Income Tax News

Siemens Hit with Rs 29.4 Crore Tax Demand from Income Tax Department

02 September 2024 at 08:58

Technology giant Siemens Ltd announced on Friday, August 30, that it has received a new tax demand order from the Deputy Commissioner of Income Tax, Circle 8(2)(1), amounting to approximately ₹29.4 crore. This demand was disclosed in a stock exchange

Posted in Income Tax | 630 Views

CBDT rolls out Dispute Resolution Scheme (e-DRS) 2022 to minimise litigation

31 August 2024 at 09:08

In pursuance of section 245MA in the Income-tax Act, 1961 (hereinafter referred to as "the Act"), the CBDT notified the e-Dispute Resolution Scheme, 2022 (e-DRS) with the aim to reduce litigation and provide relief to eligible taxpayers.

Posted in Income Tax | 3060 Views

CBI Arrests Income Tax Principal Commissioner in Rs 10 Lakh Bribery Scandal

30 August 2024 at 14:03

CBI chief in one of the biggest corruption sting operations arrested Principal Commissioner of Income Tax (Patna and Dhanbad) - Santosh Kumar and four others for receiving Rs 10 lakh in bribes.

Posted in Income Tax | 1 comments | 4674 Views

Hindustan Unilever Hit with Rs 962.75 Crore Tax Notice Over Rs 3K Crore GSK Deal

29 August 2024 at 09:15

Recently, one of the FMCG company giants of India, Hindustan Unilever Limited or HUL disclosed that they received a hefty tax demand, amounting to Rs 962.75 crore, including Rs 329. 33 crore in interest.

Posted in Income Tax | 798 Views

SIT on black money to submit interim report to Supreme Court within 15 days

29 August 2024 at 09:11

The Supreme Court constituted Special Investigation Team (SIT) on black money will present the ninth interim report to the Supreme Court within 15 days, said the vice-chairman of the SIT, Justice retired Arijit Pasayat here on Monday.

Posted in Income Tax | 1 comments | 2262 Views

FM Sitharaman Clarifies: No NPS Rollback, UPS Aims to Improve It

28 August 2024 at 17:41

In a media briefing session held a few days ago, Union Finance Minister Nirmala Sitharaman shed more light on the newly rolled-out Unified Pension Scheme (UPS) to state that, the exercise of the scheme is in fact an optional one.

Posted in Income Tax | 2256 Views

Non-Linked PANs Trigger Tax Demands, Putting Firms in a Tight Spot

27 August 2024 at 14:45

Firms face challenges as the Income Tax Department issues demand notices for short deduction of tax due to unlinked PAN-Aadhaar.

Posted in Income Tax | 1 comments | 4122 Views

Income Tax Return Statistics for AY 2023-24

27 August 2024 at 14:43

The objective of publishing these statistics is to encourage wider use and analysis of Incometax data by Departmental personnel and academicians.

Posted in Income Tax | 7083 Views

Rs 352 Crore Seized in India's Largest Income Tax Raid: Team Honored for 10-Day Operation

27 August 2024 at 08:58

In a historic operation, the Income Tax Department conducted its largest-ever cash seizure last December, recovering a staggering Rs 352 crore from an Odisha-based distillery group.

Posted in Income Tax | 18 comments | 453222 Views