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Deadline For Filing Revised Income Tax Return Extended To January 15: Tax Body
The last date for filing an Income Tax Return for the financial year 2023-24 was July 31, and for those who could not, the time was for filing a revised ITR with late fees was December 31, but now, the CBDT has extended this deadline to January 15.
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Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
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IRS Officer Ravi Agrawal Appointed Central Board of Direct Taxes Chairman
Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), the administrative body for the Income Tax Department.
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After Congress Complaint, Poll Panel To Verify Union Minister's Affidavit
Lok Sabha elections 2024: The ECI has directed the CBDT to verify potential mismatch - between actual and declared assets, and income - in affidavits filed by the BJP's Rajeev Chandrasekhar ahead of his candidature for the Lok Sabha el
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Cash Seizures Rise Ahead Of Elections In Five States, Says Tax Department
In the run-up to the assembly elections in five states, the Income Tax department has seized more unexplained cash as compared to elections held in those states earlier, CBDT (Central Board of Direct Taxation) chairman Nitin Gupta said on Wednesday.
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Analysing Swiss Bank Accounts Data Of Indians, Says Tax Body Chief
Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.
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Government Directs Online Gaming Companies to Deduct Tax at Source if Players Claim Their Winnings
Online gaming companies will be required to deduct taxes at source if players claim their net winnings, including bonuses or incentives, according to guidelines issued by the Central Board of Direct Taxes.
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Centre Proposes Changes To Tax On Angel Investors In Unlisted Entities
The Income Tax Department on Friday proposed to exempt Sebi-registered FPIs, pension funds and SWFs from the purview of angel tax.
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Over 40 Crores Of "Unaccounted" Income Detected After Raids On Bengal Firm
The income tax department has detected alleged black income of more than Rs 40 crore after it recently raided a West Bengal-based group "controlled" by a person with an active political background, the CBDT said Tuesday.
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Irregularities Worth Rs 1000 Crore Detected At Cooperative Banks In Karnataka: Tax Body
The Income-tax department has detected "bogus"expenditure and alleged financial irregularities worth Rs1,000 crore after it raided some cooperative banks in poll-bound Karnataka sometime ago, the CBDT (Central Board of Direct Taxes) said today.
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PAN Card, Aadhaar Card Linking Deadline Extended to June 30
PAN card and Aadhaar linking deadline has been extended till 30 June, the Central Board of Direct Taxes (CBDT) said in a notification today. The new deadline will offer some more time for taxpayers to link their PAN and Aadhaar. The earlier deadline was ending on March 31.
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3 New Electoral Trusts Approved, 15 Others Renewed
The Central Board of Direct Taxes has given approval to three new electoral trusts and renewed approval for 15 others.
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Centre Notifies Income-Tax Return Forms For 2022-23
The Central Board of Direct Taxes (CBDT), through a notification dated February 10, has notified ITR forms 1-6, ITR-V (verification form) and ITR acknowledgement form.
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Two-Thirds Taxpayers May Shift To New Regime In 2023-24: Tax Body
Central Board of Direct Taxes (CBDT) chairman Nitin Gupta has said that he expects at least 50-66 per cent (two-thirds) of the taxpayers to switch over to the new tax regime in the next financial year itself.
-
Centre Exempts Non-Resident Taxpayers From Electronic Filing Of Form 10F
The Central Board of Direct Taxes (CBDT) had in July made it mandatory for non-resident taxpayers to file Form 10F electronically to claim benefit of lower Tax Deducted at Source (TDS).
-
Deadline For Filing Revised Income Tax Return Extended To January 15: Tax Body
The last date for filing an Income Tax Return for the financial year 2023-24 was July 31, and for those who could not, the time was for filing a revised ITR with late fees was December 31, but now, the CBDT has extended this deadline to January 15.
-
Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
-
IRS Officer Ravi Agrawal Appointed Central Board of Direct Taxes Chairman
Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), the administrative body for the Income Tax Department.
-
After Congress Complaint, Poll Panel To Verify Union Minister's Affidavit
Lok Sabha elections 2024: The ECI has directed the CBDT to verify potential mismatch - between actual and declared assets, and income - in affidavits filed by the BJP's Rajeev Chandrasekhar ahead of his candidature for the Lok Sabha el
-
Cash Seizures Rise Ahead Of Elections In Five States, Says Tax Department
In the run-up to the assembly elections in five states, the Income Tax department has seized more unexplained cash as compared to elections held in those states earlier, CBDT (Central Board of Direct Taxation) chairman Nitin Gupta said on Wednesday.
-
Analysing Swiss Bank Accounts Data Of Indians, Says Tax Body Chief
Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.
-
Government Directs Online Gaming Companies to Deduct Tax at Source if Players Claim Their Winnings
Online gaming companies will be required to deduct taxes at source if players claim their net winnings, including bonuses or incentives, according to guidelines issued by the Central Board of Direct Taxes.
-
Centre Proposes Changes To Tax On Angel Investors In Unlisted Entities
The Income Tax Department on Friday proposed to exempt Sebi-registered FPIs, pension funds and SWFs from the purview of angel tax.
-
Over 40 Crores Of "Unaccounted" Income Detected After Raids On Bengal Firm
The income tax department has detected alleged black income of more than Rs 40 crore after it recently raided a West Bengal-based group "controlled" by a person with an active political background, the CBDT said Tuesday.
-
Irregularities Worth Rs 1000 Crore Detected At Cooperative Banks In Karnataka: Tax Body
The Income-tax department has detected "bogus"expenditure and alleged financial irregularities worth Rs1,000 crore after it raided some cooperative banks in poll-bound Karnataka sometime ago, the CBDT (Central Board of Direct Taxes) said today.
-
PAN Card, Aadhaar Card Linking Deadline Extended to June 30
PAN card and Aadhaar linking deadline has been extended till 30 June, the Central Board of Direct Taxes (CBDT) said in a notification today. The new deadline will offer some more time for taxpayers to link their PAN and Aadhaar. The earlier deadline was ending on March 31.
-
3 New Electoral Trusts Approved, 15 Others Renewed
The Central Board of Direct Taxes has given approval to three new electoral trusts and renewed approval for 15 others.
-
Centre Notifies Income-Tax Return Forms For 2022-23
The Central Board of Direct Taxes (CBDT), through a notification dated February 10, has notified ITR forms 1-6, ITR-V (verification form) and ITR acknowledgement form.
-
Two-Thirds Taxpayers May Shift To New Regime In 2023-24: Tax Body
Central Board of Direct Taxes (CBDT) chairman Nitin Gupta has said that he expects at least 50-66 per cent (two-thirds) of the taxpayers to switch over to the new tax regime in the next financial year itself.
-
Centre Exempts Non-Resident Taxpayers From Electronic Filing Of Form 10F
The Central Board of Direct Taxes (CBDT) had in July made it mandatory for non-resident taxpayers to file Form 10F electronically to claim benefit of lower Tax Deducted at Source (TDS).
