Income Tax news

Income Tax Insights 2022-23: Returns, Collections and Expenditure

Introduction: Lok Sabha Unstarred Question No. 87, presented by Shrimati Mala Roy, probes into crucial aspects of India’s Income Tax scenario for the Financial Year 2022-23. The question seeks information on the percentage of people filing returns, the total income tax collected, and the annual plan and non-plan expenditure of the I...

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Gross Direct Tax Collections FY 2023-24 Surge by 17.59% YoY

Explore the latest data on Gross Direct Tax collections for FY 2023-24, witnessing a remarkable 17.59% YoY growth, netting Rs. 12.37 lakh crore. Detailed analysis of Corporate and Personal Income Tax included...

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Income Tax Department Records 7.85 Crore ITRs Filed by 31st Oct 2023

Ministry of Finance reports a record 7.85 crore ITRs filed for all assessment years by 31st October 2023. Detailed analysis of filing trends and procedures....

Posted Under: Income Tax |

Request for Form 10B and Form 10BB Relaxation & due date Extension

Chamber of Tax Consultants seeks an extension for filing Form 10B and Form 10BB while requesting relaxation of requirements. Details and updates here....

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Surge in Taxpayer Compliance: India’s Direct Taxes Data Revealed

Explore the remarkable increase in taxpayer compliance as India's Time Series Data of Direct Taxes showcases rising ITR filings, income growth, and tax collection success....

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CBDT condones delay in filing Form 10-IC for A.Y. 2021-22

CBDT's Circular 19/2023 provides relief for domestic companies opting for taxation under Section 115BAA. Learn the conditions for condonation of Form 10-IC delays for A.Y. 2021-22....

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Income Tax Raids on Educational Groups in Tamil Nadu

Income Tax Department conducts search & seizure operation in Tamil Nadu and Puducherry, revealing tax evasion, unaccounted funds, and diversification in education and other businesses....

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Income Tax Raids in Karnataka, Andhra Pradesh and Telangana

Income Tax Department's recent searches reveal tax evasion schemes by contractors, leading to unaccounted cash and asset creation. Details of operation....

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Kashmir Valley Income Tax Search Operation Reveals Major Tax Evasion

Recent Income Tax search operation in Kashmir Valley exposes a prominent business group's substantial tax evasion in sectors including Cement, Steel, and Real Estate...

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Direct Tax Collections for F.Y. 2023-24 Show Significant Growth

Direct Tax Collections for F.Y. 2023-24 have surged, with gross collections up by 17.95%. Analysis of Ministry of Finance's latest data....

Posted Under: Income Tax |

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