CBDT has issued a new notification announcing further amendments to the Income-tax Rules, 1962. Officially termed the Income-tax (Sixth Amendment) Rules, 2024, these changes will take effect on July 1st, 2024.
In a significant development, the Income Tax Department has levied a penalty of Rs 4,68,91,352 on Larsen & Toubro Ltd (L&T), as revealed in a recent regulatory filing. This penalty stems from tax proceedings related to the now-merged L&T
Income Tax Department has achieved a remarkable feat by seizing a staggering amount of Rs 1100 crore in cash and jewellery during the ongoing Lok Sabha elections, marking a remarkable 182% increase compared to the 2019 elections.
Income Tax Department has rolled out the much-awaited MAC utility for filing Income-tax Returns (ITRs) 1, 2, 3 and 4 for the AY 2024-25.
The Income Tax Department has made the ITR-5 form available for filing for the Assessment Year (AY) 2024-25. Taxpayers can now access both the offline and online utilities to submit their ITR-5 forms.
In a significant demonstration of discontent, over 50 employees of the Tamil Nadu Arasu Uzhiyargal Sangam gathered outside the Department of Treasuries and Accounts office in Saidapet on Wednesday.
In a significant development for Micro, Small, and Medium Enterprises (MSMEs), Finance Minister Nirmala Sitharaman announced on Tuesday that the government is open to repealing the recent changes to Section 43B of the Income Tax Act.
CBDT has released two significant notifications on May 27, 2024, introducing higher rates of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for individuals and entities failing to furnish their Income Tax Returns (ITR).
The Central Board of Direct Taxes (CBDT) has recently issued a notification detailing the process for the scrutiny of income tax returns (ITRs) for the financial year 2024-25.
The Central Board of Direct Taxes (CBDT) has officially notified "363" as the Cost Inflation Index (CII) for the financial year 2024-25.
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