Important Update: Income Tax Audits Now Accept Aadhaar OTP, Eliminating Need for Digital Signature
The Income Tax Department has announced that individual taxpayers undergoing tax audits no longer need a Digital Signature Certificate ( DSC ) to...
![Online Income Tax appeal and Stay Petition Concerning Assessment Order A.Y. 2020-21 filed beyond Statutory time limit: Kerala HC dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Kerala-High-Court-Income-tax-news-Income-tax-portal-taxscan.jpg "Online Income Tax appeal and Stay Petition Concerning Assessment Order A.Y. 2020-21 filed beyond Statutory time limit: Kerala HC dismisses Writ Petition [Read Order]")
Major Error in data of the securities market (SFT-17): Income Tax Compliance Portal shows inflated Income, shows Rs. 450 as 45000
SFT-17 Error in data populated from reporting entities caused a shock to taxpayers with transactions in the securities market, where income of Rs. 450 was shown as Rs. 45000. Notably, the Income...
No Liability arises as Revenue failed to issue Demand Notice with respect to Interest component of FBT: ITAT grants relief to Sony India [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) while granting relief to Sony India the bench held that liability does not arise since failure to demand notice with respect to interest...
![No Liability arises as Revenue failed to issue Demand Notice with respect to Interest component of FBT: ITAT grants relief to Sony India [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Sony-India-tax-case-Fringe-Benefit-Tax-Sony-India-taxscan.jpg "No Liability arises as Revenue failed to issue Demand Notice with respect to Interest component of FBT: ITAT grants relief to Sony India [Read Order]")
Settlement of Outstanding Income Tax Demands: Know How to Check Status in Portal and Address Queries
The Finance Minister, in her budget speech 2024, has announced the remission and extinguishment of specific outstanding direct tax demands. The Central Board of Direct Taxes ( CBDT ) has also issued...
Income Tax TRACES Portal new functionality: Dept enables lower/nil TDS Application Facility against Excessive TDS Deductions
In a recent TRACES Portal update, individuals encountering high TDS deductions beyond their tax liability under the Income Tax Act now have the opportunity to seek relief. By applying for a...
