Income Tax News

IT raids on conglomerate unearthed unaccounted transactions exceeding Rs.1000 crore

03 August 2022 at 08:48

The Income Tax Department carried out a search and seizure operation on 20.07.2022 on a prominent business conglomerate engaged in diversified fields of Textiles, Chemicals, Packaging, Real estate and Education.

Posted in Income Tax | 6432 Views

New record of over 72.42 lakh (7.24m) ITRs filed on a single day

02 August 2022 at 08:43

The Department expresses its gratitude to taxpayers and tax professionals for making compliances in time leading to a surge in filing of Income Tax Returns (ITRs) resulting in a new record of ITRs filed on a single day.

Posted in Income Tax | 3 comments | 7005 Views

Time limit for verification reduced to 30 days for return filed after 1st Aug

01 August 2022 at 11:31

Reduction of time limit for verification of Income Tax Return (ITR) from within 120 days to 30 days of transmitting the data of ITR electronically

Posted in Income Tax | 17175 Views

IT Department conducts search operation on two business groups in Tamil Nadu

29 July 2022 at 09:00

Income Tax Department carried out a search and seizure operation on 20.07.2022 on two business groups; one engaged in real estate, and the other in contracts related to road and railway construction.

Posted in Income Tax | 1848 Views

CBDT lays down procedure of PAN application & allotment through simplified proforma for incorporating LLPs electronically

28 July 2022 at 08:42

Procedure of PAN application & allotment through Simplified Proforma for incorporating Limited Liability Partnerships (LLPs) electronically {Form: FiLLiP} of Ministry of Corporate Affairs.

Posted in Income Tax | 3921 Views

CBDT observed 163rd anniversary of Income Tax

25 July 2022 at 08:28

The 163rd anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India today. As part of the celebrations, the field formations held a number of events and activities.

Posted in Income Tax | 3615 Views

Centre not considering extension of ITR filing deadline: Revenue Secretary

23 July 2022 at 08:30

The government is not extending the last date for filing as it expects most returns to come in by the due date of July 31.

Posted in Income Tax | 3 comments | 5667 Views

CBDT releases E-Brochure for individual taxpayers

22 July 2022 at 08:44

CBDT Issues E-Brochure "Everything about e-filing made easier"

Posted in Income Tax | 7332 Views

CBDT | Specifying Forms, returns to be furnished electronically

19 July 2022 at 08:31

Specifying Forms, returns, statements, reports, orders, by whatever name called, prescribed in Appendix-ll to be furnished electronically under sub-rule (1) and sub-rule (2) of Rule 131 of the Income-tax Rules, 1962

Posted in Income Tax | 4071 Views

Kotak Mahindra Bank becomes first to integrate with new Income Tax portal

18 July 2022 at 08:29

Kotak Mahindra Bank has completed technical integration with the new e-filing portal of the Income Tax department and has become the first private bank to fully integrate with the portal.

Posted in Income Tax | 6936 Views