As of the 2024-25 assessment year, two lakh Income Tax Returns (ITRs) reporting foreign assets and income have been filed, highlighting the importance of accurate disclosure. To ensure compliance with…
FAQs on PFA and Tax Audits AY 2024-25: Key IT Department Issues Explained
By: Admin| August 10, 2024 |Categories: Important News|Income Tax News As the tax filing season for Assessment Year (AY) 2024-25 approaches, the Income Tax Department has released frequently asked questions…
How Many Days to Receive Tax Refunds After ‘ITR Processed’ Message from the Income Tax Department?
By: AdminAugust 02, 2024Categories: Income Tax News|News The Income Tax Department has announced that it will not extend the deadline for taxpayers to file their income tax returns (ITRs), despite…
Revenue Secretary: 70% of 6 Crore FY24 ITRs Filed Under New Tax Regime
By: Admin|July 31, 2024|Categories: Income Tax News|News Introduction In a significant development for taxpayers in India, approximately 6 crore income tax returns (ITRs) were filed for the fiscal year 2023-24.…