News

Notice will be sent to Taxpayers against whom the Department is having Definitive Information of Income Tax Evasion.

Income Tax Department to issue notices to Non-Fillers of ITRs and TDS Dedutees

As per the CBDT order for waiver of Demand dated 13th February no remission will be made for Outstanding TDS/TCS Demands.

Settlement of Outstanding Income Tax Demand as per Budget 2024: Know the Process

Orders

As per the announcement made in FMs Budget Speech, recovery of the old outstanding demands up to INR 25,000 for the period up to financial year 2009-10 and up to INR 10,000 for financial years 2010-11 to 2014-15 shall be waived off.

CBDT to waive off tax demand capped at Rs. 1 lakh outstanding as of Jan 31, 2024 [Read Order]

For Section 44AD, the revised limit for opting Income Tax Presumptive Taxation Scheme from Assessment Year 2024-25 is Rs. 3 crore.

All About New Limits of Income Tax Presumptive Taxation Scheme For Section 44AD

Donations to political parties through electoral bonds in FY24 would still be able to claim benefits of 100% tax deduction while filing their returns before July 31.

Tax Relief on Electoral Bond Donations remains intact in FY 24

Individuals who have received substantial TDS deductions over their tax liability under IT Act can now seek relief, according to a recent TRACES Portal update.

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Income Tax Department to issue notices to Non-Fillers of ITRs and TDS Dedutees

Settlement of Outstanding Income Tax Demand as per Budget 2024: Know the Process

CBDT to waive off tax demand capped at Rs. 1 lakh outstanding as of Jan 31, 2024 [Read Order]

All About New Limits of Income Tax Presumptive Taxation Scheme For Section 44AD

Tax Relief on Electoral Bond Donations remains intact in FY 24

Income Tax Department enables lower/nil TDS Application New Facility against Excessive TDS Deductions on TRACES Portal