Mon, Nov 18, 2024
The Central Board of Direct Taxes (CBDT) has launched a new campaign aimed at informing taxpayers about the importance of declaring foreign assets in their Income Tax Returns (ITR). The initiative focuses on ensuring compliance with tax laws and helps taxpayers understand their reporting obligations regarding foreign assets.
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Sat, Oct 26, 2024
ITR Filing Deadline Extend: The income tax department has announced a 15-day extension for corporates to file their income tax returns, moving the deadline to November 15 for the assessment year 2024-25.
Tue, Jul 02, 2024
Newly appointed CBDT chairman Ravi Agrawal has told Income Tax Department officials that the decisions they take have implications on the nation's economy, ease of doing business and international transactions as he asked them to draw a 100-day action plan.
Fri, Aug 26, 2022
The Central Board of Direct Taxes, the administrative body for the tax department, undertakes search and seizure operations to check instances of tax evasion apart from performing its regular task of collecting revenue for the government under the direct taxes category.
Thu, Aug 18, 2022
According to the latest directions, a show cause notice will be mandatorily issued by the assessing officer (AO) to a taxpayer in whose case "any variation prejudicial to the interest of the assessee is proposed" or to say where an action against the assessee is proposed
Fri, Aug 12, 2022
Another modus operandi adopted by the companies engaged in real estate, the CBDT said, includes receipt of cash over and above the stamp duty value resulting in tax evasion.
Tue, Aug 02, 2022
The business group was "involved in profiteering through manipulation of share prices of its listed companies through operators."
Fri, Jul 15, 2022
The CBDT alleged the group was involved in "out-of-books cash sales" in its domestic operations.
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.
Fri, Jun 24, 2022
The CBDT has introduced some new provisions in order to keep a check on tax revenue leakage. Section 194R, added to Finance Act 2022, states that TDS is applicable if an individual, doctor or a social media influencer takes any benefit from a company that is over Rs 20,000 in a financial year. Here is all you need to know.
Wed, Jun 22, 2022
The income tax department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified
Thu, Apr 21, 2022
Dhanlaxmi Bank on Thursday said it has signed a memorandum of understanding with Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) for collection of taxes.
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.
Tue, Mar 29, 2022
India’s capital market forum Association of National Exchanges Members of India (ANMI) has urged the market regulator to extend the timelines of seeding PAN with Aadhaar in the interest industry and investors
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, Mar 03, 2022
Keen to keep government deficit within stated targets, the finance ministry will from March 15 start daily monitoring of the revenue receipts, including tax collections, as well as expenditure.
Wed, Mar 02, 2022
The Central Board of Direct Taxes (CBDT) has issued a refund of more than Rs 1,83,579 crore to more over 2.09 crore taxpayers for the time period between 1 April, 2021 till 28 February, 2022.
Wed, Feb 16, 2022
The Central Board of Direct Taxes (CBDT) has issued income tax refunds of Rs 1.71 lakh crore to nearly two crore taxpayers in the current financial year till February 14, 2022.
Wed, Feb 09, 2022
Also, if a taxpayer files an updated return and do not pay the additional taxes then the return would be tendered invalid.
Thu, Jan 13, 2022
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. This includes 1.20 crore refunds of Assessment Year 2021-22 (fiscal ended March 31, 2021), amounting to Rs 23,406.28 crore.
Tue, Jan 11, 2022
The Central Board of Direct Taxes (CBDT) has extended due dates for filing audit reports and Income Tax Returns (ITRs) for 2021-22. The decision has been taken considering the difficulties due to the COVID-19 situation.
Sun, Dec 26, 2021
"A total of 4,43,17,697 #ITRs have been filed up to 25.12.2021 including 11,68,027 #ITRs having been filed on the day itself," the IT department tweeted
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
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