Ravi Agarwal. Credit: CBDT Through the use of various artificial intelligence (AI) tools, the Income Tax Department has over the last four years encouraged more than one crore taxpayers to voluntarily update tax returns leading to ₹11,000 crore of additional tax revenue for the government, Central Board of Direct Taxes Chairman Ravi Agarwal said in […]
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Photo used for representational purpose only. File | Photo Credit: Freepik December 31, 2022, will be the last date for filing belated Income Tax returns for the financial year ended 31.3.2022 (assessment year 2022-23). Post December 31, it will not be possible to file the belated returns and it will attract additional liability, according to […]
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The Income Tax Department has extended the due date for filing tax audit report for fiscal 2021-22 by 7 days till October 7. “On consideration of difficulties faced by the taxpayers and other stakeholders in the filing of various reports of audit for the Assessment Year 2022-23, Central Board of Direct Taxes (CBDT) has decided […]
Continue ReadingThe audit observed that there is no clarity on allowing deduction under Section 80G for donations out of CSR funds. The audit observed that there is no clarity on allowing deduction under Section 80G for donations out of CSR funds. The CAG has slammed the income tax department for not formulating a data sharing mechanism […]
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The scam surfaced when one of the assessing officers detected computation of refunds under section 154 of the I-T Act The scam surfaced when one of the assessing officers detected computation of refunds under section 154 of the I-T Act The CBI has started an investigation against three Income Tax department officials for allegedly facilitating […]
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