Login  |  Register  |  Forgot Password 
Below Login Ad

News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : Income Tax

SC refused to interfere in High Court's Guidelines on Reopening of Income Tax Assessments
Posted Date : 16-Feb-2024 , 04:03:49 pm | Posted By CASANSAAR

The Supreme Court has refused to interfere with a 2017 Delhi High Court judgment which issued a set of guidelines to the Income Tax Department regarding the reopening of assessments.  A bench comprising Justice PS Narasimha and Justice Aravind Kumar dismissed a Special Leave Petition filed b...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1318

Income Tax e-filing portal to be down for maintenance from Feb 3 to 5
Posted Date : 01-Feb-2024 , 08:13:53 am | Posted By CASANSAAR

The Income Tax department on Wednesday said that services for taxpayers on the e-filing portal will not be available between February 3 and early February 5 on account of scheduled maintenance. “…taxpayer services on the e-filing portal will be restricted from 2 pm on Saturday (03....

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1110

Income tax Department introduces new ‘Discard ITR’ facility on Income Tax Website
Posted Date : 29-Nov-2023 , 07:21:13 am | Posted By CASANSAAR

The income tax (I-T) department has introduced a crucial functionality on its website allowing taxpayers to discard their previously filed but unverified Income Tax Returns (ITR). Earlier, taxpayers were allowed to revise the ITR only in case of error or omission. “The income tax portal has...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 548

Delhi HC imposes Rs 2 lakh fine on ex-Bharat Pe MD Ashneer Grover for derogatory posts
Posted Date : 29-Nov-2023 , 07:18:00 am | Posted By CASANSAAR

The Delhi High Court on November 28 imposed a fine of Rs 2 lakh on Ashneer Grover, the former Managing Director and co-founder of Bharat Pe, for sharing inappropriate posts about Bharat Pe. The action, however, was taken despite Grover giving assurance to the court that he would refrain from doing s...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 370

CBDT Amended ITR-7 Permitting Assesses Taxable Income to File ITR-7 for AOPs Tax Rate
Posted Date : 22-Nov-2023 , 08:10:32 am | Posted By CASANSAAR

The Central Board of Direct Taxes (CBDT) through its Notification No. 94/2023 dated 31/10/2023 has introduced changes to the ITR-7 form to accommodate the taxable income of individuals eligible to file the ITR-7 form under the tax rates applicable to AOP, which aligns with the slab rates applicable ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 781

Income Tax Returns filed by individual taxpayers registered increase of 90%
Posted Date : 28-Oct-2023 , 07:53:34 am | Posted By CASANSAAR

Income Tax Returns filed by individual taxpayers have registered an increase of 90 per cent from 3.36 crore in Assessment Year 2013-14 to 6.37 crores in 2021-22.  Finance Ministry said, the average gross total income for individual taxpayers have registered an increase of 56 percent from 201...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 325

Supreme Court rejects lower tax on dividend under treaties
Posted Date : 21-Oct-2023 , 08:28:58 am | Posted By CASANSAAR

In a big win for revenue authorities, the Supreme Court has held that the provisions of the 'Most Favoured Nation' clause in a tax treaty are not triggered automatically and a separate notification is required. The SC's order is likely to result in re-opening of several high-value cases,...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 460

Simplified e-procedure for nil and lower TDS certificates effective from October 1
Posted Date : 04-Oct-2023 , 08:45:34 am | Posted By CASANSAAR

If you are eligible for lower or NIL or lower TDS (Tax Deducted at Source) under Income Tax Act, filing for the certificate will be much easier as the Income Tax Department has finalised the e-procedure for the process. The new mechanism has come into effect from October 1. An assessee must compl...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 2203

CBI registers corruption case against former Income-Tax Additional Commissioner and others
Posted Date : 16-Sep-2023 , 10:03:53 am | Posted By CASANSAAR

The Central Bureau of Investigation (CBI) has registered an alleged corruption case against a former Additional Commissioner of Income Tax, Santosh Karnani, his wife, one director of an Ahmedabad-based firm and others. It is based on the findings of another case taken over by the agency in Octobe...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 2104

Govt plans to reduce income tax refund processing time
Posted Date : 25-Aug-2023 , 08:23:48 am | Posted By CASANSAAR

The income tax department is planning to reduce the average processing time for getting tax refunds. As per a report in Business Standard, the tax department is mulling over the reduction of days to 10 from the current 16 days. The report says that the new timeline is expected to be implemented d...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 510

Delhi HC dismisses Ashneer Grover's plea against income tax notice issued under Black Money Act
Posted Date : 04-Aug-2023 , 07:36:03 am | Posted By CASANSAAR

The Delhi High Court on Tuesday dismissed a plea filed by Ashneer Grover, former managing director of BharatPe, challenging an income tax notice issued to him under Section 8 of the Black Money Act.  The high court asked Grover's counsel to withdraw the petition voluntarily, or the court...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 995

Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
Posted Date : 25-Jul-2023 , 01:32:36 pm | Posted By CASANSAAR

CLICK ON THE LINK FOR COMPLETE VIDEO, https://youtu.be/bbla_-LmrJQ A cavalier attitude towards filing of income tax returns (ITRs), complete with fake rent receipts from close relatives, extra claims against home loans, false donations and a slew of dodgy practices encouraged by some of the ta...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 336500

Interest rate on deposits under EPF scheme hiked to 8.15% for FY 2022-23
Posted Date : 25-Jul-2023 , 07:55:11 am | Posted By CASANSAAR

The government has approved an interest rate of 8.15 percent on deposits under the Employees Provident Fund scheme for the financial year 2022-23. According to the Employees' Provident Fund Organization (EPFO), the Ministry of Labour and Employment has conveyed the approval of the Central gov...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 270

Income tax dept processed 1.5 Cr ITRS of total 3 Cr filed
Posted Date : 20-Jul-2023 , 07:12:55 am | Posted By CASANSAAR

Over 3 crore ITRs for income earned in 2022-23 fiscal have been filed so far, out of which 91 per cent have been verified electronically, the income tax department said on Wednesday. "Out of the 3.06 crore ITRs filed till 18th July, 2023, 2.81 crore ITRs have been e-verified i.e. more than 9...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 627

ED arrests former I-T officer, 2 Associates in Rs 263-crore TDS scam
Posted Date : 15-Jul-2023 , 06:53:35 am | Posted By CASANSAAR

The Enforcement Directorate (ED) on Friday arrested former Income-Tax (I-T) officer Tanaji Mandal Adhikari and his associates Bhushan Patil and Rajesh Shetty in connection with a Rs 263-crore TDS scam. Adhikari allegedly generated fake TDS (Tax Deducted at Source) refunds to the tune of Rs 263 crore...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1215

Brought GST under PMLA purview to empower investigators in fighting financial fraud - Centre
Posted Date : 13-Jul-2023 , 08:26:45 am | Posted By CASANSAAR

The Centre’s move to bring the Goods and Services Tax Network (GSTN) under the purview of the Prevention of Money Laundering Act (PMLA) was to empower the relevant investigating agencies to deal with tax fraud and money laundering matters, and not giving outright access to data to any party, s...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 587

Income Tax Dept issues clarification on PAN-Aadhaar linking
Posted Date : 01-Jul-2023 , 09:59:02 am | Posted By CASANSAAR

Kind Attention PAN holders! Instances have come to notice where PAN holders have faced difficulty in downloading the challan after payment of fee for Aadhaar-PAN linking.  In this regard, it is to be informed that status of challan payment may be checked in ‘e-pay tax’ tab of ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1564

Income Tax Department Conducts Verification of Reporting Entities
Posted Date : 01-Jul-2023 , 09:38:06 am | Posted By CASANSAAR

The Income-Tax Department has been focusing its efforts on promoting voluntary compliance. In this endeavour, information is received about financial transactions of taxpayers from Reporting Entities, such as Banks, Forex Dealers, Sub-Registrars, etc. The information furnished by the Reporting Entit...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1202

Income Tax Dept tweaks disclosure norms for Charitable Institutions
Posted Date : 27-Jun-2023 , 08:58:41 am | Posted By CASANSAAR

The income tax department has tweaked disclosure norms for charitable institutions claiming I-T exemption by seeking additional details. As per amendments to the Income Tax Rules, which will come into effect from October 1, charitable institutions will have to now disclose whether the activities ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 738

Govt seeks applications for hiring 15 judicial, technical members at NCLT, NCLAT
Posted Date : 09-Jun-2023 , 10:08:15 am | Posted By CASANSAAR

The Government has sought applications for a total of 15 positions of judicial and technical members at the National Company Law Tribunal (NCLT) as well as the appellate tribunal NCLAT. As many as 15 posts, including that of 5 judicial members and 5 technical members, are to be filled up at the...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 672

Income Tax Dept. to conduct Scrutiny where assessees failed to respond to I.T. Notices
Posted Date : 29-May-2023 , 10:21:25 am | Posted By CASANSAAR

The Income Tax department has come out with guidelines for selection of cases for scrutiny, under which cases wherein assessees have not responded to I-T notices will be picked up for compulsory examination. The department will also undertake cases for scrutiny where specific information regarding t...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 3112

Income Tax exemption limit for leave encashment on retirement for salaried employees hiked to Rs 25 lakh
Posted Date : 26-May-2023 , 09:55:45 am | Posted By CASANSAAR

In line with the Budget announcement, the finance ministry on Thursday hiked the tax exemption limit for leave encashment upon retirement for private sector salaried employees to Rs 25 lakh. So far, the tax exemption on leave encashment for non-government employees was Rs 3 lakh which was fixed...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 705

RBI imposes Rs 2.9 Crore Penalty on Canara Bank
Posted Date : 13-May-2023 , 08:25:32 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Friday, May 12, imposed a penalty of Rs 2.92 crore on Canara Bank for non-compliance with certain provisions of directions issued by the central bank. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the val...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1023

SC ruling on Income Tax Searches, Big relief to taxpayers
Posted Date : 26-Apr-2023 , 11:17:14 am | Posted By CASANSAAR

The Supreme Court has held that the income tax (I-T) department cannot reopen completed assessments under the Section 153A of the I-T Act, unless “incriminating material” is unearthed during search and seizure operations. Any other material emanating from the search can’t be relied...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1552

NFRA imposes fine, debars auditors for 3 yrs for professional misconduct
Posted Date : 24-Apr-2023 , 07:47:20 am | Posted By CASANSAAR

The National Financial Reporting Authority (NFRA) has imposed a fine and a three-year ban on two auditors for professional misconduct and other lapses in connection with the audit of SRS Ltd in 2017-18. In two separate orders, NFRA slapped a fine of Rs 3 lakh each on auditors — Pankaj Kumar an...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 950

Income Tax department sends Notices over Donations to Charitable Trusts
Posted Date : 21-Apr-2023 , 12:14:08 pm | Posted By CASANSAAR

The income tax department in India has issued notices to around 8,000 taxpayers on account of them making large donations to charitable trusts, which are believed to be attempts to evade paying tax.  Tax officials say that these individuals and entities have made donations not commensurate w...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 5402

Mere Delay in TDS remittance shall not attract penalty u/s 271C - SC
Posted Date : 13-Apr-2023 , 08:02:13 am | Posted By CASANSAAR

The Supreme Court (SC) on Monday held that the delay in remitting tax deducted at source (TDS) by assessees is not liable for penalty. It stated the revenue department should adopt a literal interpretation of the penal provision. While allowing the assessee to appeal against the Kerala High Court...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1396

CBDT notifies Cost inflation index (CII) for FY 2023-24 / AY 2024-25
Posted Date : 12-Apr-2023 , 06:20:15 am | Posted By CASANSAAR

The Central Board of Direct Taxes (CBDT) has notified the cost inflation index (CII) number for the current financial year 2023-24.  As per the notification dated April 10, 2023, the CII number for the current fiscal is 348. This CII number will be used to calculate the capital gains accrued...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 415

RBI announces a Central Portal to Check Unclaimed Money from Inoperative Bank Accounts
Posted Date : 07-Apr-2023 , 06:48:49 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) Governor Shaktikanta Das, who surprised everyone by holding interest rates, on April 6 also announced a centralised web portal for the public to search unclaimed deposits. "At present, the depositors and beneficiaries of unclaimed bank deposits of 10 years or ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1481

Net direct tax collections grow to Rs 16.61 lakh Cr., exceeds estimates by 17.6%
Posted Date : 04-Apr-2023 , 08:45:30 am | Posted By CASANSAAR

The provisional figures of Direct Tax collections for the Financial Year (FY) 2022-23 show that Net collections are at Rs. 16.61 lakh crore, compared to Rs. 14.12 lakh crore in the preceding Financial Year i.e. FY 2021-22, representing an increase of 17.63%. The Budget&...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 414

News By Categories

More Categories

Search News

 
 
 

Fresh Income tax news only on casansaar covering details for  Income tax return,efiling, calculator,refund, income tax slab,forms,rates  etc in india 

www.casansaar.com
...keeps you updated

Home

  |  News

  |  Articles

  |  Discussion

  |  CA Firms

 |  Members

 |  CA Community

 |  Jobs

 |  Empanelment

 |  Files

 |  Matrimonial

 |  Students zone

 |  Queries

 |  Classified Ads

 |  Events

 |  About us

 |   Top Members

 |  Coaching Centres

  | Testimonials

 | Judiciary

 | Videos

 | Notifications/Circulars

 | Book

 | eDirectory

 | Interview

 | Website

 | Emails

 | Software

 |  Score Board

 |   Press Release  

 |   Blood Bank  

  |   Opinion Poll  

  |   Feedback
 |   Advertise us

 |   Terms & Conditions

 |   Refund Policy

 |   Contact us
 |   Blog

  |   Sitemap

  |   Auditing

  |   Bank

  |   Bank branch audit

  |   Banking

  |   Black Money

  |   CA

  |   CA Announcement

  |   TDS

  |   Students Zone

  |   Custom

  |   VAT

  |   Service Tax

  |   Corporate Law

  |   General

  |   Excise

  |   SEBI

  |   Finance

  |   GST

  |   ICAI

  |   FEMA

  |   ICWAI

  |   ICSI

  |   DGFT

  |   RBI

  |   IFRS

  |   CAG

  |   Budget

  |   Merger & Acquisitions

  |   International Business

  |   Shares & Stock

  |   Excel Tips

  |   International Taxation

  |   ITR

  |   Chartered Accountant

  |   Tax Audit

  |   Companies Act

  |   Money Laundering

  |   MCA

  |   Income Tax Refund

  |   NPA

  |   Income tax software

  |   CST

  |   CA Exams

  |   CA Results

  |   CBDT

  |   Accounting Standards

  |   DIN

  |   Judical Announcement

  |   MDP

  |   PAN

  |   Whats App

  |   Secretarial Standards

  |   NGO

  |   CA Convocation

  |   Finance Bill

  |   ICAI Notification

  |   CARO

  |   COMPANIES SECRETARY

  |   Accounts

Follow Us : Twitter Icon Facebook Icon Orkut Icon Linkedin Icon Linkedin Icon
Developed By: CASANSAAR Copyright © casansaar

Top Accounting Firms,CA COMMUNITY,CA SANSAAR,Chartered Accountant,Ca Networking Firms,Partner Portal,Ca Assignments,CA,Online Communities For Chartered Accountant,Circle For Ca,CS,CMA and FINANCE,Articles By CA / CS / CMA,accounting news articles,Ca Firms In Delhi,CA ANNOUNCEMENT

accounting jobs,article trainees,best website creator,empanelment,income tax slab, ITR, TDS Chart,budget of india 2014-15,gst,auditing,Income tax,students zone,cpt,community matrimony for ca,Classified Ads,Community Matrimony For Ca,Students Zone,Coaching Classes,Company Secretary,Cost Accountant,Judiciary.