ITR filing for FY2024: The Income Tax Return filing time has kickstarted for AY 2024-25 and FY2024 and will end on July 31, 2024. The deadline is for taxpayers, including individuals, bodies of individuals, or associations of persons. There are different ITR forms meant for different sections of taxpayers. This is largely based on the … Read more
In one of the first high-profile cases under the new Black Money law, Yashovardhan Birla has won the first round in his tussle with the Income tax (I-T) department. The money at stake was ₹8,400 crore — comprising ₹2,400 crore tax demand and ₹6,000 crore penalty — computed from peak balances in multiple offshore accounts … Read more
Search and seizure operations by the income tax department in Jammu & Kashmir in two separate cases unearthed tax evasion and unexplained investments amounting to as much as Rs 50 crore, the Central Board of Direct Taxes said in a statement Thursday. The operation conducted on a prominent hotelier led to seizure of incriminating documents … Read more