By: AdminJune 12, 2024Categories: Income Tax News|News4 Min Read The income tax (I-T) department could complete by March 2025 reassessments of 170 thousand notices issued between March 2021 and March…
Income Tax Dept releases Excel Utility of ITR-5 for AY 2024-25 for filing
By: AdminJune 12, 2024Categories: Important News|Income Tax News4 Min Read The Income Tax Department issued an Update dated June 10, 2024, stating that the Excel utility for ITR-5 for AY…
ITAT Mumbai rules Tax incidence of non-compete fee is not retrospective
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read Non-compete fees received by a taxpayer will be treated as non-taxable capital receipts up to the financial year 2002-03. The amendment,…
Telangana High Court’s landmark decision: GAAR ruling impacts taxpayers
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read The Telangana High Court has ruled against a taxpayer against whom the revenue department had invoked General Anti-avoidance Rule (GAAR). According…
Government Plans to Tweak Capital Gains Tax Regime for Debt Mutual Funds
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read The government is contemplating a revision to the capital gains tax framework for debt mutual funds to provide some relief for…
Check your Form 26AS, AIS carefully for error-free income tax return filing
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read July 31 – the due date for filing income tax returns for the financial year 2023-24 (assessment year 2024-25) – is…
IDBI Bank receives income tax refund order worth ₹2,702 crore
By: AdminJune 08, 2024Categories: Income Tax News|News4 Min Read Private sector lender IDBI Bank Ltd on Friday (June 7) said it has received an income tax refund order amounting to…
CPC(TDS) Reprocesses FY 2023-24 TDS Returns, Removes Short Deduction Demands as per Circular 6/2024 Relaxation on PAN-Aadhaar Linkage
By: AdminJune 06, 2024Categories: Income Tax News|News4 Min Read The CPC(TDS) has reprocessed the affected TDS returns and removed the short deduction demands from the returns for FY 2023-24, in…
From angel tax removal to funding boost, startups and VCs pin hope on Modi Government 3.0
By: AdminJune 05, 2024Categories: Income Tax News|News4 Min Read India's startup founders and venture capital investors are placing their hopes on Modi Government 3.0, anticipating ongoing support through favourable policies,…
Income Tax Dept Imposes Penalty of Rs 4.68 Crore On Larsen & Toubro
By: AdminJune 04, 2024Categories: Income Tax News|News4 Min Read The income tax department has imposed a penalty of over Rs 4.68 crore on Larsen & Toubro Ltd, according to a…