CBDT enables taxpayers to file returns from Apr 1
New Delhi: The Central Board of Direct Taxes (CBDT) on Thursday said it has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024–25 (relevant to Financial Year 2023–24) from April 1, 2024, and onwards.
Income Tax Commissioner confirms tax demand of Rs 1,666 cr on IndiGo
New Delhi: The Commissioner of Income Tax-Appeals has affirmed a tax demand of nearly Rs 1,666 crore on Interglobe Aviation, the parent company of IndiGo airlines, as disclosed in a notice to stock exchanges on Wednesday, Moneycontrol reported.
Over 7.65 crore ITRs filed for AY 2023-24 till Oct 31, 11.7% higher Y-o-Y
New Delhi: The Income Tax Department registered a record number of filing of Income Tax Returns (ITRs) till 31st October, which was the due date for filing of ITRs for taxpayers not having any international or specified domestic transaction, Ministry of Finance said on Wednesday.
88% of verified income tax returns for AY 2023-24 processed: IT Dept
New Delhi: The Income Tax (IT) Department has processed over 6 crore Income Tax Returns (ITR) for Assessment Year (AY) 2023-24, the Ministry of Finance said on Tuesday.
Govt increases the limit for tax exemption on leave encashment for non-government salaried employees
New Delhi/IBNS: The government has increased the tax exemption limit on leave encashment of non-government salaried employees from Rs 3 lakh to Rs 25 lakh.
IT sleuths conduct raids on shopping malls in Hyderabad
Hyderabad: Income Tax (IT) officials on Tuesday raided several shopping malls here to investigate potential tax evasion.
ITR Forms for FY 2023-24 include schedule for declaring virtual digital assets
New Delhi: The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2023-24 and will come into effect from 1st April 2023, the Ministry of Finance said.
New Delhi/IBNS: Ahead of the 2024 general elections in India and polls in key states this year itself, Union Finance Minister Nirmala Sitharaman on Wednesday presented the annual budget offering a big relief to the taxpayers while emphasizing on job creations and ramping up capital spending.
Direct Tax collections grow 24.58 pc y-o-y to Rs 14.71 lakh crore
New Delhi/IBNS: Direct Tax collections up to January 10, 2023, stood at Rs. 14.71 lakh crore, up 24.58% compared to gross collections for the corresponding period of last year, the Ministry of Finance said on Wednesday.
New TDS rules to apply on doctors, social media influencers from July
New Delhi: According to the new tax rules, freebies received from businesses for sales promotion by doctors and social media influencers will attract a 10 percent tax deducted at source (TDS) from July
Over 6.2 cr ITRs, 21 lakh major Tax Audit Reports filed on new e-filing portal
New Delhi/IBNS: More than 6.2 crore Income Tax Returns (ITRs) and about 21 lakh major Tax Audit Reports (TARs) have been filed on the new e-Filing portal of the Income Tax Department till Thursday (February 10), the Ministry of Finance said on Friday.
Budget provided maximum relief to taxpayers: CBDT Chairman
New Delhi/UNI: The focus of the Budget has been to provide maximum relief to the taxpayers by making significant changes in the income tax processes, Central Board of Direct Taxes (CBDT) Chairman JB Mohapatra said here on Wednesday
CBDT issues Rs 1.54 lakh cr in refunds to income taxpayers
New Delhi/IBNS: The income tax department on Thursday said it has issued refunds of over Rs 1.54 lakh crore to more than 1.59 crore taxpayers so far this fiscal.
5.89 crore Income Tax Returns filed on new e-filing portal: Government
New Delhi: Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on Dec 31, the extended due date, as per government data released on Saturday.
No extension of ITR filing deadline: Revenue Secretary Tarun Bajaj
New Delhi/IBNS: The government has no plan to extend the deadline for ITR filing and the filing process is going on smoothly, Revenue Secretary, Revenue Secretary Tarun Bajaj said Friday in a press conference.