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To rectify the experience of the assessee the income tax department would have opted a significant step through initiating the newly updated national website, www.incometaxindia.gov.in. The website secures an upgraded user interface, helpful additional features, and new modules to uphold growing technology. Nitin Gupta, the Chairman of the Central Board of Direct Taxes (CBDT), launched […]
The taxman is seeking to avail more time because there are large numbers of cases that are still in consideration related to international taxation and contentious transfer pricing matters. The tax tribunal, a quasi-judicial authority, has been requested to postpone ongoing hearings concerning these cases until the Supreme Court concludes. This request was conveyed through […]
Are you relieved that the income tax return filing season is over? But, for some assessee, receiving the return processing notification isn’t finished off the process this year. Since Budget 2022 various revisions would have been made within the laws of tax, which directed that you need to open your tax file again despite filing […]
The number of Income Tax Returns submitted touched a record high of more than 6.77 crore in the assessment year 2023–24, according to a statement released on Tuesday by the Income Tax Department. In comparison to the total number of ITRs filed during the prior assessment year, which saw 5.83 crore returns filed, this amount […]
The deadline to file an ITR for the assessment year 2023-24 (FY 2022-23) was July 31, 2023. Despite requests for an extension, the government has not extended the deadline for filing ITRs. This is the second time the administration has failed to extend the deadline. Last year’s ITR filing deadline was likewise not extended. The […]
The Income Tax Department has marked a new milestone as more than 6 crore Income Tax Returns (ITR) had been filed as of 30th July 2023. Almost 26.76 lakh ITRs have been submitted as of 6:30 p.m. on 30th July. The last date for filing the ITR is today 31st July 2023. According to the […]
Various prominent social media influencers would come under investigation from the income tax department concerning tax fraud, as revealed in the list. Although the identities of these people are kept a secret, it is clear that tax officials are taking action against influencer tax avoidance. To prevent any legal repercussions, it is essential for social […]
The GST evasion investigation agency shall finish its probe in 30 insurance companies. The Directorate General of GST Intelligence (DGGI) would have finished the investigation in 15 of them fetching the ITC differences to the tune of 3500 cr. The same would be under the procedure of sending the notices to the left 15 people […]
According to a top government official, the income tax department has initiated an investigation into the claim that insurance businesses fraudulently claimed GST input tax credits. According to a senior government official, the department is attempting to prove that if these expenses are not legitimate, they must have avoided the income tax assessment. According to […]
