Income Tax News
CBDT Approves Central Power Research Institute for Tax Benefits under Income Tax Act, 1961
16 January 2025 at 08:49In a significant move, the Central Government has granted approval to the Central Power Research Institute (CPRI), Bengaluru, under the category of "Research Association" for "Scientific Research" as per Section 35(1)(ii) of the Income Tax Act, 1961.
Net Direct Tax Collections Jump 15.88% to Rs 16.90 Lakh Crore in FY 2024-25
15 January 2025 at 07:58According to the latest data, net direct tax collections, after refunds, have increased by 15.88%, reaching ₹16,89,928 crore.
Centre Releases Rs 1.73 Lakh Crore Tax Devolution to States for Development
13 January 2025 at 08:46Union Government releases tax devolution of ₹1,73,030 crore to State Governments to accelerate capital spending and finance their development and welfare-related expenditures
Income Tax Inspector Under CBI Lens for Alleged Bribery in DIT Relief Processing
13 January 2025 at 08:46The Central Bureau of Investigation (CBI) has launched an investigation into allegations of corruption involving an income tax inspector from the International Taxation Circle, Mumbai, and an employee of a private shipping company.
Simplified Income-Tax Act Set to Launch in Budget 2025
13 January 2025 at 08:46The much-anticipated overhaul of the Income-Tax Act, 1961, is likely to be presented during the Budget session of Parliament on February 1, 2025.
IT Department Releases Common Offline Utility for Filing ITR 1 to ITR 4 for AY 2024-25
10 January 2025 at 09:08The Income Tax Department has rolled out the latest versions of its Common Offline Utility for filing Income Tax Returns (ITR) 1, 2, 3, and 4 for the Assessment Year (AY) 2024-25.
Shri Tuhin Kanta Pandey Assumes Charge as Revenue Secretary, Ministry of Finance
10 January 2025 at 08:54The current Finance Secretary, Shri Tuhin Kanta Pandey, took charge as the Secretary, Department of Revenue (DoR), Ministry of Finance, in forenoon today.
Income Tax Department Launches 24x7 Control Room to Monitor Unaccounted Cash and Valuables Ahead of Delhi Assembly Elections 2025
09 January 2025 at 09:04Income Tax Department sets up 24x7 Control Room with Toll Free Number to vigil on movement of unaccounted cash, bullion & other valuables to ensure clean and fair Delhi Legislative Assembly Elections, 2025
CBDT Notifies Exemption for IFSC Units from Section 206C(1H) Tax Collection Under Income-tax Act
09 January 2025 at 08:49CBDT has issued a key update via Notification No. 6/2025 dated January 6, 2025, exempting Units of IFSC from being treated as buyers under Section 206C(1H) of the Income-tax Act, 1961.
Income Tax Department Releases Updated Excel-Based Utility for ITR-2 and ITR-3
07 January 2025 at 09:09The Income Tax Department has released the latest Excel-based Utility Version 1.8 for filing Income Tax Returns (ITR-2 and ITR-3), ensuring a smoother and more efficient e-filing process for taxpayers.
Popular News
- ED Files Chargesheet in Rs 734 Crore GST ITC Fraud Case
- GST Officers Leaking Return Data to Rivals for Money, Alleges Gujarat CA Group
- ICAI Moves Toward Lifting CA Advertising Ban for Global Competitiveness
- ICAI Issues FAQs on Guidance Note on Financial Statements for Non-Corporate Entities
- GSTN Clarifies Table 12A Issue in GSTR-1 for B2C Transactions
Trending Online Classes
CAclubindia
