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Income Tax Department is committed to process ITRs in a speedy and efficient manner. As on 05.09.2023, 6.98 crore ITRs for AY 2023-24 were filed, out of which 6.84 crore ITRs have been verified.

88% of the verified ITRs for AY 2023-24 processed as on 05.09.2023

The Income Tax Department has issued clarification that the inaccuracy in the 80P deduction notice was delivered accidentally.

Income Tax Department issues Clarification on Notices Mistakenly Sent Under Section 80P

Union Finance Minister Nirmala Sitharaman stated that August income tax data is most significant indicator of Indian economy's widespread formalisation.

Minimum three times surge in ITR filing in all Tax Slab: FM Nirmala Sitharaman

Articles

Section 269ST was introduced in Income Tax Act in 2017. Under this sec, no person can receive a payment above Rs.2 Lakhs in a single day.

Case Studies on Section 269ST of Income Tax

To give relief to small taxpayers from tedious job of maintenance of books of account and getting it audited, Income tax Act has framed Presumptive Taxation Scheme.

Interplay of Presumptive Taxation Scheme, Tax Audit and Maintaining Books of Accounts

The Income Tax Department has issued a warning kind of reminder to taxpayer, if they want their income tax refund, they need to validate their bank account.

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88% of the verified ITRs for AY 2023-24 processed as on 05.09.2023

Income Tax Department issues Clarification on Notices Mistakenly Sent Under Section 80P

Minimum three times surge in ITR filing in all Tax Slab: FM Nirmala Sitharaman

Case Studies on Section 269ST of Income Tax

Interplay of Presumptive Taxation Scheme, Tax Audit and Maintaining Books of Accounts

Income Tax Refund: Taxpayers need to Validate Bank Account to get Refund