News

The misconception that cashless transactions are less traceable by the Income Tax Department has evolved as the number of such transactions has increased.

Be ready for Income Tax Notice if you made these High Value Transactions in Year 2023-24

IT Department discovered several discrepancies between the information obtained from third parties regarding interest and dividend income and the ITR filed by taxpayers.

Received ITR Mismatch notice? Using CBDTs 'On-screen functionality' to reconcile and reply

Notifications

The Central Board of Direct Taxes (CBDT) has notified the Panjab University, Chandigarh for Income Tax Deduction under section 35 of the Income Tax Act 1961 via issuing a Notification.

Panjab University notified for Income Tax Deduction u/s 35 [Read Notification]

As per e-Verification Scheme-2021 Income Tax Department has identified certain mismatches between third party information on interest and dividend income, and the Income Tax Return (ITR) filed by taxpayers and communicate them through SMS and emails.

IT-Department clarification on bulk ITR and 3rd-party information mismatch intimation received by Taxpayers

Articles

IT Department has issued mass notices to many assessee on 24/02/2024 on Information mismatch campaign for FY 2022-23 and FY 2021-22.

Income Tax Department issues Mass notices for ITR mismatch for FY 2022-23 and FY 2021-22

In 2023, the government introduced Section 43B(h), which focuses on the protection of Micro, Small, and Medium Enterprises (MSMEs).

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Be ready for Income Tax Notice if you made these High Value Transactions in Year 2023-24

Received ITR Mismatch notice? Using CBDTs 'On-screen functionality' to reconcile and reply

Panjab University notified for Income Tax Deduction u/s 35 [Read Notification]

IT-Department clarification on bulk ITR and 3rd-party information mismatch intimation received by Taxpayers

Income Tax Department issues Mass notices for ITR mismatch for FY 2022-23 and FY 2021-22

Industry seeks for Extension of the implementation of Section 43B(h)