The Central Board of Direct Taxes (CBDT) has extended the last date for furnishing Belated/ Revised return of income (ITR) for the Assessment Year (AY) 2024-25 for Resident Individuals, the CBDT stated in a notification.
The gross direct tax collections by the government so far in 2024-15 were 20.32 per cent higher on a yearly basis at Rs 19.21 lakh crore, data released by the Central Board of Direct Taxes (CBDT) showed on Wednesday.
The Central Board of Direct Taxes (CBDT) on Saturday extended the due date for filing the return of income tax for tax payers with international transactions who are required to submit informations under section 92E.
The Central Board of Direct Taxes (CBDT) has announced the extension of the due date for filing Income Tax Returns (ITR) for corporates in the assessment year 2024-25, The Ministry of Finance said in an official release on Saturday.
The match, held at New Delhi's Major Dhyanchand National Hockey Stadium, featured some of India's top hockey stars and provided an electrifying conclusion to the tournament.
The new guidelines by Central Board of Direct Taxes (CBDT) for the compounding of offences under the Income-tax Act, 1961, aim to make the process easier and more accessible for taxpayers, according to a statement by Ministry of Finance.
In conformity with the Finance Minister's budget announcement on simplification and rationalization of compounding procedure, The Central Board of Direct Taxes (CBTD) issued Revised Guidelines for Compounding of offences under the Income-tax Act, 1961 on Thursday.
India's net direct tax collection for the financial year 2024-25 has seen a significant surge, with an increase of 18.35 per cent to almost Rs 11.26 lakh crore year on year, as of 10 October, the data from the Central Board of Direct Taxes (CBDT) shows.
The Central Board of Direct Taxes (CBDT) has formed an internal committee to oversee a comprehensive review of the Income-tax Act, 1961 (Act), as was announced in the Union Budget 2024-25 by Finance Minister Nirmala Sitharaman.
This scheme, aimed at resolving pending income tax disputes, will come into effect from October 1. It seeks to provide an efficient framework for taxpayers to settle their outstanding appeals, streamlining the resolution process for various tax-related disputes.