Tue, Dec 31, 2024
Through a circular, the Central Board of Direct Taxes (CBDT) extended the due date for determining the amount payable under the VsV scheme to January 31, 2025, from December 31, 2024.
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Tue, Nov 26, 2024
This will be an upgrade of the current PAN/TAN 1.0 ecosystem, consolidating the core and non-core PAN/TAN activities as well as the PAN validation service.
Wed, Nov 13, 2024
There has been a significant increase in income tax compliance in the country with more than five-fold growth in the Rs 50 lakh-plus income category, according to sources.
Mon, Jul 25, 2022
More than 2 crore ITRs have been submitted via e-filing system, according to a Tweet from the Income Tax department last week. The number is less than half of the total ITRs submitted the year before.
Akshay Kumar, one of the top-paid actors in Bollywood, has been reportedly honoured by the Income Tax department as the 'highest taxpayer' in the country yet again, according to news agency ANI.
Wed, Jul 20, 2022
e-PAN card service is available to all taxpayers who possess an Aadhar card.
Wed, Jul 13, 2022
The government in the last few years has made the ITR filing process easier and also reported a substantial rise in the number of tax return filings.
Thu, Jul 07, 2022
ITR as defined by the Income Tax department is a prescribed form through which the particulars of income earned by a person in a financial year.
Thu, Jun 30, 2022
CBDT, which prepares the policy for the Income Tax Department, has extended the last date for linking PAN-Aadhaar till March 31, 2023. But, from July 1, a penalty of Rs 1000 will be levied every month.
Thu, Apr 14, 2022
The focus on capex in the recently announced Budget for the current fiscal year will boost manufacturing and tax revenue collections, thereby keeping India on track to becoming a USD 5 trillion economy, the finance ministry said on Thursday.
Mon, Apr 04, 2022
The government has notified income tax returns form to be filled by trusts, charitable organisations and political parties for 2021-22 fiscal, in which assessees will be required to specify additional details of registration under any law other than the I-T Act.
Fri, Apr 01, 2022
The government has exempted tour operators from collecting taxes from non-resident Indians visiting India and booking their overseas tour package from the country.
Wed, Mar 23, 2022
The Investigation Department of the Income Tax Department has seized unaccounted cash of Rs 25 crore from the properties of real estate player Omaxe Group.
A team of officials of the department are looking at financial documents and other business transactions of the company and the promoters
Tue, Mar 22, 2022
The Income Tax Department today raided the Hiranandani Group of the real estate sector on suspicion of tax evasion.
Wed, Mar 16, 2022
The income tax department on Wednesday said income tax refunds worth over Rs 1.92 lakh crore have been issued to more than 2.24 crore taxpayers so far this fiscal.
Thu, Feb 24, 2022
The income tax department on Thursday said it has issued refunds of close to Rs 1.83 lakh crore to more than 2.07 crore taxpayers so far this fiscal.
Sun, Jan 02, 2022
As on 10 January, 2021 (the extended due date for ITRs for AY 2020-21), the total number of ITRs filed was 5.95 crore with 31.05 lakh ITRs filed on the last day on 10 January, 2021 as against over 46.11 lakh ITRs filed on the last day this year
Thu, Dec 30, 2021
The Income Tax Department has tweeted: More than 5 crore Income Tax Returns for AY 2021-22 filed till 5:45pm today! Hope you have filed yours too! If not, please file your #ITR for AY 2021-22 before the extended due date of 31st December, 2021.
Wed, Dec 29, 2021
The Central Board of Direct Taxes mentioned that large number of electronically filed ITRs for the Assessment Year 2020-21 still remain pending with the Income-tax Department for want of receipt of a valid ITR-V Form at CPC, Bengaluru or pending e-Verification from the taxpayers concerned.
Sat, Dec 18, 2021
If an individual makes high-value cash transactions, there is a strong possibility that he/she might get a notice from Income Tax Department. The different cash-related transactions include banks, mutual fund houses, brokerages, and property registrars
Wed, Nov 24, 2021
‘The Chinars’ is a new office-cum-residential complex of the Income Tax Department in Srinagar.
Sun, Nov 14, 2021
Central Board of Direct Taxes Chairman J B Mohapatra inaugurated the Taxpayers' Lounge to increase awareness about various services provided by the department to taxpayers and to facilitate compliance with the various income-tax rules and procedures
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