Page 9 of income tax department News

Taxpayers will soon be able to file their income tax returns for the recently concluded financial year.

The changes effected in the Form 16 format will ensure that the information about different taxes, deductions and exemptions on…

It is mandatory to choose between the old and new tax regime while filing the online form — with specific…

The Income Tax Department has issued a notification stating that 1% TCS will be imposed on sale of certain luxury…

Taxpayers will soon be able to file their returns for FY25 via the official Income Tax Department website.

This scheme is specially for those taxpayers whose cases are stuck with the Income Tax Department in the courts or…

It is not necessary to attach any documents while filing your returns. However the details given in various documents will…

In a recent judgment, the Mumbai Income Tax Appellate Tribunal (ITAT) ruled that such an exchange cannot be taxed under…

For this assessment year, if you receive less income tax refund or do not get any refund at all, you…

Under section 269ST of the Income Tax Act, receiving more than Rs 2 lakh in cash is prohibited, whether it…

The Income Tax Department has now made tax scrutiny data-based and risk-focused. AI tools are now able to check how…

The Income Tax Department uses modern tools like data analytics and artificial intelligence to catch the difference between your expenses…

ITR Filing: Seven different ITR forms were notified in April last year, so it is expected that the tax department…

Stating that he has seen “regulatory oppression” by successive governments at the Centre and state level, the IT industry veteran…

The new chairman’s initiative for optimum regulation within a fixed time frame makes ample sense.

The new form is aimed at addressing some of these procedural ambiguities related to block assessments, the Central Board of…

According to tax experts, these notices sent by the department have been issued under Section 143 (1) of the Income…

The filing of income tax return (ITR) is compulsory for those individuals whose annual income is above the basic exemption…