The income tax rebate limit available for salaried and individual taxpayers under the new income tax regime has been hiked to Rs 7 lakh from the present Rs 5 lakh.
Taxpayers' Lounge aims to foster awareness about the services provided by the I-T department and to showcase its various initiatives in the areas such as digitalization, transparent taxation, online grievance redressal, e-PAN and e-filing for easing compliance.
These raids were done on a few business groups engaged in coal trading/ transportation, execution of civil contracts, extraction of iron ore and production of sponge iron on November 4, 2022. Those searched include two politically exposed persons and their associates. The searches were ca
The official statement from finance ministry said, "In view of the representations received by Central Board of Direct Taxes (CBDT) and with a view to avoid genuine hardship to taxpayers, the CBDT condones the delay in filing of Form 10A up to November 25, 2022 in respect of certain provisio
Under sub-Section (1) of Section 139 of the Income-Tax Act, 1961 (the Act) for the Assessment Year 2022-23, the CBDT had extended the due date to November 7, 2022, for the category of assessees for whom the due date falls on October 31, 2022.
New Delhi [India], September 18 (ANI): Net direct tax collections so far this financial year are at Rs 700,669 crore, an increase of 23 per cent as compared to Rs 568,147 crore till the same period of the corresponding financial year, a Central Board of Direct Taxes statement said on Sunday.
New Delhi [India], September 17 (ANI): The Central Board of Direct Taxes (CBDT) has issued revised guidelines with regards to the compounding of offences under the Income Tax Act, 1961, in conformity with the government's policy of facilitating Ease of Doing Business and decriminalisation of
New Delhi [India], August 26 (ANI): Gross tax collections this year are 38 per cent higher when compared with the previous year, Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said on Friday.
New Delhi [India], August 26 (ANI): Raids, searches, surveys and notices conducted by Income Tax authorities are always based on credible information, said Nitin Gupta, new Chairman at Central Board of Direct Taxes (CBDT).