For the transactions entered into upto 31.03.2024 and in cases where the PAN becomes operative (as a result of linkage with Aadhaar) on or before 31.05.2024, there shall be no liability on the deductor/collector
A recent alteration in the Income Tax Act, aimed at bolstering small businesses by ensuring timely payments, might have inadvertently deterred potential buyers from engaging with them.
As of January 31 this year, a staggering 5,44,205 appeals awaited resolution within the corridors of the Income Tax Department
Shares of Yes Bank witnessed a significant uptick in early trading today, buoyed by positive developments including a substantial tax refund order and an equity allotment decision.
In a pivotal move, the Supreme Court has stepped in to assess the contentious ₹33,000 crore tax claim imposed on Jaypee Infratech Ltd (JIL), marking a crucial juncture in the ongoing legal saga that has left 22,000 homebuyers in limbo.
Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh crore i.e. by 7.40%
In a recent development, the Central Board of Direct Taxes (CBDT) has issued a directive to Self-Reporting Organizations (SROs) urging them to furnish comprehensive details of high-value transactions conducted during the fiscal year 2022-23.
ITR-1, ITR-2, ITR-4 & ITR-6 for AY 2024-25 are enabled for filing in Offline as well as Online mode at e-filing portal. Excel utilities of ITR-1, ITR-2 & ITR-4 for AY 2024-25 are available under 'Downloads' button at e-filing portal.
The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in FY 2023-24 with Indian taxpayers. This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs).
According to a report, the Income Tax Department has identified a staggering 1.52 crore such individuals who, despite having taxable income or TDS, have failed to fulfill their filing obligations.
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