Income Tax : Learn how to file ITR-4 for FY 2023-24 (AY 2024-25) under the presumptive taxation scheme. Detailed analysis, eligibility, procedu...
Income Tax : Delve into AIS, TIS, and Form 26AS to discern if they aid or perplex the taxpayer. Learn about their contents, differences, and th...
Income Tax : Learn why linking PAN with Aadhaar is essential. Discover the benefits and consequences of non-compliance with the Income Tax Depa...
Income Tax : Understand Income Tax notices on AIS/TIS mismatch for FY 2022-23. Learn what actions to take, how to trace transactions, and submi...
Income Tax : Understand Notice u/s 143(1)(a): Learn about its purpose, common situations, response deadlines, and how to address discrepancies ...
Income Tax : In-depth analysis of the Income Tax Department crackdown in Chhattisgarh, uncovering a Rs. 13 crore scam involving a PEP, associat...
Income Tax : In a recent search operation in Odisha, Jharkhand, and West Bengal, Income Tax Department reveals staggering tax evasion of a grou...
Income Tax : Income Tax Department conducts search & seizure operation in Tamil Nadu and Puducherry, revealing tax evasion, unaccounted funds, ...
Income Tax : Income Tax Department conducted search and seizure operations on a business group operating largely in North Bengal region of the ...
Income Tax : Income Tax Department is pacing with technology and now it has launched mobile application for AIS view. Now the taxpayer can view...
Income Tax : Delhi HC explains why NFAC cannot invoke Section 144B of the Income Tax Act if a claim is not lodged within the Corporate Insolven...
Income Tax : Supreme Court halts coercive action against Indian National Congress in Rs 3500 crore income tax dispute until pending civil appea...
Income Tax : Calcutta High Court ruling states payments by supervisors to individual labourers, each not exceeding Rs. 20,000, cannot be disall...
Income Tax : Read the detailed analysis of Kerala High Court's dismissal of Writ Appeal by Manaf Alihassan against orders of Tamil Nadu Assessi...
Income Tax : Kerala High Court's stay order halts income tax recovery until final decision. Read the full text of the judgment/order here....
Income Tax : Nirmala Sitharaman Minister of Finance and Corporate Affairs Government of India Dy. No. 1759745 FM/FMP/2021 22/07/21 Message My h...
DGFT : Following DGFT services will not be available from 1 st June 2021 to 6th June 2021: i. Application for a new IEC ii. Application f...
Income Tax : A note said to be written by Shri. V G Siddhartha (VGS) of CCD is doing the rounds. Among others it was mentioned in the note abou...
Income Tax : The Income Tax Department today said that tax returns filed by senior citizens above 60 years and small taxpayers with gross total...
Income Tax : On or about 12th January 2010, an officer in the Income Tax department, Mumbai, noticed that refunds had been issued from his juri...
Fixed deposit holders will not be allowed to avail any credit against taxes paid on their interest earnings if banks do not quote their PAN numbers. Many fixed deposit holders could be left in lurch as income tax department has tightened rules on TDS or tax deducted at source. Banks are supposed to cut tax at source for interest income above Rs 10,000. But in 2005-06 less than half of non-salaried income had PAN numbers and in future these will not be eligible for refunds.
Minister of State for Finance Shri S.S. Palanimanicham affirmed in the Lok Sabha that the income tax department has issued revised guidelines for allotment of Permanent Account Number (PAN) to Indians living abroad, foreign citizen or a company, trust or firm not having an office in India. The requirement of having a representative assessee in India by a non-resident for allotment of PAN has been dispensed with.
