Income Tax News

Income Tax Benefits Granted To 2975 DPIIT Recognised Startups

18 January 2024 at 09:14

In a significant update on the state of India's startup ecosystem, a senior official revealed on Monday that a total of 2,975 government-recognized startups have been granted income tax exemptions

Posted in Income Tax | 2538 Views

Income Tax Portal Unveils 'Authenticate Insight DIN' for Advanced Communication Security and Verification

16 January 2024 at 08:34

In a significant development aimed at enhancing the security and convenience for taxpayers, the Income Tax portal has introduced the innovative 'Authenticate Insight DIN' feature.

Posted in Income Tax | 8919 Views

New Income Tax Regime Faces Potential Tweaks for Further Enhancements

15 January 2024 at 08:31

Government sources, speaking on condition of anonymity, reveal that any further shift of taxpayers to the concessional personal income tax regime might necessitate additional tweaks for increased attractiveness.

Posted in Income Tax | 5418 Views

Income Tax Raid on 4 Noida Builders Yields Rs 1500 Crore Unaccounted Cash

15 January 2024 at 08:28

40 Teams, 250 Officials Deployed in Intensive 6-Day Search on Bhutani Infra, Group 108, Advent, and Logix

Posted in Income Tax | 6738 Views

Direct Tax Collections Soar: 80.61% of Budget Estimates Achieved in FY 2023-24

12 January 2024 at 11:36

Gross Direct Tax collections at Rs. 17.18 lakh crore with Y-o-Y growth of 16.77%, as on 10th January, 2024

Posted in Income Tax | 2457 Views

IT Dept conducts search operations in Mumbai engaged in the manufacturing of electrical items

12 January 2024 at 09:10

Income Tax Department initiated search and seizure operations in the case of a group, engaged in the manufacturing of wires and cables and other electrical items on 22.12.2023.

Posted in Income Tax | 2643 Views

Income Tax Department Mandates LEI for Non-Individuals with Refunds over Rs 50 Crore

11 January 2024 at 09:18

In a recent announcement, the Income Tax Department has introduced a new requirement for non-individual entities regarding the Credit of Refunds exceeding Rs. 50 crore.

Posted in Income Tax | 10683 Views

Assessment Year 2024 Poised for a 20% Drop in Late-Filed ITRs, Reveals Latest Report

11 January 2024 at 09:17

The State Bank of India's recent report on income tax filings reveals a significant uptick in the number of individuals filing income tax returns in the assessment year 2022-23 (AY23).

Posted in Income Tax | 2910 Views

Over 60% of Taxpayers adopt New Income Tax Regime

04 January 2024 at 09:00

Robust Growth in Tax Returns and Collections Signals Success of New Income Tax Regime

Posted in Income Tax | 6102 Views

Income Tax Department Releases Latest Excel-Based Utility for ITR-1 to ITR-7

03 January 2024 at 09:16

The Income Tax Department has recently launched an updated Excel-based utility for filing Income Tax Returns (ITR).

Posted in Income Tax | 7503 Views