News

As part of implementation of the e-Verification Scheme, 2021, CBDT has initiated Online Effort to Help Taxpayers Correct Income Mismatches

CBDT Initiates Online Effort to Help Taxpayers Correct Income Mismatches

Income Tax Department has Recovered Rs 37,000 Crore from Non-Filers Over 20 Months on basis of high value transactions and TDS

Income Tax Department Recovers Rs 37,000 Crore from Non-Filers Over 20 Months

Notifications

CBDT issued a notification amending its previous notification (No. 44/2020) issued on July 6, 2020, under Section 10(23FE) of the Income-tax Act of 1961.

CBDT amended Income Tax Notification on Tax Exemptions u/s 10(23FE) of IT Act

Judgement

The Commissioner of Income Tax (Appeals) [CIT(A)] ruled in favour of an appellant, directing the Assessing Officer to allow the rebate under Section 87A of the Income Tax Act, 1961.

CIT(A) directs AO to allow Rebate under Section 87A on STCG earlier Disallowed by Portal during ITR Processing FY 2023-24

In a historic milestone, the Tax Department of India processed over 1.62 crore Income Tax Returns (ITRs) in a single day for the Assessment Year (AY) 2024-25.

India Sets New Record: Tax Department Processes 1.62 Crore ITRs in a Single Day

Articles

A maximum rebate of Rs.25,000 is allowed to an individual under Section 87A if the total income does not exceed Rs.7,00,000. who is opting for the new tax scheme under Section 115BAC(1A).

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CBDT Initiates Online Effort to Help Taxpayers Correct Income Mismatches

Income Tax Department Recovers Rs 37,000 Crore from Non-Filers Over 20 Months

CBDT amended Income Tax Notification on Tax Exemptions u/s 10(23FE) of IT Act

CIT(A) directs AO to allow Rebate under Section 87A on STCG earlier Disallowed by Portal during ITR Processing FY 2023-24

India Sets New Record: Tax Department Processes 1.62 Crore ITRs in a Single Day

Income Tax Rebate: A New Confusion for FY 2024-25