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The Tax Department, or the Central Board of Direct Taxes, said that the drive to issue notices and reopen a “small number” of cases with mismatches between the rent paid via a salaried employee and the rent received via the recipient in FY21 was not counted under a special drive for it, as media notified […]
The Indian Institute of Technology, Hyderabad mentioned that it will extend all possible support to the Telangana Commercial Taxes officials in investigating the current GST returns scam excavated through the department and continue to furnish all data as requested with time. IIT-H in a report mentioned that a project was sanctioned by the Government of […]
The Income Tax Department has introduced an investigation operation against particular social media influencers and content creators who make content using various platforms such as YouTube and Instagram. The move was launched because they are not disclosing their income and profits corresponding to their earnings, according to the sources. The department started taking action last […]
As per a recent update, several banks have communicated with the Central Board of Direct Taxes (CBDT) seeking clarity on the purview of Section 194R of the Income Tax Act, as they fear that the newly presented provision will empower them to deduct 10% tax at source on incentives given to the big business customers […]
On the basis of secret sources, the income tax department All the unaccounted income and not paying up the taxes will not be fruitful from now onwards as the tax department has made it clear that it will be important will initiate a search program and take action for the case of a person who […]
PAN cards will now be issued online and instantly in India by the Income Tax Department. This is a good move towards digitalization of services by the Income Tax Department. Applicants will not need to fill out an application form and submit the required documents manually as now the income tax department would procure the […]
The Income Tax Department is intending to scrutinize the business of Flipkart and Amazon starting with the details of their top five sellers in India. The motive behind the scrutiny is to check whether these top and most competent online e-commerce portals are obedient to the Goods and Service Tax regime. Alternatively, it appears to […]
All the unaccounted income and not paying up the taxes will not be fruitful from now onwards as the tax department has made it clear that it will be important to pay the income tax. Also, the income tax department has the database of all the citizens which would further help him to get the […]
With the ITR filing dates coming close, everyone must be busy in collecting the relevant documents and information for filing an ITR. While filing an ITR one should not forget that the cashback offers served via, UPI, e-wallets, credit/debit cards under certain conditions may be taxable. A person can get cashback immediately or after the […]
