The Prime Minister, Shri Narendra Modi, today addressed tax administrators at the Rajasva Gyan Sangam. This is the first time that the two revenue boards – the Central Board of Direct Taxes (CBDT), and the

In a move aimed at ensuring tax compliance and transparency, the Income Tax Department has initiated an e-campaign targeting individuals and entities engaged in significant financial transactions during the Financial Year 2023-24 (A.Y. 2024-25). The

Regarding potential inconsistencies identified between the information provided in taxpayers' Income Tax Returns ( ITRs ) and the Department's records of specific financial transactions for the assessment year 2021–22 ( financial year 2020–21 ), the

The Institute of Chartered Accountants of India ( ICAI ) has reportedly asked the govt to bring back audit and certification provisions relating to GST annual returns. The Institute said that doing away with audit

The Finance Minister Nirmala Sitharaman has announced the extension of Payment date under Sabka Vishwas Scheme shall be extended to 30th June, 2020. The Finance Minister also said that, No interest for this period shall

The Income Tax Department, using the platform 'X,' formerly recognized as 'Twitter,' has provided a guarantee of source authentication/e-verification in response to any uncertainties or concerns arising from the financial transactions displayed in the Annual

The GST collections have increased in the months of Jan. 2018 in comparison to previous two months. This was stated by Ship Pratap Shukla, Minister of State for Finance in a written reply to a question

The Income Tax Department under the Central Board of Direct Taxes (CBDT) has conducted the verification of the reporting entities. The Income-Tax Department proactively encourages taxpayers' voluntary compliance. The department gets data on financial transactions

The Income Tax Department has conferred the Silver Award in the National Awards on e-Governance-2016-17 for the e-filing of Income Tax returns and other forms project in the category “Incremental Innovations” in existing projects. The

The Economic Survey 2023, tabled before the parliament by the Financial Minister Nirmala Sitharaman reviews the performance of the Indian economy to date and lays the road ahead for the next fiscal year. The reforms

The Madras High Court held that there is no scope for the High Court to interfere when Customs, Central Excise & Service Tax Settlement Commission remads matters to the Adjudicating Authority. The petitioner, M/s.Diksat Transworld

Recognizing their critical contribution in supporting the economy especially during the present difficult times of the COVID-19 pandemic, the Central Board of Indirect Taxes & Customs (CBIC) has taken a new initiative to introduce its

The Ministry of Finance has revealed the details of settlements done under the Sabka Vishwas – Legacy Dispute Resolution Scheme. The details of the total amount of funds that are locked up in cases at

The Central Board of Direct Taxes ( CBDT ) has released a press release on e-Verification Scheme, advising income taxpayers to file updated returns in case of unreported or underreported income. Notably, the Income Tax

The Union Minister of Finance & Corporate Affairs Smt Nirmala Sitharaman exhorted the Income Tax officers to be prompt in redressing the grievances of the tax payers and expand the tax base in a non-intrusive