Flooded with the inquiries from taxpayers and professionals facing difficulties with income tax filing, the income tax department has responded via twitter that the income tax portal is working fine and advised the stakeholders to

The Income Tax Department closely watches High Value Transactions and issues Income Tax Notices to the suspicious ones. It is important for Taxpayers to know the transactions to stay compliant and steer clear of Income

The Income Tax Department has informed that Income Tax Returns (ITR) filing has crossed over 5 crores till 27th July 2023 and over 2.69 crore ITRs are processed too. The department wrote in their twitter

The regular taxpayers filing their Income Tax Return are now getting intimation from the Income Tax Department in case the process of filing returns of income is not completed yet. Moreover, the intimations even contain

The Notice under Section 142(1) is usually served to call upon documents and details from the taxpayers and to take a particular case under assessment. The basic purpose is to inquire about the details of

Income Tax investigations at Mumbai led to the revelation of a syndicate of ground level operators active in converting banned currency notes into legal tenders for a commission. As part of the operation to nab the culprits,

The Income Tax Department has continuously been carrying out investigations since the de-monetisation of Old High Denomination (OHD) currency announced by the Government on 8th November, 2016. While Searches have been carried out in 291

The Income Tax Appellate Tribunal, Ahmedabad bench held that income tax claim not included in approved resolution plan of IBC is recoverable. The assessee engaged in the business of manufacturing and trading in MS ingots

Filing the income tax returns within the due date will not make your journey as a taxpayer easy. Presently, the department is verifying the refunds claimed by the taxpayers towards the TDS deductions in their

The Central Board of Direct Taxes (CBDT) has issued a notification re-designating of the income tax officers. As per the notification issued on Friday, “(a) Chief Commissioners of Income-tax as specified in Column (3) of

The income tax department has issued an instruction for the filing of form 10BD. The income tax Department has made live form 10BD, return of donation. 31st May is the last date for filing the

The Income Tax Excel-Based Utility for filing Income Tax Returns ITR-2 of Assessment Year AY 2023-2024 is available for download in the Self Service Portal. Taxpayers can visit the official website of the Income Tax

As part of the new ‘Project Insight’, introduced by the Government to unearth undeclared income or illegal wealth and nab tax evaders, the income tax department may access the information of evaders from their Facebook

As of July 18th, 2023, the Income Tax Department has received 3 crore income tax returns for Assessment Year (A.Y.) 2023-24. Out of these, 1.50 crore returns filed electronically (e-verified ITRs) have already been processed.

Up until July 11th 2023, 2 crores of income tax returns for the Assessment Year (A.Y.) 2023-24 have been filed, according to the Income Tax Department. The department anticipated receiving as many filings by July