Year Ender 2023: CBDT takes citizen-centric initiatives
In 2023, gross tax collections of Rs. 12.67 lakh crore mark a 17.7% YoY increase, with net collections reaching Rs. 10.64 lakh crore, reflecting a 23.4% growth.
In 2023, gross tax collections of Rs. 12.67 lakh crore mark a 17.7% YoY increase, with net collections reaching Rs. 10.64 lakh crore, reflecting a 23.4% growth.
Ministry of Finance has brought changes for the purposes of calculation of ‘perquisite’ with regard to the value of rent-free…
As the last date of Income Tax filing has ended in July, the Income Tax Department has released data for…
Net direct tax collections so far this financial year are at Rs 700,669 crore, an increase of 23 per cent as compared to Rs 568,147 crore till the same period
Income Tax department said that CBDT has issued refunds of over Rs 1.14 lakh crore to more than 1.97 crore taxpayers.
The Supreme Court was told on Thursday that the Central Board for Direct Taxes (CBDT) has accused makers of Dolo-650 tablet of distributing freebies around Rs 1,000 crore to doctors as consideration for prescribing the tablet.
The CBDT has decided that relief will only be applicable to taxpayers who were eligible to file application for settlement on January 31, 2021 for the assessment years for which the application is sought to be filed (relevant assessment years)
It has now been decided to extend the aforesaid date to August 15 from the earlier deadline of July 15.
The corrective measures are being taken based on feedback from taxpayers, tax professionals, and representatives of ICAI to provide taxpayers with a smooth e-filing experience.
The Finance Act, 2021 inserted a new Section 194Q in the Income-Tax Act, 1961, which took effect from July 1, 202I.