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ITR Filing Update: CBDT notifies ITR Forms ITR-1 And ITR-4 For AY 2024-25; Deadline To File July 31, 2024

The Central Board of Direct Taxes (CBDT) has notified the income tax return forms, ITR-1 (SAHAJ) and ITR-4 (SUGAM), for FY 2023-24 (AY 2024-25). These forms will come into effect from April 1, 2024. The last date to file ITR for ...

Advance Tax Collections For The F.Y. 2021-22 Stand At Rs. 4,59,917.10 Cr: Govt

The Ministry of Finance revealed that net direct tax collections for the Financial Year 2021-22 as of 16.12.2021 were Rs. 9,45,276.6 crore, up from Rs. 5,87,702.9 crore in the preceding financial year, FY 2020-21, marking a 60.8 percent raise. The gross ...

Ministry of Finance: More Than 3.59 Cr ITRs Have Been Filed On The New e-filing Portal

According to the Ministry of Finance, 3.59 crore Income Tax Returns (ITRs) were filed via the new e-filing portal of the Income Tax Department as of December 15, 2021. As the extended due date of December 31, 2021 approaches, the number ...

CBDT Eases Income Tax Rules For Authentication of Submission of Electronic Records

The Central Board of Direct Taxes (CBDT) modified the Income-tax Rules, 1962 on September 6, 2021, to make it easier to authenticate electronic records in faceless assessment processes. "The amended Rules provides that electronic records submitted through registered account of the ...

I-T Dept To Bring 1 Crore New People Under Tax Net This Fiscal

The Income Tax department has launched an ambitious drive to bring under its net one crore new taxpayers after the government recently asked the taxman to achieve the target within the current fiscal. As part of government's initiative to ...

FinMin sets up panel to reduce tax litigations

With Rs 4 lakh crore locked up in litigations, the Finance Ministry today set up a committee consisting of officials from Central Board of Direct Taxes to suggest ways to reduce mounting disputes at various tax appellate forums. The Committee ...

Some social welfare spending can be considered for tax benefit: report

Money spent on all CSR works cannot be counted as business expenditure but certain social welfare spending activities could be considered for tax benefits, according to CBDT Chairman R K Tiwari. Under the new Companies Act, certain ...

70 new spl I-T offices to come up this fiscal

Seventy new special Income Tax department offices called the 'Aaykar Sampark Kendras' will be opened across the country during the current financial year to help tax payers file returns and address their grievances. The Central Board of Direct Taxes (CBDT), ...

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