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Income Tax News


FM Nirmala Sitharaman Stumped by Broker's Tax Question at BSE Event

   17 May 2024 at 08:56

Finance Minister Nirmala Sitharaman recently attended the 'Viksit Bharat 2047 - Vision for Indian Financial Markets' event, organized by the Bombay Stock Exchange (BSE) in Mumbai.

Posted in Income Tax |   1737 Views


Income Tax Department Ensures No Data Loss in CR Building Fire Tragedy

   16 May 2024 at 08:56

The Income Tax Department has reassured taxpayers that no data loss occurred due to the fire incident at its CR Building in ITO, where one official tragically lost his life.

Posted in Income Tax |   1788 Views


Tax Incentives Can Drive Sustainable Manufacturing Growth

   15 May 2024 at 08:51

Experts emphasize the pivotal role of financial incentives in propelling the adoption of green manufacturing practices among businesses.

Posted in Income Tax |   150 Views


CBDT releases new functionality in AIS to increase transparency

   14 May 2024 at 08:43

Taxpayers can now check whether their feedback is acted upon by the Source/Reporting Entities

Posted in Income Tax  1 comments |   4458 Views


Section 43B: Deductible Expenses Beyond MSME Payments

   13 May 2024 at 08:57

Section 43B of the Income Tax Act, 1961, stands as a critical component shaping the financial landscape for businesses and professionals in India.

Posted in Income Tax |   732 Views


ITR-3 Excel, Offline & Online Utility for AY 2024-25 Now Accessible for Filing

   11 May 2024 at 09:05

Excel, Offline and Online Utility of ITR-3 for AY 2024-25 is available for filing.

Posted in Income Tax |   384 Views


Over 800,000 Income Tax Returns Filed for AY 2024-25

   09 May 2024 at 09:15

The Central Board of Direct Taxes (CBDT) has reported a significant surge in tax return filings for Assessment Year 2024-25, with over 800,000 returns already submitted since April 1, 2024.

Posted in Income Tax |   3861 Views


Income Tax Department Enhances User Experience with New E-Proceedings Tab

   09 May 2024 at 09:13

The Income Tax Department has rolled out a new feature within its e-proceedings tab.

Posted in Income Tax |   1020 Views


Supreme Court Refuses Plea by Micro and Small Enterprises Regarding 45-Day Payment Rule

   07 May 2024 at 07:56

In a recent development, the Supreme Court (SC) has declined to entertain a plea filed by Micro and Small Enterprises (MSEs) challenging the 45-day payment rule stipulated in Section 43B(h) of the Income Tax Act.

Posted in Income Tax |   3837 Views


Senior Income Tax Official Arrested in Mumbai for Alleged Bribery

   06 May 2024 at 08:46

In a startling development, the Central Bureau of Investigation (CBI) has apprehended a senior official of the Income Tax (IT) department in Mumbai.

Posted in Income Tax |   651 Views