Income Tax News

Income Tax Officer Loses Rs 48,902 in Online Reward Points Fraud

20 May 2024 at 09:04

A 48-year-old IRS officer with the Income Tax Department fell victim to an online reward points fraud, losing Rs 48,902.

Posted in Income Tax | 2622 Views

SEBI Eases KYC Formalities for Mutual Funds: PAN-Aadhaar Link Rule Withdrawn

20 May 2024 at 09:02

Mutual fund investors can breathe easy for now. The capital market regulator, SEBI, has withdrawn the requirement to link PAN with Aadhaar for obtaining 'KYC registered' status for mutual fund transactions.

Posted in Income Tax | 13044 Views

Retired Chartered Accountant Loses Over Rs 1.97 Crore in Online Stock Market Fraud

20 May 2024 at 09:01

An investigation has been initiated after Madhukant Patel, an 88-year-old retired Chartered Accountant from Ahmedabad, reportedly lost Rs 1.97 crore in an alleged stock trading cyber fraud, according to the police.

Posted in Income Tax | 8325 Views

FM Nirmala Sitharaman Stumped by Broker's Tax Question at BSE Event

17 May 2024 at 08:56

Finance Minister Nirmala Sitharaman recently attended the 'Viksit Bharat 2047 - Vision for Indian Financial Markets' event, organized by the Bombay Stock Exchange (BSE) in Mumbai.

Posted in Income Tax | 3795 Views

Income Tax Department Ensures No Data Loss in CR Building Fire Tragedy

16 May 2024 at 08:56

The Income Tax Department has reassured taxpayers that no data loss occurred due to the fire incident at its CR Building in ITO, where one official tragically lost his life.

Posted in Income Tax | 2208 Views

Tax Incentives Can Drive Sustainable Manufacturing Growth

15 May 2024 at 08:51

Experts emphasize the pivotal role of financial incentives in propelling the adoption of green manufacturing practices among businesses.

Posted in Income Tax | 435 Views

CBDT releases new functionality in AIS to increase transparency

14 May 2024 at 08:43

Taxpayers can now check whether their feedback is acted upon by the Source/Reporting Entities

Posted in Income Tax | 1 comments | 5526 Views

Section 43B: Deductible Expenses Beyond MSME Payments

13 May 2024 at 08:57

Section 43B of the Income Tax Act, 1961, stands as a critical component shaping the financial landscape for businesses and professionals in India.

Posted in Income Tax | 1095 Views

ITR-3 Excel, Offline & Online Utility for AY 2024-25 Now Accessible for Filing

11 May 2024 at 09:05

Excel, Offline and Online Utility of ITR-3 for AY 2024-25 is available for filing.

Posted in Income Tax | 1299 Views

Over 800,000 Income Tax Returns Filed for AY 2024-25

09 May 2024 at 09:15

The Central Board of Direct Taxes (CBDT) has reported a significant surge in tax return filings for Assessment Year 2024-25, with over 800,000 returns already submitted since April 1, 2024.

Posted in Income Tax | 4422 Views