Income Tax News

CBDT notifies statement of accumulation u/s 10(23C)

18 August 2022 at 08:45

Exercise of option etc. under Explanation 3 to the third proviso to clause (23C) of section 10 or section 11

Posted in Income Tax | 6549 Views

IT Department conducts searches in UP, over Rs 15 crore cash seized

13 August 2022 at 08:32

The Income Tax Department carried out a search operation on 03.08.2022 on a Jhansi based group, engaged in the business of civil contract and real estate development.

Posted in Income Tax | 1485 Views

IT Department conducts searches on big firms in Rajasthan & Maharashtra

12 August 2022 at 08:38

IT Department conducts searches in Rajasthan & Maharashtra

Posted in Income Tax | 1938 Views

CBDT enabled e-filing of ITR-U for AY 2020-21 and AY 2021-22 using Excel utility for ITR 7

11 August 2022 at 16:48

E-filing of Updated ITR u/s 139(8A) has also been enabled for ITR 7 for AY 2020-21 and AY 2021-22 using Excel utility.

Posted in Income Tax | 2523 Views

Income tax payers cannot join Atal Pension Yojana scheme from 1st Oct

11 August 2022 at 11:39

In the changed Atal Pension Yojana rules, an income tax payer will not be eligible to open Atal Pension Yojana account from 1st October 2022.

Posted in Income Tax | 2 comments | 7401 Views

IT Dept conducts searches in Madhya Pradesh & Mumbai seizing a large number of incriminating documentary and digital evidences

11 August 2022 at 08:25

The Income Tax Department carried out a search operation on 14.07.2022 on a group engaged in the business of mining, sugar manufacturing and liquor.

Posted in Income Tax | 1191 Views

Banks approach CBDT seeking clarity on new TDS norm

09 August 2022 at 15:40

Banks have approached the Central Board of Direct Taxes (CBDT) for clarity on the scope of Section 194R of the Income Tax Act, as they fear the newly introduced provision will force them to deduct a 10% tax at source on incentives

Posted in Income Tax | 2760 Views

Various measures taken by Govt. contributed to increase in tax collection

09 August 2022 at 08:43

Various factors like rapid economic recovery post COVID, better compliances due to various measures taken by Government have contributed to increase in tax collection.

Posted in Income Tax | 1398 Views