Tag: Income Tax Department

Govt says pulses, oilseeds production rising as MPs express concern over imports

Economy
The government has told a parliamentary committee that domestic production of pulses and edible oils has risen at a greater pace in the last 10 years than the decade before, amid concerns raised by MPs...

S&P 500, Nasdaq finish lower; investors uneasy about Middle East conflict

Stocks
The S&P 500 and Nasdaq ended lower on Friday, with investors on edge over the Iran-Israel conflict heading into the weekend, as the U.S. considers whether to get involved. Trading was choppy for much of...

Claimed HRA but skipped TDS? Income Tax department comes knocking with notices

Economy
Individuals who have claimed House Rent Allowance (HRA) exemptions in their tax returns over the past few years but failed to deposit the...

I-T dept slaps Rs 944 crore penalty on IndiGo parent

Business
IndiGo's parent company, InterGlobe Aviation, faces a Rs 944.2 crore penalty imposed by the Income Tax department for the Assessment Year 2021-22....

Data helps Taxman unearth foreign assets worth Rs 22,000 cr

Economy
New Delhi: The Income Tax Department has detected ₹22,000 crore during a drive against undisclosed foreign assets and investments, a senior official told...

Taxpayers take note! Income Tax department recovers Rs 37,000 crore from individuals not filing returns despite taxable income

Business
An expanded and stricter tax collection and TDS system has helped identify significant transaction. (Image source: Freepik) Income Tax Department’s extensive crackdown!...

Tough to mop up taxman’s outstanding demand

Economy
The outstanding tax demand of the income-tax department has grown more than fourfold to ₹42 lakh crore as on October 1 this year,...

CBDT launches compliance-cum-awareness campaign for AY 2024-25 to assist taxpayers in reporting foreign assets and income

Economy
New Delhi: The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in...

Over 34.84 lakh IT audit reports filed on e-filing portal up to Oct 7: Finmin

Economy
The finance ministry on Wednesday said more than 34.84 lakh audit reports, including about 34.09 lakh Tax Audit Reports (TARs), have been filed...

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