Income Tax News

Income Tax Department Unveils New Tax Payment Summary Report on AIS Portal

Posted in Income Tax on 22 September 2023
Income Tax Department of India has recently introduced a new tax payment summary report, which is now accessible in the "Reports" section of the AIS portal..

Income Tax Department Unveils New DSC Management Utility for Taxpayers

Posted in Income Tax on 20 September 2023
Income Tax Department has released the latest Digital Signature Certificate (DSC) Management Utility for taxpayers. The new utility is known as emBridge and it ..

CBDT Extends Deadline for Filing Form 10B/10BB and Form ITR-7 for AY 2023-24

Posted in Income Tax on 19 September 2023
CBDT extends due date for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24..

Gross Direct Tax Collections for FY 2023-24 Surge by 18.29%

Posted in Income Tax on 19 September 2023
The provisional figures of Direct Tax collections for the Financial Year 2023-24 show that net collections are at Rs. 8,65,117 crore, compared to Rs. 7,00,416 c..

IT Raids Noida Real Estate Firm's Premises in Tax Evasion Probe

Posted in Income Tax on 19 September 2023
The Income Tax department conducted searches on the premises of a real estate developer called Orris Group and its linked companies in Noida and Greater Noida o..

IT Dept Releases Updated Offline Utility for Form 3CA-3CD and 3CB-3CD Forms for AY 2023-24

Posted in Income Tax on 18 September 2023
Income Tax Department (ITD) has issued an updated common offline utility for Form 3CA-3CD and 3CB-3CD for the Assessment Year 2023-24. ..

Income Tax Department Unveils Suite of Tax Tools to Aid Taxpayers

Posted in Income Tax on 16 September 2023
The Income Tax Department has released a number of tax tools for taxpayers to help them with their tax planning and compliance. These tools can be used to calcu..

Income Tax Department issues Advisory on Bank Account Validation Status for Refunds

Posted in Income Tax on 15 September 2023
Income Tax Department issued an advisory on September 13, 2023, regarding the validation status of bank account numbers for refunds. ..

Income Tax Department Conducts Raids on Azam Khan's Trusts and Properties

Posted in Income Tax on 14 September 2023
The Income-tax department carried out raids at more than 30 premises in Uttar Pradesh and Madhya Pradesh. These raids are part of a tax evasion investigation in..

CBDT Grants Sec 47(viiab) Exemption to Investment Trust Units and IFSC ETFs

Posted in Income Tax on 14 September 2023
The CBDT (Central Board of Direct Taxes) has amended the notification No. 16/2020 dated 05-03-2020 to enhance the scope of section 47(viiab) exemption...