Income Tax News
CBDT Notifies Income Tax Return Form ITR-6 for AY 2024-25
29 January 2024 at 09:05The Central Board of Direct Taxes (CBDT) has recently issued a crucial notification, marked as Notification No. 16/2024 on January 24, 2024.
Supreme Court: Assessing Officer Bears Burden to Rectify Defects in Tax Returns
26 January 2024 at 08:01The Supreme Court on Tuesday clarified that if a tax return is deemed defective, it is the responsibility of the assessing officer to inform the assessee and provide an opportunity for rectification.
IT Department Urges PAN Verification to Avoid Higher TDS/TCS Rates for Deductors
25 January 2024 at 17:35The Income Tax Department has released a crucial update directed towards deductors, underscoring the significance of verifying the PAN status of deductees.
IT department provides clarity on eligibility for deduction of donations to Ram Mandir u/s 80G
24 January 2024 at 09:23The Income Tax department has provided clarity on the eligibility of donations made towards the repair, rebuild, or renovation of the Ram Mandir in Ayodhya, administered by the Shri Ram Janmabhoomi Teerth Kshetra Trust.
CBDT releases key Direct Tax Statistics through Time-Series data
24 January 2024 at 09:21The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time.
CBDT Releases Circular Explaining Amendments Of Income-Tax Act Carried Out Through Finance Act, 2023
24 January 2024 at 09:19The Central Board of Direct Taxes (CBDT) has issued Circular No. 1/2024 on January 23, 2024, offering a detailed explanation of the provisions of the Finance Act, 2023.
Income Tax Notices Hit Insurers' Intermediaries for Alleged Fund Routing Violations Under Benami Law
23 January 2024 at 09:04In a new twist, insurers and their agents are now grappling with notices under the Benami Transactions (Prohibition) Amendment Act, 2016, following last year's run-ins with income and service tax authorities.
Income Tax Portal | 'Know Your Refund Status' Functionality Moved to Post-Login Mode
22 January 2024 at 09:11In a move aimed at improving user accessibility and providing enhanced insights, the Income Tax Department has recently revamped the placement of the "Know Your Refund Status" feature on the income tax e-filing portal.
Delhi High Court Halts NFRA Proceedings Against CA for Tax Deduction Claim Allegations
22 January 2024 at 09:08In a recent development, the Delhi High Court has intervened in a case involving a Chartered Accountant (CA) facing proceedings under the Companies Act for alleged professional misconduct.
Delhi High Court Discharges Income Tax Officer in Bribery Case, Citing Insufficient Evidence
19 January 2024 at 09:12The Delhi High Court has exonerated a senior income tax official who was facing graft charges lodged by the Central Bureau of Investigation (CBI).
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