Income Tax News
Income Tax Department introduces Angel Tax Rules for valuing investments in startups
27 September 2023 at 08:48The Income-tax (Twenty first Amendment), Rules, 2023, also known as the Angel Tax Rules, were notified by the Central Board of Direct Taxes (CBDT) on September 25, 2023.
Income Tax Department Urges Taxpayers to Address Past Tax Demands for Speedier Refunds
25 September 2023 at 09:00The Income Tax Department is making every effort to complete the processing of Income Tax Returns (ITRs) and issuance of refunds expeditiously
CBDT releases Excel-Based and MAC Utilities for AY 2023-24
25 September 2023 at 08:59Central Board of Direct Taxes (CBDT) has released Updated Utilities, Excel-based Utility and a MAC Utility for filing Income Tax Returns ITR 3, ITR 5, and ITR 6 for the Assessment Year (A.Y.) 2023-24.
CBDT releases Common Offline Utility for filing ITR 1, ITR 2, ITR 3 and ITR 4 for AY 2023-24
25 September 2023 at 08:58Central Board of Direct Taxes (CBDT) has released updated Common Offline Utility for filing Income Tax Returns ITR 1, ITR 2, ITR 3, and ITR 4 for the Assessment Year (A.Y.) 2023-24.
Income Tax Raids Lux Industries Over Rs 200 Crore Tax Evasion Allegation
23 September 2023 at 08:44Lux Industries, a company in the FMCG (Fast Moving Consumer Goods) sector, is currently undergoing a raid by the Income Tax Department in multiple locations, including Kolkata.
Income Tax Department Unveils New Tax Payment Summary Report on AIS Portal
22 September 2023 at 08:58Income Tax Department of India has recently introduced a new tax payment summary report, which is now accessible in the "Reports" section of the AIS portal
Income Tax Department Unveils New DSC Management Utility for Taxpayers
20 September 2023 at 08:47Income Tax Department has released the latest Digital Signature Certificate (DSC) Management Utility for taxpayers. The new utility is known as emBridge and it can be downloaded from the Income Tax website.
CBDT Extends Deadline for Filing Form 10B/10BB and Form ITR-7 for AY 2023-24
19 September 2023 at 08:50CBDT extends due date for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24
Gross Direct Tax Collections for FY 2023-24 Surge by 18.29%
19 September 2023 at 08:48The provisional figures of Direct Tax collections for the Financial Year 2023-24 show that net collections are at Rs. 8,65,117 crore, compared to Rs. 7,00,416 crore in the corresponding period of the preceding FY, representing an increase of 23.51%.
IT Raids Noida Real Estate Firm's Premises in Tax Evasion Probe
19 September 2023 at 08:47The Income Tax department conducted searches on the premises of a real estate developer called Orris Group and its linked companies in Noida and Greater Noida over suspected tax evasion.
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