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.
To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU
As per I-T laws, for 2019-20 fiscal, individuals staying in India for 182 days or more in a fiscal or 60 days or more in a fiscal and at least 365 days in the past 4 fiscals will be considered as resident of India for taxation purpose.
The Finance Ministry on Sunday had slammed the report released under the aegis of the Indian Revenue Service Association (IRSA), terming it ill-conceived and ordered an inquiry.
The return filing utility after incorporating necessary changes shall be made available by 31st May 2020 to avail benefits for FY 2019-20, CBDT said.
In a press release, the CBDT said, as a relief to MSMEs, income tax refunds worth Rs 5,204 crore have been issued by the central board in the last 10 days to nearly 8.2 lakh small businesses.