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TDS and TCS are two of the government's main sources of revenue. Government proposed changes to the TDS/ TCS rates and other changes proposed in Budget 2024.

TDS/TCS Rates and Other Changes w.e.f. 1st October 2024

Hindustan Unilever said it received a demand notice from the Income Tax Department for Rs.962.75 crore and will file an appeal against the order.

Hindustan Unilever receives Rs.963 Crore Income Tax Demand Notice over TDS Dispute

In the significant changes, the IT department started sending out the intimation notices during the processing of ITR under “Risk Management System”.

Tax Alert: Tax Department sending out Intimation Notices during ITR Processing for large refund/deductions

CBI held the Principal Commissioner of the Income Tax (Patna and Dhanbad) Department and four others for allegedly accepting Rs.10 lakh in bribes.

CBI arrests Income Tax Commissioner in Bribery Case of Rs.10 Lakh

If you've recently submitted income tax return, there is a chance that you could receive a defective ITR notice.

Defective ITR Notice: How to Fix a Defective Income Tax Return; Know Here

The remaining no. adds up to 1,87,47,804 ITRs, which forms 26.29% of the total verified ITRs, that are yet to be processed.

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TDS/TCS Rates and Other Changes w.e.f. 1st October 2024

Hindustan Unilever receives Rs.963 Crore Income Tax Demand Notice over TDS Dispute

Tax Alert: Tax Department sending out Intimation Notices during ITR Processing for large refund/deductions

CBI arrests Income Tax Commissioner in Bribery Case of Rs.10 Lakh

Defective ITR Notice: How to Fix a Defective Income Tax Return; Know Here

Why Income Tax Returns are Still Unprocessed after a month passed since ITR Deadline?