Tag: income tax act
Industry bodies ask finance ministry to ease TDS rates for Union Budget 2025: Report
Industry bodies have asked the finance ministry to simplify the rates of tax deducted at source (TDS) for the Union Budget, which will be presented…
CBDT sets monetary limit to waive interest
The central board of direct taxes (CBDT) has set monetary limitations for waiver or Reduction of Interest on Tax Payments with riders. According to the…
CBDT notifies tolerance range for transfer pricing for AY 2024-25
The Central Board of Direct Taxes (CBDT) notified the tolerance range for assessment year (AY) 2024-25, which will provide certainty to taxpayers and reduce the…
Govt should prioritise review of Income Tax Act, get it passed as money bill: SBI Research
New Delhi: SBI Research in a report has advocated for quicker review of the Income Tax Act as announced in Budget 2024-25. The report recommended…
Relief against income tax offences as charges for TDS default reduced: Details
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…
CBDT forms internal committee to comprehensively review Income-tax Act, invites suggestions on the tax e-filing portal
The Central Board of Direct Taxes (CBDT) has established an internal committee to supervise an extensive review of the Income-tax Act, 1961 (Act), following the…
Income Tax Act: Tax dept invites public suggestions for I-T Act review
The Income Tax department on Monday invited public inputs for review of the six-decade old I-T Act with regard to simplification of language, litigation reduction,…
Review of Income Tax Act to be completed in given timeframe: CBDT Chairman
New Delhi: The task of reviewing the Income Tax Act of 1961 will be completed in the given timeframe of six months, CBDT Chairman Ravi…
ITR filing 2024: How can you check income tax refund status online using PAN card?
Jul 30, 2024 01:56 PM IST ITR filing 2024: In order to check the status of your income tax refund online, you can use your…
ITR filing last date is July 31. Will income tax return deadline be extended?
Jul 30, 2024 09:34 AM IST ITR filing deadline: The Income Tax Department issued an alert to the public following reports regarding the extension of…