Tag Archives: Income Tax Department

The Income Tax Department on Sunday cautioned taxpayers that non-disclosure of assets located abroad or income earned abroad in ITR could attract a penalty of Rs 10 lakh under the anti-black money law. The department on Saturday issued a public consultation as part of its recently launched compliance-cum-awareness drive to …

Good news came for the central government today. In the current financial year 2024-25, till October 10, there has been a strong increase of 18.3 percent in net direct tax collection, after which it has reached Rs 11.25 lakh crore. According to the government data released on Friday, from April …

Tax evasion not only has a bad effect on governments but also the common people. India is also not untouched in this matter. Tax evasion in the country remains a big headache for the government here. Revenue Secretary Sanjay Malhotra on Tuesday emphasized the need to maintain a better balance …

ITR Filing Deadline Extended: Income Tax Department’s Big Announcement The Income Tax Department has recently made a significant announcement regarding the extension of the Income Tax Return (ITR) filing deadline. This update is especially important for taxpayers, charitable trusts, religious institutions, and professional bodies. In this article, we will delve …

ITR Filing Errors: The season to file Income Tax Return has arrived! For the assessment year 2023-24 i.e. for the financial year 2022-23, it is mandatory for every salaried person coming in the income tax slab to file an income tax return! You should complete this work before 31 July …