As per CBDT, a taxpayer is a person who either has filed a return of income for the relevant assessment year (AY)...
The government has budgeted to collect Rs 18.23 lakh crore from direct taxes (personal income tax and corporate tax), 9.75 per cent...
Income Tax Returns (ITR): The Income Tax department gives taxpayers multiple chances to fill their Income Tax Returns. December 31 was the...
The “Discard” option comes as a solution for individuals who may have inadvertently submitted incorrect information while filing their ITRs. New Delhi: In...
With the recent change, excess share application money or premium received from non-resident investors may also be subject to angel tax. On...
New Delhi: In response to a Right to Information (RTI) request, the Central Board of Direct Taxes (CBDT) revealed that approximately 11.5 crore...
The income tax department on Wednesday said a record number of over 7.85 crore ITRs were filed till October 31. The total...
The Income Tax Department appreciated taxpayers and tax professionals for on-time compliance, resulting in a record number of filing of Income Tax...
The proportion of gross total income of the middle 74 per cent group of individual taxpayers increased from 75.8 per cent to...
Form No. 10B/ 10BB is the audit report required to be furnished in case a taxpayer is a fund or trust or...