Income Tax News
Income Tax Department Sends Alerts to 3 Million Taxpayers Over TDS-Refund Mismatch
01 January 2024 at 08:14The Income Tax (IT) department has escalated its scrutiny by sending alerts to approximately 3 million salaried taxpayers, drawing attention to disparities between Tax Deducted at Source (TDS) and refunds claimed in their revised tax returns.
Over 8.18 Crore ITRs Filed for AY 2023-24
30 December 2023 at 17:52In a groundbreaking achievement, the Income-tax Department has marked a historic milestone by receiving over 8 crore Income Tax Returns (ITRs) for the Assessment Year 2023-24, setting a new record and surpassing all previous filing statistics.Unveili
CBDT Issues Guidelines u/s 194-O of the Income-tax Act, 1961
29 December 2023 at 09:28Vide CBDT Circular No. 20/2023 dated 28.12.2023 guidelines have been issued for removal of difficulties and clarity has been provided on various issues pertaining to applicability of section 194-O
Income Tax Department Harnesses AI for Rs 36,000 Crore Recovery
29 December 2023 at 09:27The Income Tax Department has harnessed the power of data analytics and advanced technology to recover an impressive ₹36,000 crore from outstanding tax demands in the current fiscal year.
Year in Review 2023: CBDT's Citizen-Centric Initiatives
29 December 2023 at 09:23In the year 2023, the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, has taken many citizen-centric initiatives throughout the year.
Delhi HC Upholds Constitutional Validity of Section 115BBE of Income Tax Act
28 December 2023 at 14:53In a significant verdict, the Delhi High Court, led by Acting Chief Justice Manmohan and Justice Mini Pushkarna, has upheld the constitutional validity of Section 115BBE of the Income Tax Act.
Income Tax Dept Issues Clarification on Notices Sent to Taxpayers Who Already Filed ITR
27 December 2023 at 15:08The Income Tax Department has released a clarification on the social media platform 'X' (formerly known as Twitter), addressing concerns and questions surrounding notices sent to individuals who have already filed their income tax returns (ITRs).
Zydus Healthcare Faces Rs 285 Crore Income Tax Demand
27 December 2023 at 09:25Indian pharmaceutical major Zydus Life revealed that its wholly-owned subsidiary, Zydus Healthcare Limited (ZHL), has received an Income Tax demand of Rs 284.58 crore
IT Dept uses fine-tooth comb to nab both employers & employees for TDS claims mismatch
27 December 2023 at 09:23In a bid to ensure accurate tax compliance, the Income Tax department is intensifying its efforts to reconcile discrepancies between the tax deducted at source (TDS) by companies and the declarations made by employees in their annual I-T returns.
Income Tax Department Emphasizes Adherence to Conduct Rules Amidst Vigilance Exercise
25 December 2023 at 09:21Income Tax Department has reiterated its commitment to maintaining the highest standards of ethical conduct among its officers and officials.
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