Income Tax News

Net Direct Tax collections rose over 45% to over Rs. 3.39 lakh crore for FY 2022-23

18 June 2022 at 06:38

Net Direct Tax collections rose over 45% to over Rs. 3.39 lakh crore for FY 2022-23, representing an increase of 45% over the collections of the preceding year.

Posted in Income Tax | 1 comments | 3990 Views

Income Tax Department conducts searches in J&K and Delhi

18 June 2022 at 06:38

Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading manufacturer and seller of Jamawar Shawls, Pashmina and Kashmiri Shawls.

Posted in Income Tax | 1548 Views

IT department issues revised instruction on action against taxpayers for high-pitched scrutiny assessment

17 June 2022 at 08:55

Revised Instruction for constitution and functioning of Local Committees to deal with taxpayers' grievances due to high-pitched Scrutiny Assessment

Posted in Income Tax | 5724 Views

CBDT issues guidelines for removal of difficulties under Section 194R

17 June 2022 at 08:55

Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961

Posted in Income Tax | 6789 Views

CBDT released Excel Offline Utility for ITR-5

15 June 2022 at 14:10

CBDT has released Excel Offline Utility dated June 14, 2022 for ITR-5.

Posted in Income Tax | 4377 Views

CBDT notifies 331 as Cost Inflation Index for FY 2022-23

15 June 2022 at 10:24

CBDT notifies Cost Inflation Index for FY 2022-23 at 331 vide Notification No. 62/2022-Income Tax dated: 14th June, 2022.

Posted in Income Tax | 17511 Views

IT Department aims to spread tax literacy among children through games, puzzles and comics

13 June 2022 at 08:53

CBDT has brought out products to introduce concepts related to taxation, often perceived to be complicated, to high school students through board Games, puzzles and comics.

Posted in Income Tax | 3339 Views

CBDT Chairman: Taxpayers base and ITRs rose for FY 2022

12 June 2022 at 09:13

The number of income tax returns has increased in FY22 over the previous fiscal, Central Board of Direct Taxes Chairman Sangeeta Singh said on Saturday.Talking to PTI, Ms Singh said the number of income tax returns last fiscal was 7.14 crore against

Posted in Income Tax | 3921 Views

Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961

10 June 2022 at 08:48

Section 206AB and 206CCA of the Income-tax Act,1961 (effective from 1st July 2021 and amended via Finance Act, 2022), imposed higher TDS/TCS rate on the "Specified Persons"

Posted in Income Tax | 5358 Views