Income Tax News

IRS officer Rakesh Kumar promoted as Commissioner of Income Tax

06 August 2022 at 08:43

Rakesh Kumar an IRS officer of 2004 batch from Jammu has been promoted as Commissioner of Income Tax.

Posted in Income Tax | 8808 Views

IT Department conducts raid in more than 25 premises

06 August 2022 at 08:43

The Income Tax Department carried out a search and seizure operation on 28.07.2022 on an ex-fund manager and chief trader of equities of a prominent mutual fund house along with related sharebrokers, middlemen and entry operators.

Posted in Income Tax | 9126 Views

IT Department conducts searches on Healthcare Provider Groups in Haryana and Delhi-NCR

04 August 2022 at 08:47

The Income Tax Department carried out search and seizure operations on 27.07.2022 on several groups engaged in the healthcare services by running hospitals.

Posted in Income Tax | 1146 Views

CBDT amends Rule 21AK for exemption u/s 10(4E)

03 August 2022 at 08:48

The Central Board of Direct Taxes (CBDT) on August 1, 2022 has issued the Income-tax (Twenty Third Amendment) Rules, 2022 to further amend the Income-tax Rules,1962.

Posted in Income Tax | 8712 Views

IT raids on conglomerate unearthed unaccounted transactions exceeding Rs.1000 crore

03 August 2022 at 08:48

The Income Tax Department carried out a search and seizure operation on 20.07.2022 on a prominent business conglomerate engaged in diversified fields of Textiles, Chemicals, Packaging, Real estate and Education.

Posted in Income Tax | 6432 Views

New record of over 72.42 lakh (7.24m) ITRs filed on a single day

02 August 2022 at 08:43

The Department expresses its gratitude to taxpayers and tax professionals for making compliances in time leading to a surge in filing of Income Tax Returns (ITRs) resulting in a new record of ITRs filed on a single day.

Posted in Income Tax | 3 comments | 7005 Views

Time limit for verification reduced to 30 days for return filed after 1st Aug

01 August 2022 at 11:31

Reduction of time limit for verification of Income Tax Return (ITR) from within 120 days to 30 days of transmitting the data of ITR electronically

Posted in Income Tax | 17181 Views

IT Department conducts search operation on two business groups in Tamil Nadu

29 July 2022 at 09:00

Income Tax Department carried out a search and seizure operation on 20.07.2022 on two business groups; one engaged in real estate, and the other in contracts related to road and railway construction.

Posted in Income Tax | 1848 Views

CBDT lays down procedure of PAN application & allotment through simplified proforma for incorporating LLPs electronically

28 July 2022 at 08:42

Procedure of PAN application & allotment through Simplified Proforma for incorporating Limited Liability Partnerships (LLPs) electronically {Form: FiLLiP} of Ministry of Corporate Affairs.

Posted in Income Tax | 3921 Views

CBDT observed 163rd anniversary of Income Tax

25 July 2022 at 08:28

The 163rd anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India today. As part of the celebrations, the field formations held a number of events and activities.

Posted in Income Tax | 3615 Views