For the period from April to September 2024, gross direct tax collections have reached Rs 12.01 lakh crore, a significant rise from Rs 9.88 lakh crore collected during the same period in 2023.
Union Finance Minister Smt. Nirmala Sitharaman launches NPS Vatsalya in New Delhi
In accordance with the latest circular from the Income Tax Department, it has raised the minimum threshold for filing appeals to the Income Tax Appellate Tribunal (ITAT) and the High Courts and Supreme Court.
In a recent address at an event, Finance Minister Nirmala Sitharaman reaffirmed that the government will not be reducing tax rates under the old tax regime. This statement comes in response to ongoing calls from taxpayers for similar rate reductions
In a major crackdown on fraudulent Input Tax Credit (ITC) claims, the Central Goods and Services Tax (CGST) Palghar Commissionerate has uncovered a fake ITC racket amounting to Rs. 59.11 crore.
Employees of Tata Consultancy Services (TCS) have recently been issued tax demand notices by the Income Tax Department over discrepancies in their Tax Deducted at Source (TDS) claims.
According to a recent report, Virat Kohli leads the pack as the highest tax-paying Indian sportsperson for the financial year 2023-24, contributing a staggering Rs 66 crore to the government.
Global healthcare company GlaxoSmithKline Pharmaceuticals Ltd (GSK) announced on September 3, 2024, that it has received an income tax refund of Rs 222.23 crore for the assessment year 2022-23, following an order issued by the Income Tax Department
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
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.
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