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CBDT Chairman Ravi Agrawal has directed the Income Tax Department to adopt a proactive stance in preparation for the upcoming transition to the new direct tax law. With implementation slated for April 1, the Chairman urged officials to execute their duties with ‘clarity and purpose’ to ensure a seamless shift for taxpayers and the administration […]
The Income Tax Department, in its updated release, states that more than 9.11 crore registered users have submitted their income tax returns for FY 2024-25 as of February 28, 2025. This figure is significant, considering that the total number of registered users stands at 13.96 crore, meaning that over 65% of registered users have filed […]
Various experts cited the Centralised Processing Centre (CPC) of the income tax department as making errors in the ITR processing. A representation has been sent by the Karnataka State Chartered Accountants Association (KSCAA) to the CBDT in the same concern. The representation of the KSCAA cited that the CPC has made a mistake in acknowledging […]
The refunds worth more than ₹ 80,000 crores have to be allotted to the 24.56 lakh taxpayers within the current financial year said the Income-tax department. “CBDT has, so far, issued refunds of over ₹ 88,652 crores to more than 24.64 lakh taxpayers from 1st April 2020 onwards. Income tax refunds ₹ 28,180 crore have […]
Consistent on making tax payment a complete electronic mechanism government introduced online e-return forms, e-payment methods and various e-assessment techniques. To this I-T department on Monday declared that it had taken up 58,322 cases of e-assessments cutting out submission of hard copy or personal appearance of the taxpayer. A step forward towards completely transforming assessment […]
Marked are instances when people call on the numbers mentioned on the IT department’s websites to address their tax-related queries, the calls either get unanswered or busy. People end up blaming the IT department’s redressal mechanism. Now the department has come up with the solution for the same, all your issues are expected to be […]
Tax system in India keeps on reforming for good. The Government and other tax-related departments are constantly working to make the tax system more rigid. One such reform is recently brought in practise by the Tax Department related to ‘Income Tax Refund’. Valid from the prevailing year onward, the one who claims Income Tax Refund […]
The income tax department is digging the records for the traders who come under the grid of GST but are not filing ITR. The information is also shared with the municipal co-operation of Madhya Pradesh and Chattisgarh (as it comes under the tax zone of MP). As a result of long scrutiny of the trader’s […]
Tax and India are slowly but surely arriving at reconciliation terms. This is echoed in a recent statement made by a government official.
