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Taxpayers have to file the returns for 2022-23 with the assessment year being 2023-24

Deadline to file IT returns won’t be extended; Govt urges taxpayers to file returns...

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ITR: Govt not contemplating extension of July 31 deadline The government has urged taxpayers to file their income tax returns before July 31, 2023, to avoid...
Fleecing taxpayers to fatten fraudsters

Fleecing taxpayers to fatten fraudsters

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Great fortunes will continue to be built—by fleecing the taxpayers Behind every great fortune, wrote the French author Honore de Balzac, lies a great crime—or...
The Income Tax Department receives information on specified financial transactions of taxpayers from various sources

Income Tax Dept detects cases of tax not being fully paid; sets March 15...

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Not paid tax according to specific financial transaction, do so by March 15, says Income Tax Dept The Income Tax Department has identified some persons...
Farmers 'launched ‘Chalo Delhi’ march with truncated strength and demands, starkly different from 2020-21 protests

Is farmers’ demand for MSP guarantee misguided & misplaced?

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Farmers' demands over Minimum Support Price (MSP) Almost two years after laying siege to the national capital, by farmers from Punjab, Haryana, and Western Uttar...
Audit reports and other forms filed during the period is 1.60 cr as against 1.43 cr YoY

Record number of I-T returns filed for 2023-24; marks a rise of 9%

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More than 8 cr ITRs filed for the first time ever: I-T Dept On Monday, the Income Tax Department said that a record number of...
iPhone-maker Apple Inc reacted to the claims, saying it is possible that some threat notifications may be false alarms and some attacks may not be detected

Oppn leaders claim ‘state-sponsored attack’ notification from Apple. Govt says will probe

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'May be false alarm': Apple says on Opposition leaders getting ‘state-sponsored attack' Several opposition leaders on Tuesday claimed they received an alert from Apple warning...
Number of returns filed have shot up across various tax slabs reflecting more robust revenue base

Income Tax compliance in India is on the upswing across slabs, says data

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ITR filings by taxpayers rise 90% in the last nine years Data released by the Income Tax Department shows that a healthy trend of increased...
The revised regulations also maintain the inclusion of five valuation methods initially proposed in the draft rules for assessing funds received from non-resident sources

Income Tax Department issues new regulations for startup equity valuation

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What are the new income tax rules for startup investments? The Income Tax Department has issued new regulations concerning the valuation of equity and compulsorily...
Filing of ITRs peaked on July 31, which was the last date for filing returns for salaried taxpayers

More than 6 crore ITRs, 16% more than last year filed till July 31:...

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Income tax returns filings touch an all-time high of 67.7 mn, up 16% from last year A total of 6.77 crore income tax returns (ITRs)...
In 2020-21, as many as 12,596 cases of GST evasion were detected, while in 2022-23, the cases rose by 23.5 percent to 15,562

GST evasion cases surge 23.5% in 2 years; 166% rise in detection in value...

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In 2022-23, Rs.33,226 cr were recovered in terms of GST evaded from 15,562 cases detected As per Finance Ministry data, there has been a rise...

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