Income Tax Department of India: News
18 Dec 2024
Income Tax ReturnAttention taxpayers! Disclose foreign income ASAP or hefty face penalty
The Income Tax Department has reminded taxpayers to disclose any undisclosed foreign income or assets before the year ends.
16 Dec 2024
LifestyleDeciphering key income tax provisions for Indian taxpayers
Understanding the intricacies of the Income Tax Act in India is crucial for taxpayers to maintain compliance and optimize their tax liabilities efficiently.
29 Nov 2024
India PostHow to get a new PAN card instantly on email
The Income Tax Department has launched a new facility for taxpayers, allowing them to get their Permanent Account Number (PAN) through email.
12 Oct 2024
IndiaNet direct tax collection surges to ₹11.26L crore in FY24-25
India's net direct tax collection for the fiscal year 2024-25, has jumped by a whopping 18.35% to nearly ₹11.26 lakh crore till October 10, data from the Central Board of Direct Taxes (CBDT) showed.
07 Oct 2024
Central Board of Direct Taxes (CBDT)You can now suggest changes to Income-tax Act, 1961
The Central Board of Direct Taxes (CBDT) has constituted an internal committee to carry out an exhaustive review of the Income-tax Act, 1961.
30 Sep 2024
Central Board of Direct Taxes (CBDT)Income Tax audit report submission date extended: Check new deadline
The Central Board of Direct Taxes (CBDT) has extended the deadline for filing various audit reports, including the income tax audit report, for the previous year 2023-24.
13 Sep 2024
Tata Consultancy Services (TCS)Why thousands of TCS employees have received tax demand notices
A significant number of Tata Consultancy Services (TCS) employees have received tax demand notices from the Income Tax Department.
11 Sep 2024
BusinessAdvance tax deadline on September 15: Who needs to pay?
The deadline for the second installment of advance tax for FY 2024-25 is fast approaching, with the due date set for September 15.
09 Sep 2024
Income Tax ReturnWaiting on your ITR refund? Know reasons behind the delay
Many taxpayers in India are currently experiencing delays in receiving their income tax refunds, leading to frustration and confusion.
16 Aug 2024
Income Tax ReturnITR refund scam: How to spot it and protect yourself
The Income Tax Department of India is urging taxpayers to be vigilant against a recurring scam targeting ITR refunds for FY2023-24 (assessment year 2024-25).
01 Aug 2024
Income Tax ReturnWhat happens if you miss ITR filing deadline? Explained here
The Income Tax Department has not extended the deadline for filing income tax returns (ITRs) for the fiscal year 2023-24, which was set for July 31.
31 Jul 2024
Income Tax ReturnFiled ITR? Here's how to check your refund status online
The deadline for filing Income Tax Returns (ITRs) for the financial year 2023-24 is today, midnight.
30 Jul 2024
Income Tax ReturnWaiting for ITR refund? Here's how long it may take
An Income Tax Refund (ITR) is issued by the Income Tax Department when you've overpaid your taxes.
28 Jul 2024
Indian GovernmentTraveling overseas? Centre says tax clearance certificates are not mandatory
In response to public backlash on social media, the Indian government clarified today that tax clearance certificates are not mandatory for all overseas travelers.
23 Jul 2024
Nirmala SitharamanNew tax slabs announced in Union Budget 2024
In her budget speech, Finance Minister Nirmala Sitharaman announced updates to the new tax regime.
18 Jul 2024
Income Tax ReturnFiling done? Now verify ITR online with these simple steps
The Income Tax Department of India has made it mandatory for taxpayers to verify their Income Tax Return (ITR) within 30 days of filing.
13 Jul 2024
Income Tax ReturnIndia's net direct tax collection surges 19.5% to ₹5.74L crore
The Income Tax Department has reported a significant 19.54% increase in net direct tax collection for the fiscal year (FY) 2024-25 so far, reaching ₹5.74 lakh crore by July 11, 2024.
06 Jul 2024
Income Tax ReturnWhy you must file your ITR before July 31
The last date to file income tax returns (ITR) for the financial year 2023-24, corresponding to the assessment year 2024-25, is July 31, 2024.
25 May 2024
Central Board of Direct Taxes (CBDT)Income Tax Department sets FY25 Cost Inflation Index at 363
The Income Tax Department has released the Cost Inflation Index (CII) for the fiscal year (FY) beginning in April 2024.
14 May 2024
Central Board of Direct Taxes (CBDT)How to use Income Tax Department's new real-time feedback updates
The Income Tax Department of India, has announced a new feature in its Annual Information Statement (AIS), that offers taxpayers real-time updates on their feedback status.
06 May 2024
FinanceGodrej family's billion-dollar business restructuring won't attract tax: Here's why
The Godrej Group, a 127-year-old family-owned conglomerate, has recently declared its decision to split into two separate entities.
08 Apr 2024
Sanjay SinghAAP's Sanjay Singh mounts attack against BJP over electoral bonds
Sanjay Singh, an MP from the Aam Aadmi Party, has accused the Bharatiya Janata Party (BJP) of corruption in relation to electoral bonds.
01 Apr 2024
Congress Party'Won't recover dues during polls': Centre's breather for Congress
In a relief to the Congress ahead of the 2024 elections, the Centre told the Supreme Court on Monday that it will not act against the party to recover tax dues amounting to ₹3,500 crore.
31 Mar 2024
Ajay MakenCongress gets fresh income tax notice worth Rs. 1,745 crore
The Congress Party has received another income tax notice from the Income Tax Department totaling more than Rs. 1,745 crore.
29 Mar 2024
Congress PartyCongress gets Rs. 1,700 crore demand notice by I-T department
The Income Tax Department has issued a demand notice of Rs. 1,700 crore to the Congress on Friday, news agency ANI reported.
13 Mar 2024
Delhi High CourtDelhi HC rejects Congress plea in tax penalty case
The Delhi High Court on Wednesday rejected the Congress's plea to halt the income tax demand notice for the recovery of Rs. 105 crore in outstanding taxes.
08 Mar 2024
Congress PartyCongress's plea to stay action against its bank accounts dismissed
The Income Tax Appellate Tribunal (ITAT) has rejected the Congress Party's request to stay the Income Tax Department's actions against its bank accounts.
01 Mar 2024
DelhiRs. 50 crore-worth luxury cars seized from tobacco mogul's home
The Income Tax Department conducted raids in over 20 different locations, including Kanpur, Delhi, Mumbai, and Gujarat, linked to Banshidhar Tobacco Company, on Thursday.
09 Feb 2024
Income Tax ReturnIT Department alleges insurance companies evaded taxes worth Rs. 25,000cr
The Income Tax Department is about to issue tax demand notices totaling Rs. 25,000 crore by the end of March, to various insurance companies.
02 Feb 2024
Income Tax ReturnIncome Tax e-filing website unavailable from February 3-5: Here's why
The Income Tax department has announced that its e-filing portal will be temporarily unavailable from 2pm on February 3 to 6am on February 5, due to scheduled maintenance activities.
31 Dec 2023
Income Tax ReturnLast day to file ITR for FY2022-23 ends today
The clock is ticking for taxpayers, as the deadline to file Income Tax Returns (ITR) for the financial year 2022-23 is set for today (December 31).
13 Dec 2023
OdishaGeo-surveillance, managers questioned: Raids continue at Dhiraj Sahu's Jharkhand home
The Income Tax Department's marathon raids at Congress MP Dhiraj Sahu's residence in Jharkhand continued on Wednesday.
13 Dec 2023
BusinessAdvance tax payment deadline nears: All you need to know
The Income Tax Department has issued a reminder to taxpayers that the deadline for the third installment of advance tax payment is December 15, 2023.
11 Dec 2023
Congress PartyOver Rs. 350 crore cash seized from Congress MP-linked distillery
The Income Tax Department has so far seized Rs. 353 crore in cash from properties of an Odisha-based distillery group across three states.
10 Dec 2023
Rahul Gandhi'Whose money'—BJP questions RaGa over Rs. 300cr Congress MP-linked recovery
The Bharatiya Janata Party (BJP) on Sunday took a dig at Congress leader Rahul Gandhi after the Income Tax (I-T) Department recovered over Rs. 300 crore in cash from raided properties of an Odisha-based distillery group.
10 Dec 2023
Narendra Modi'Rs. 300cr and counting': Cash-counting at Congress MP-linked distillery expedited
The Income Tax Department has reportedly deployed additional manpower and machines to expedite the counting of cash seized during its raids on properties of an Odisha-based distillery group.
09 Dec 2023
Congress PartyI-T Department's Rs. 290cr 'biggest cash-recovery' linked to Congress MP
At least Rs. 290 crore in cash has reportedly been recovered by the Income Tax Department from premises linked to the Congress's Rajya Sabha MP Dheeraj Sahu in Odisha, Jharkhand, and West Bengal.
08 Dec 2023
Pinarayi VijayanKerala HC notice to CM Vijayan, daughter over bribery allegations
The Kerala High Court on Friday issued notices to Kerala's Chief Minister Pinarayi Vijayan, his daughter T Veena, and some other leaders seeking their response to a plea seeking an investigation into the bribery allegations against Veena's IT firm.
08 Dec 2023
Congress PartyOdisha: Rs. 100 crore recovered from almirahs of Congress MP
The Income Tax Department, on Friday, seized over Rs. 100 crore in cash from locations connected to Congress leader and Rajya Sabha MP Dheeraj Sahu in Odisha.
07 Dec 2023
OdishaOver Rs. 150cr recovered during raid at liquor manufacturing company
Income Tax (IT) Department officials conducted raids at multiple locations linked to Boudh Distilleries Private Limited (BDPL) on Wednesday and recovered significant amounts of cash in the last two days.
23 Nov 2023
IndiaBudget 2024 gunning for 10.5% rise in direct tax collections
The Union Budget 2024 aims for a 10.5% increase in direct tax collections, despite a sluggish global economy and a high revenue base in the current fiscal year, Moneycontrol has reported.
14 Nov 2023
InsuranceAviva Life Insurance's India office searched for alleged tax evasion
Income Tax Department officials recently conducted a search at the New Delhi office of Aviva Life Insurance, a subsidiary of the UK-based insurance giant.
01 Nov 2023
Income Tax Return7.85cr ITRs filed till October 31, highest ever in India
The filing of Income Tax Returns (ITR) has reached a record-breaking milestone in 2023, with 7.85 crore filings documented by October 31 in FY23-24.
10 Oct 2023
Central Board of Direct Taxes (CBDT)35 lakh income tax refunds delayed in India: Here's why
Income tax refunds for around 35 lakh taxpayers are currently "held up" due to mismatch and validation issues with their bank accounts, as per Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta.
04 Oct 2023
Delhi PoliceNewsClick founding-editor, HR head sent to 7-day police remand
NewsClick founder and Editor-in-Chief, Prabir Purkayastha, along with the news portal's Human Resources (HR) head, Amit Chakravarty, have been sent to a seven-day police remand.
29 Aug 2023
BusinessFirstCry founder under IT scanner over alleged $50mn tax evasion
Supam Maheshwari, founder of FirstCry, Globalbees Brands, and Xpressbees, is facing an investigation by the Income Tax Department of India for allegedly evading over $50 million in taxes.
26 Aug 2023
IndiaI-T Department launches revamped website for ease of taxpayers
The Income Tax Department has launched a revamped website boasting a user-friendly interface, value-added functionalities, and new modules.
31 Jul 2023
Income Tax ReturnWhat happens if you miss Income Tax Return deadline
The deadline to file your Income Tax Returns (ITR) for 2023 is today, July 31.
