Income Tax News

TDS on all winnings from online gaming to come into effect from 1st April

27 March 2023 at 08:38

The TDS or tax deducted at source on online gaming applications will now be effective from 1 April, 2023 as against an earlier provision of 1 July, 2023.

Posted in Income Tax | 6606 Views

Credit card payments on foreign tours to be brought under LRS to ensure compliance with TCS

27 March 2023 at 08:38

Credit card payments for foreign travel will be brought under Reserve Bank’s Liberalised Remittance Scheme (LRS) to ensure that such expenses do not escape TCS (Tax Collection at Source).

Posted in Income Tax | 5265 Views

IT Department sends Rs 8 crore recovery notice to a labourer in Bulandshahr

21 March 2023 at 08:41

In a shocking incident, the Income Tax department sent a notice to a labour for recovery of Rs 8 crores. The person, who is a labour by profession, is a native of Bulandshahr in Uttar Pradesh.

Posted in Income Tax | 7917 Views

Income Tax Department launches AIS App for Taxpayers

17 March 2023 at 08:46

The Income Tax Department has launched a Mobile app for Taxpayers to view Annual Information Statements (AIS).

Posted in Income Tax | 14607 Views

UIDAI waives online Aadhaar update fee

16 March 2023 at 08:44

The Unique Identification Authority of India has made document update facility online for Aadhaar free till June 14, an official statement said on Wednesday.Earlier, residents were required to pay Rs. 25 to update their documents on the Aadhaar porta

Posted in Income Tax | 14070 Views

Income Tax department sends Rs 549 crore tax demand notice to AWS

15 March 2023 at 08:45

The taxation department has approved a Rs 549 percent of the total tax summons to Amazon's corporation Amazon Web Service (AWS). Aws offers cloud storage.

Posted in Income Tax | 13011 Views

CBDT takes up e-Verification for 68,000 cases from FY 2019-20

14 March 2023 at 08:38

On a pilot basis, in about 68,000 cases, information of financial transactions pertaining to FY 2019-20 has been taken up for e-Verification

Posted in Income Tax | 9492 Views

Gross Direct Tax collections rises 22.58% to Rs 16.68 lakh crore up to 10th March

11 March 2023 at 17:04

The provisional figures of Direct Tax collections up to 10th March, 2023 continue to register steady growth. Direct Tax collections up to 10th March, 2023 show that gross collections are at Rs. 16.68 lakh crore

Posted in Income Tax | 2289 Views

IT department enabled new feature 'Comply to Notice' u/s 133(6) of IT Act 1961

11 March 2023 at 08:52

The Income Tax Department enabled the new feature 'Comply to Notice' that allows taxpayers to View and Submit Responses to Notices under section 133(6) of the Income Tax Act, 1961 ("the IT Act").

Posted in Income Tax | 77859 Views

IT department issued important update on Form 26AS and AIS

11 March 2023 at 08:50

The Income Tax Department has issued an update on Form 26AS and Annual information statement ("AIS") stating that from Assessment Year ("AY") 2023-24 onwards, Form 26AS display only TDS/TCS data.

Posted in Income Tax | 14883 Views