I-T dept to limit access to digital, social media accounts only for specific search, survey; common taxpayers unaffected: Report

I-T dept to limit access to digital, social media accounts only for specific search, survey; common taxpayers unaffected: Report

The Income Tax Department has reaffirmed that its access to digital and social media accounts is restricted to specific search and survey operations, safeguarding the online privacy of common taxpayers. This enforcement measure, affecting only a small portion of the approximately 8.79 crore income-tax returns filed annually, is targeted solely at cases with significant suspicions … Read more

Income Tax: What is Section 148A notice and what are the new changes brought under Budget 2024?

Income Tax: What is Section 148A notice and what are the new changes brought under Budget 2024?

Union Budget: The Finance Bill 2024 introduces amendments to Section 148A of the Income-Tax (I-T) Act, which pertain to the time limits for issuing notices regarding the reopening of assessments. Presently, the Income-Tax Department is empowered to reopen assessments under Section 148A for a period of up to 10 years (equivalent to 11 financial years) … Read more