Income Tax News
Credit card payments on foreign tours to be brought under LRS to ensure compliance with TCS
27 March 2023 at 08:38Credit 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).
IT Department sends Rs 8 crore recovery notice to a labourer in Bulandshahr
21 March 2023 at 08:41In 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.
Income Tax Department launches AIS App for Taxpayers
17 March 2023 at 08:46The Income Tax Department has launched a Mobile app for Taxpayers to view Annual Information Statements (AIS).
UIDAI waives online Aadhaar update fee
16 March 2023 at 08:44The 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
Income Tax department sends Rs 549 crore tax demand notice to AWS
15 March 2023 at 08:45The 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.
CBDT takes up e-Verification for 68,000 cases from FY 2019-20
14 March 2023 at 08:38On a pilot basis, in about 68,000 cases, information of financial transactions pertaining to FY 2019-20 has been taken up for e-Verification
Gross Direct Tax collections rises 22.58% to Rs 16.68 lakh crore up to 10th March
11 March 2023 at 17:04The 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
IT department enabled new feature 'Comply to Notice' u/s 133(6) of IT Act 1961
11 March 2023 at 08:52The 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").
IT department issued important update on Form 26AS and AIS
11 March 2023 at 08:50The 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.
Centre releases Rs 1.40 lakh crore tax devolution amount to states
11 March 2023 at 08:48Union Government releases 14th instalment of tax devolution to State Governments amounting to ₹1,40,318 crore to strengthen hands of States to accelerate their capital and developmental expenditure
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