Income Tax News

Several FPIs, AIFs get tax notice for errors in returns

22 November 2022 at 08:34

The Income Tax Department has sent notices to dozens of foreign portfolio investors (FPIs) and alternative investment funds (AIFs), flagging discrepancies in their tax returns.

Posted in Income Tax | 5529 Views

IT Department detects unaccounted income of more than Rs. 1300 crore in Karnataka

18 November 2022 at 15:15

Income Tax Department initiated Search & Seizure actions on 20.10.2022 and 02.11.2022 on certain individuals who had executed Joint Development Agreements (JDAs) with various real-estate developers.

Posted in Income Tax | 7380 Views

Over 6.85 crore ITRs filed for FY22 so far

17 November 2022 at 12:17

Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta has confirmed that over 6.85 crore income tax returns have been filed so far for fiscal 2021-22. Moreover, the CBDT chairman said that the number is expected to go up further by December 31.

Posted in Income Tax | 4929 Views

IT dept conducts searches at Metropolis Healthcare in Mumbai

17 November 2022 at 08:35

The Income-tax department has conducted searches at the premises of Metropolis Healthcare in Mumbai that runs medical diagnostic centres.

Posted in Income Tax | 5907 Views

CBDT: Co-browsing feature made available for taxpayers

15 November 2022 at 08:34

FAQs related to the Co-browsing feature have been released by Income Tax Department.

Posted in Income Tax | 6060 Views

Gross Direct Tax collections for FY 2022-23 upto 10th Nov 2022 higher by 30.69% at Rs.10.54 lakh crore

12 November 2022 at 08:38

The provisional figures of Direct Tax collections up to 10th November, 2022 continue to register steady growth. Direct Tax collections up to 10th November, 2022 show that gross collections are at Rs. 10.54 lakh crore which is 30.69% higher

Posted in Income Tax | 3933 Views

IT raids on premises of Jalandhar industrialist, investor

11 November 2022 at 08:30

Teams of the Income Tax Department on Thursday conducted raids on the premises of city-based industrialist Sheetal Vij and investor Chander Shekhar Aggarwal.

Posted in Income Tax | 6156 Views

Unaccounted transactions of Rs 100 crore found during IT raids in Jharkhand

09 November 2022 at 10:08

A search and seizure action was initiated by the Income Tax Department on few business groups engaged in coal trading/ transportation, execution of civil contracts, extraction of iron ore and production of sponge iron, on 04.11.2022.

Posted in Income Tax | 7308 Views