Income Tax department News
Karnataka Energy Minister K J George stated that his recent interaction with the Income Tax Department was a routine check of company tax filings.
Advance tax is a way of paying your income tax in parts during the year, instead of paying it all at once at the end.
If you’ve chosen the concessional tax regime or want to claim certain exemptions then you still need to file your return and submit any necessary declarations by the July 31 deadline.
The Income Tax Department has issued a notice to Empuraan producer Antony Perumbavoor, seeking clarification on financial transactions related to his previous films Lucifer and Marakkar, following 2022 raids.
If you have claimed HRA but didn’t deduct TDS on rent and the tax Department may invalidate your claim.
Updated ITR Filing Deadline: The taxpayers are not allowed to file an updated return if their return is under investigation or scrutiny by the tax department.
The Central Board of Direct Taxes (CBDT) has developed a 16-point plan to identify and monitor cases of TDS non-compliance.
The Income Tax Department searched the properties of Tollywood producer Dil Raju, his family, and Mythri Movie Makers over financial investigations linked to recent films.
Women ITR Filing: Small states and Union Territories such as Jammu & Kashmir and Mizoram also recorded a sharp rise in women filing income-tax returns between 2019-20 and 2023-24.
The percentage of income tax collection from taxpayers earning less than Rs 10 lakh has reduced, from 10.17 per cent of the total tax paid in 2014 to 6.22 per cent in 2024.
There have been reports on social media and in the news about CBDT inquiries into cases where employees have inaccurately claimed HRA and rental expenses
According to officials, the message serves as an acknowledgment of the total TDS deposited during the final quarter and the previous financial year.
Infosys has received assessment orders for subsidiaries as well, totalling Rs 277 crore.
On Friday he persisted and visited the office of the Additional Superintendent of Police to file a formal complaint regarding the unauthorized transactions.
Responding to the IT notice, the Congress party accused the BJP of squeezing it financially and of using tax authorities against it ahead of Lok Sabha elections beginning April 19
Persons/entities who are not registered on the e-filing website have to first register themselves on the e-filing website.
The Congress had also accused the BJP government of "financial terrorism" and attempting to "cripple" its primary opposition.
Terming the deduction undemocratic, the Congress appealed that the department should not proceed further till the disposal of the stay application.
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