Tag: Income Tax Department

Dr Reddy’s, Sun Pharma and other pharma stocks fall up to 3% as Trump threatens 25% tariff on India

Stocks
Shares of major Indian pharmaceutical companies slumped as much as 3% on July 31, after U.S. President Donald Trump declared a 25% tariff and additional penalties on Indian goods, citing India’s ongoing trade with Russia....

RAKBANK becomes first UAE conventional bank to offer crypto trading to retail customers | World News

Business
RAKBANK’s mobile app now lets customers trade major cryptocurrencies using UAE dirhams/Image: Instagram TL;DR:RAKBANK is the first traditional UAE bank to enable retail crypto trading via its mobile app.The service is delivered in collaboration...

Direct tax collections rise 4.9%; advance tax up 3.9% in FY26 so far

Economy
India's direct tax collection for the financial year 2025-26 rose by 4.86% to Rs 5.45 lakh crore as of June 19, according to...

Income tax department notifies ITR-U: Extended window for filing updated return, penalties- all you need to know

Business
NEW DELHI: The Income Tax Department has officially notified the updated return form, called ITR-U, allowing taxpayers with an extended window...

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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