The Income Tax Department has begun a nationwide verification initiative concerning questionable foreign remittances. This move comes after the department identified certain entities that allegedly remitted substantial sums overseas while reporting minimal or no business activity....
The announcement regarding the availability of the Excel utility for ITR-6 indicates that companies can now start preparing their income tax returns for the Assessment Year (AY) 2026-27. The Income Tax Department confirmed this update on...
The Income Tax Department has announced the availability of the ITR-5 filing utility, allowing eligible taxpayers to begin filing their income tax returns for...
Tensions have escalated in West Bengal following a series of Income Tax (IT) raids targeting individuals closely linked to the Trinamool Congress (TMC), including...
The Income Tax Department has launched a newly upgraded version of its TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal, aimed at simplifying...
Income Tax Department Issues Clarification: This week, many taxpayers found themselves perplexed after receiving reminder emails from the Income Tax Department regarding advance tax...
The Income Tax Department has introduced new draft regulations aimed at simplifying the property transaction process, particularly for lower-value properties. The proposed changes involve...