By: Admin | September 18, 2024 | Categories: Tax Policy | 4 Min Read As of September 17, 2024, India’s Direct Tax collections for FY 2024-25 have shown remarkable growth,…
Tax Demands Over Non-Linked PANs Leave Firms in a Tight Spot
By: Admin | August 27, 2024 | Categories: Income Tax News | 4 Min Read Many employers are grappling with demand notices from the Income Tax Department for short deduction…
Income Tax Department Targets Rs 15,000 Crore Evasion Following Hotel, Hospital, and Shopping Bills Investigation
By: Admin | August 23, 2024 | Categories: Income Tax News | 4 Min Read The Income Tax Department has issued 10,000 reopening notices to companies and individuals across major…
CBDT Forms Committee to Review Income Tax Act, Plans to Eliminate ‘Sunset’ Clauses
By: Admin | August 22, 2024 | Categories: Tax News | 4 Min Read The Central Board of Direct Taxes (CBDT) has established a new committee to review the Income…
CBDT Clarifies ITCC Requirements for Indian Citizens
By: Admin | August 21, 2024 | Categories: Income Tax, Press Release | 4 Min Read The Central Board of Direct Taxes (CBDT) has clarified the requirements for obtaining an…
Madras High Court Orders GST Authority to Address Assessee’s Rectification Application Due to Form GSTR-1 Error
By: Admin | August 21, 2024 | Categories: Important Pronouncements | 4 Min Read The Madras High Court, in Veeran Mehhta v. Deputy Commercial Tax Officer and Deputy State Tax…
CBDT Directs I-T Dept to Monitor High-Value Cash Transactions at Hotels and Hospitals
Introduction The Central Board of Direct Taxes (CBDT) has instructed the Income Tax (I-T) department to monitor cash transactions in high-value sectors, including hotels, luxury brand retailers, hospitals, and IVF…
Income Additions: Why an ITAT Investigation Report Alone is Insufficient
By: AdminDate: August 17, 2024Categories: ITAT | NewsReading Time: 4 Minutes Mumbai ITAT Ruling: Generalized Investigation Reports Insufficient The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has delivered…
Direct Tax Arrears Surge to Over ₹43 Lakh Crore: Special Recovery Plan by Department
By: AdminAugust 17, 2024Categories: Income Tax News|News4 Min Read Income Tax Department Faces Surge in Arrears: Urgent Actions and Strategies Unveiled The Income Tax Department is facing a major challenge…
Taxpayers Alert: ITR Processing Time Slashed to 10 Days from 93 Days
By: AdminDate: August 14, 2024Category: Income Tax News | NewsRead Time: 4 Minutes Finance Minister Nirmala Sitharaman announced a significant reduction in the average processing time for income tax returns…