The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in FY 2023-24 with Indian taxpayers. This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs).
According to a report, the Income Tax Department has identified a staggering 1.52 crore such individuals who, despite having taxable income or TDS, have failed to fulfill their filing obligations.
The Income Tax Department recently issued a clarification regarding concerns about the amendment to the India-Mauritius Double Taxation Avoidance Agreement (DTAA) on April 12, 2024.
In a significant relief for taxpayers awaiting their income tax refunds, the Income Tax Department has announced a deadline of April 30 for the approval of pending refunds.
In a recent directive from the Central Board of Direct Taxes (CBDT), income tax officers have been mandated to scrutinize the top 30 cases of short payment concerning tax deducted at source (TDS).
The Circular issued by the CBDT delineates a comprehensive Interim Action Plan tailored for the Financial Year 2024-25.
There is no special drive to re-open cases of mismatch, and media reports alleging that large-scale re-opening is being undertaken by the CBDT are completely misplaced
New Form-1 (Aircraft Leasing business), Form -1 {Dividend exempt u/s 10(34B)}, Form-1 (Ship Leasing Business), Form-10IEA, Form-10IFA & Form-3AF are released.
A 24-year-old man from Nai Basti, identified as Ritesh Sharma, found himself in police custody on Wednesday for allegedly posing as an Income Tax officer.
The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards.
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