News

As part of a special campaign, 30,161 taxpayers voluntarily revealed foreign assets of Rs.29,208 crore and foreign income of Rs 1,089.88 crore for the AY 2024-25.

30,161 Taxpayers declare Foreign Assets worth more than Rs.29,000 crores

The income tax department sent out numerous demand notices to advance taxpayers for interest payments. The notices ask taxpayers to pay interest charges until the processing date of their ITR.

Income Tax Processing ITR-U with Interest Demand u/s 234B

Articles

With the financial year 2024-25 coming to an end, businesses must maintain compliance with several tax regulations to avoid disallowances and penalties.

End of FY 2024-25: Compliance with Section 43B(h) for MSME Payments; Know Why It is Important?

The Income Tax Department has warned taxpayers on its official social media account to be careful of scams. According to their posts

Income Tax Department Issues on Fake IT Refund Scams

In a move to make tax payments easier, IT Department has increased the list of banks that accept payments through the e-Pay Tax service on the e-Filing Portal.

Income Tax e-Pay Tax service now enabled for Tamilnad Mercantile Bank; Check Details

Earlier, the tax department has issued a warning message. Now, the taxpayers started receiving summons under Section 131(1A) for donations made to political parties.

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30,161 Taxpayers declare Foreign Assets worth more than Rs.29,000 crores

Income Tax Processing ITR-U with Interest Demand u/s 234B

End of FY 2024-25: Compliance with Section 43B(h) for MSME Payments; Know Why It is Important?

Income Tax Department Issues on Fake IT Refund Scams

Income Tax e-Pay Tax service now enabled for Tamilnad Mercantile Bank; Check Details

Tax Alert: Income Tax sending Summons u/s 131(1A) for Donations made to Political Parties