Income Tax News

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

CBDT issues conditions, forms to get IT exemption on COVID-19 help money

08 August 2022 at 08:45

Conditions, forms to get IT exemption on Covid 19 help money

Posted in Income Tax | 5016 Views

CBDT notifies condition for claiming tax exemption for receiving ex-gratia amount due to COVID-19

08 August 2022 at 08:45

Condition for claiming tax exemption for receiving ex-gratia amount due to COVID-19

Posted in Income Tax | 5415 Views

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