officers for Delayed Assessment Orders

31 October 2023 at 08:49

In a recent development, the Bombay High Court has expressed strong disapproval of the functioning of income tax (IT) assessing officers and their handling of delayed assessment orders.

Posted in Income Tax | 5778 Views

Income Tax Department Launches 360-Degree Profiling of HNI Tax Evaders

27 October 2023 at 08:53

The Income Tax Department is all set to crack down on high net worth individuals (HNIs) who underpay their taxes.

Posted in Income Tax | 23583 Views

Teacher Falls Victim to PAN Card Update Scam, Loses Rs 3.82 Lakh

27 October 2023 at 08:50

A 36-year-old preschool teacher in Mira Road lost over ₹3.82 lakhs to cybercrooks who posed as bank officials.

Posted in Income Tax | 6351 Views

Condonation of Delay for Form No. 10-IC Filing in AY 2021-22 u/s 119(2)(b)

24 October 2023 at 08:11

CBDT issued Circular No. 19/2023 dated October 23, 2023 regarding the condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC for the Assessment Year 2021-22.

Posted in Income Tax | 5409 Views

Income Tax Department Exposes Rs 1200 Crore Tax Evasion Scheme Involving Jagathrakshakan and Saveetha Groups

24 October 2023 at 08:09

Massive Income Tax Raids Reveal Staggering Financial Irregularities Linked to DMK MP S Jagathrakshakan and Saveetha Educational Group

Posted in Income Tax | 4491 Views

CBDT Introduces Form No. 56F for Assessees Seeking Deduction u/s 10AA of IT Act

21 October 2023 at 08:02

The Central Board of Direct Taxes (CBDT) issued Notification No. 91/2023 on October 19, 2023, introducing a new Rule 16D into the Income-tax Rules, 1962.

Posted in Income Tax | 43245 Views