Income Tax News

Offline Utility of ITR-5 for AY 2023-24 Now Accessible

17 July 2023 at 17:17

Offline utility of ITR-5 for AY 2023-24 is available for filing.

Posted in Income Tax | 4905 Views

UP YouTuber's Rs 1 Crore Income Attracts Income Tax Raid

17 July 2023 at 14:57

The Income Tax Department (ITD) raided the house of a YouTuber named Taslim in Uttar Pradesh on July 15, 2023. The ITD found ₹ 24 lakh cash during the raid, along with gold jewellery and other valuables.

Posted in Income Tax | 16614 Views

ED arrests 3 individuals, including former IT Official in TDS refund fraud case

17 July 2023 at 08:46

The Enforcement Directorate (ED) has arrested three persons, including a former Income Tax (I-T) official, in connection with a Rs 263 crore Tax Deducted at Source (TDS) refund fraud.

Posted in Income Tax | 1 comments | 13878 Views

Govt Confirms: No Extension Planned for Income Tax Return Filing Deadline

17 July 2023 at 08:45

The Ministry of Finance has said that there is no plan to extend the deadline for filing income tax returns for the financial year 2022-23. The last date for filing returns is July 31, 2023.

Posted in Income Tax | 11703 Views

Income Tax Dept Releases Excel Utility for ITR-6 Filing for AY 2023-24

15 July 2023 at 07:24

Income Tax Department released the Excel based utility for ITR-6 for Assessment Year 2023-24.

Posted in Income Tax | 7416 Views

FM Nirmala Sitharaman Clarifies No Income Tax Until Rs 7.27 Lakh

14 July 2023 at 14:53

Finance Minister Nirmala Sitharaman clarified on Friday, July 14, 2023, that annual income up to Rs 7.27 lakh will not be taxed. This is because the basic exemption limit for the new income tax slabs is Rs 3 lakh, and taxpayers who opt for the new ta

Posted in Income Tax | 16863 Views

Income Tax Dept Enables Filing/Re-Filing of Form 10AB on e-Filing Portal for AY 2021-22, 2022-23 & 2023-24

14 July 2023 at 08:42

The Income Tax Department (ITD) enabled the filing/re-filing of Form 10AB for Assessment Years 2021-22, 2022-23, and 2023-24 on the e-filing portal on May 24, 2023.

Posted in Income Tax | 16506 Views

Income Tax Dept Releases Offline Utility for Form 3CA-3CD and 3CB-3CD for AY 2023-24

14 July 2023 at 08:41

Income Tax Department (ITD) has issued the common offline utility for Form 3CA-3CD and 3CB-3CD for the Assessment Year 2023-24.

Posted in Income Tax | 37338 Views

CBDT clarifies taxability of non-resident investor's offshore income via AIF

13 July 2023 at 08:48

CBDT has recently issued Circular 12/2023, dated 12 July 2023, aiming to provide much-needed clarification on the taxability of income earned by non-resident investors from offshore investments made through an Alternative Investment Fund (AIF).

Posted in Income Tax | 8781 Views

Income Tax Dept Sets Target of 50 Cases per AO for Survey and Online TDS Verification

11 July 2023 at 08:47

The Income Tax Department of India has recently announced a new target for its Assessing Officers to conduct surveys and online verification of Tax Deducted at Source (TDS) in 50 cases each

Posted in Income Tax | 19365 Views