Income Tax News

Senior Income Tax Official Arrested in Mumbai for Alleged Bribery

06 May 2024 at 08:46

In a startling development, the Central Bureau of Investigation (CBI) has apprehended a senior official of the Income Tax (IT) department in Mumbai.

Posted in Income Tax | 1194 Views

FM Sitharaman Refutes Post-Election Income Tax Speculations

04 May 2024 at 09:00

Finance Minister Nirmala Sitharaman has refuted recent media reports speculating sweeping changes to the income tax system following the upcoming Lok Sabha election results.

Posted in Income Tax | 3549 Views

Businessman Faces One-Year Jail Term for Bounced Cheques to Income Tax Department

01 May 2024 at 09:03

A recent verdict by a Gandhinagar court has landed Chandkheda resident Mehulkumar Barot in hot water, resulting in a one-year prison sentence.

Posted in Income Tax | 807 Views

ICAI releases Exposure Draft of Guidance Note on Reports on Audit u/s 12A/10(23C)

30 April 2024 at 08:50

Exposure Draft - 'Guidance Note on Reports on Audit under Section 12A/10(23C) of the Income-tax Act,1961' for Public Comments

Posted in Income Tax | 591 Views

Income Tax Department: Half of India Holds PAN, Gender Gap Shrinks

29 April 2024 at 08:48

Nearly half of India's population now possesses a Permanent Account Number (PAN), totaling a staggering 74.67 crore allocations.

Posted in Income Tax | 3081 Views

Income Tax Department Unveils Revised Form Utility and Schema

26 April 2024 at 08:54

Common offline utility for Form 3CA-3CD and 3CB-3CD

Posted in Income Tax | 1 comments | 1035 Views

CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024

26 April 2024 at 08:50

The Central Board of Direct Taxes (CBDT), has issued Circular No. 07/2024 dated 25.04.2024 further extending the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 (the ‘Act’) upto 30th June, 2024.

Posted in Income Tax | 5217 Views

ITR-6 Excel Utility for AY 2024-25 is Available For Filing

26 April 2024 at 08:49

ITR-6 Excel Utility for AY 2024-25 is Available For Filing

Posted in Income Tax | 540 Views

CBDT Extends PAN-Aadhaar Link Deadline Until 31st May 2024

24 April 2024 at 11:01

For the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, there shall be no liability on the deductor/collector

Posted in Income Tax | 4 comments | 21483 Views

Proposed Income Tax Act Amendment Targets MSME Dues Tax Treatment

24 April 2024 at 09:04

A recent alteration in the Income Tax Act, aimed at bolstering small businesses by ensuring timely payments, might have inadvertently deterred potential buyers from engaging with them.

Posted in Income Tax | 1 comments | 4332 Views