Search For "direct tax"
Ministry of Finance: Direct tax collections for FY 2024-25 surge by over 2
Updated : 1 year, 9 months ago IST
According to a press release by the Ministry of Finance, these figures underscore the country's strong economic performance and a healthy tax compliance environment.
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CBDT extends due date for filing Form 10A/10AB
Updated : 1 year, 11 months ago IST
The Central Board of Direct Taxes (CBDT) further extended the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 up to June 30, 2024.
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FY24 net direct tax collections exceed budget estimation by 7.4%
Updated : 1 year, 11 months ago IST
The gross direct tax collections for the Financial Year (FY) 2023-24 in India reached Rs. 19.58 lakh crore, compared to Rs. 16.64 lakh crore in FY 2022-23, reflecting an increase of 17.70 per cent.
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Election Commission directs CBDT to verify any 'mismatch' in affidavit det
Updated : 1 year, 11 months ago IST
The Election Commission of India (ECI) directed the Central Board of Direct Taxes (CBDT) to verify any mismatch in affidavit details submitted by Union Minister Rajeev Chandrashekhar, the BJP contesting candidate from Thiruvananthapuram Lok Sabha seat, sources said.
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No special drive to reopen cases on HRA claims, clarifies CBDT
Updated : 1 year, 11 months ago IST
According to a press release, the CBDT has emphasized that there is no concerted effort to reopen cases en masse, particularly concerning HRA claims.
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Functionalities to file commonly used Income Tax Returns enabled by CBDT o
Updated : 1 year, 11 months ago IST
The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from April 1, 2024 onwards.
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Gross Direct Tax collections for financial year 2023-24 register growth of
Updated : 2 years ago IST
The provisional figures of Direct Tax collections for the financial year 2023-24 (as on March 17, 2024) show that net collections are at Rs. 18,90,259 crore, compared to Rs. 15,76,776 crore in the corresponding period of the preceding financial year 2022-23, representing an increase of 19.88
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Delhi HC sets aside CIC's order asking CBDT to give information on exempti
Updated : 2 years ago IST
The Delhi High Court recently set aside the order of the Chief Information Commissioner (CIC) directing the Central Board of Direct Taxes (CBDT) to provide information related to Shri Ram Janmbhoomi Teerth Kshetra Trust. The order was challenged by the CBDT.
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CBDT identifies mismatches in ITR, third party information; function made
Updated : 2 years ago IST
The Income Tax Department on Monday said it has identified certain mismatches between the information received from third parties on interest and dividend income, and the Income Tax Return (ITR) filed by taxpayers, the Central Board of Direct Taxes said. In many cases, it said taxpayers h
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Major personal income tax relief: Finance act 2023 amends section 87a, no
Updated : 2 years, 2 months ago IST
Ministry of Finance posted on X, "Benefits in Personal Income Tax! Vide Finance Act, 2023, Section 87A of the Income-tax Act, 1961 has been amended to allow rebate to tax resulting in no tax liability to persons having income up to Rs. 7 lakh. (1/5) #PromisesDelivered"
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Gross direct tax collections up 16.8 pc so far in 2023-24
Updated : 2 years, 2 months ago IST
Direct tax collections so far in the financial year 2023-24 have risen 16.77 per cent to Rs 17.18 lakh crore (in gross terms), data put out by the Ministry of Finance said on Thursday.
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Income Tax dept searches premises of electrical items manufacturer in Mumb
Updated : 2 years, 2 months ago IST
The Income Tax department initiated search and seizure operations in the case of a group engaged in the manufacturing of wires, cables and other electrical items on December 22, 2023, the agency said in a statement on Wednesday.
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