Tag: Income tax updates

The stakeholder groups made several suggestions on various issues that included increased R&D spending, infrastructure status for digital services, incentives ...

Out of the 3.59 crore ITRs filed for AY 2021-22, 57.6% are ITR1 (2.07 crore), 8.3% is ITR2 (29.70 lakh), ...

Keeping in view the aforesaid conclusions, Explanations A(a)(ii)/A(b) to the Notifications dated 31st March, 2021 and 27th April, 2021 are ...

Net Direct Tax collections for the F.Y. 2021-22 grown at robust pace at more than 60%

(1) The scope of the Scheme shall be in respect of: (i) calling for information under section 133 of the ...

One of the ARCs was found to be maintaining a parallel set of accounts on Tally accounting software, in a ...

The number of ITRs filed per day is over 4 lakh and increasing everyday as the extended due date of ...

Heads of income are mentioned in Section 14 of the Income Tax Act, 1961: A.—Salaries. B.—Income from house property. C.—Profits ...

Gujarat High Court in case of KARTIK VIJAYSINH SONAVANE V/s DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 8 held by order ...

A preliminary analysis of these evidences indicates unaccounted cash receipt of on- money of more than Rs. 300 crore on sale ...

The Income Tax Department initiated search and seizure operations on a prominent business group, engaged primarily in the manufacturing of ...

Registering Digital signature on e-filing website is important and necessary especially in case of a company or LLP where digital ...

A preliminary analysis of these evidences reveals that many paper/shell companies are run by the group to provide accommodation entries ...

The Income Tax Department initiated search action on 24.11.2021 on a taxpayer in Delhi who has created a beneficiary trust and ...

In the past 1-2 years we have seen a lot of growth in the cryptocurrency market in India and people ...