Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly
The government has provided additional relief to taxpayers under the new income tax regime by tweaking it so that those earning over the tax-free limit of Rs 7 lakh per annum
The TDS or tax deducted at source on online gaming applications will now be effective from 1 April, 2023 as against an earlier provision of 1 July, 2023.
Credit card payments for foreign travel will be brought under Reserve Bank’s Liberalised Remittance Scheme (LRS) to ensure that such expenses do not escape TCS (Tax Collection at Source).
In a shocking incident, the Income Tax department sent a notice to a labour for recovery of Rs 8 crores. The person, who is a labour by profession, is a native of Bulandshahr in Uttar Pradesh.
The Income Tax Department has launched a Mobile app for Taxpayers to view Annual Information Statements (AIS).
The Unique Identification Authority of India has made document update facility online for Aadhaar free till June 14, an official statement said on Wednesday.Earlier, residents were required to pay Rs. 25 to update their documents on the Aadhaar porta
The taxation department has approved a Rs 549 percent of the total tax summons to Amazon's corporation Amazon Web Service (AWS). Aws offers cloud storage.
On a pilot basis, in about 68,000 cases, information of financial transactions pertaining to FY 2019-20 has been taken up for e-Verification
The provisional figures of Direct Tax collections up to 10th March, 2023 continue to register steady growth. Direct Tax collections up to 10th March, 2023 show that gross collections are at Rs. 16.68 lakh crore
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