News

The verification of 'high-risk' refund claims in income-tax returns for AY 2024-25 shall be carried out systematically, in accordance with a SOP.

IT Department Ordered Scrutiny on ‘High-Risk’ Income Tax Refund Claims

The income tax department has issued demand notices to several Gujarat taxpayers regarding their tax liability on short-term capital gains, mainly from stock market transactions.

Taxpayers receive Tax Demand Notices for Short Term Gains

Orders

CBDT has extended the Filing Date of Form No.10B/ 10BB to 10th November 2024 for AY 2023-2024. CBDT notified this via issuing an Order.

Income Tax Audit due date extended for AY 2023-2024 in certain cases

Articles

The Due Date for Depositing TDS/TCS for the month is 7th of next month. If you don't Deposit the same on the due date, Interest is Applicable.

Interest on failure to Deduct/Pay TDS/TCS

The deadline for specified TDS payments was October 7, 2024, and the Income Tax e-filing portal had been experiencing glitches since 11 AM in the morning.

TDS Payment Delayed Due to Income Tax Portal Glitches leaves Taxpayers Frustrated

The Union Government formally commenced the process of revamping the existing income-tax framework with four primary objectives in mind.

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IT Department Ordered Scrutiny on ‘High-Risk’ Income Tax Refund Claims

Taxpayers receive Tax Demand Notices for Short Term Gains

Income Tax Audit due date extended for AY 2023-2024 in certain cases

Interest on failure to Deduct/Pay TDS/TCS

TDS Payment Delayed Due to Income Tax Portal Glitches leaves Taxpayers Frustrated

Govt Launches Process to Revamp Income Tax Regime; Sought Public Comments