NEW DELHI: The government on Saturday extended the term of the chairman of the Central Board of Direct Taxes (CBDT) Ravi Agrawal by one year, an official notification said.The Appointments Committee of the Cabinet approved the re-appointment of Agrawal, an IRS officer of the 1988 batch, as CBDT chairman for one year from July 1…
The Central Board of Direct Taxes (CBDT) has launched a probe into possible tax evasion and laundering of unaccounted income through investments in virtual digital assets (VDAs), including high-risk VDA transactions and cryptocurrencies, sources in the government said on Thursday.The tax authority is currently verifying individuals and entities engaged in high-risk VDA transactions who appear…
NEW DELHI: The income tax department has extended the deadline for filing of tax returns by individuals from July 31 to Sept 15 in the wake of several amendments to the law, which have necessitated revisions in the notified ITRs for this assessment year, requiring the authorities to rework the technology platform, among other things.“The…
The Central Board of Direct Taxes (CBDT) has officially notified the income tax return (ITR) forms 1 and 4 for the financial year 2024–25. These forms shall be used for reporting incomes earned between 1 April 2024 and 31 March 2025, that is for the assessment year 2025–26.The government is expected to release the other…
‘क्या पीएम 1 घंटा नहीं दे सकते’, सर्वदलीय बैठक में नहीं बुलाए जाने पर ओवैसी नाराज, रिजिजू बोले- ‘आपकी आवाज तेज’ Source link
New Income Tax Rules: देश में नए इनकम टैक्स कानून बनाने की शुरुआत हो चुकी है. सद में इनकम टैक्स विधेयक 2025 को पेश किया जा चुका है जिसपर संसद की सेलेक्ट कमिटी विचार कर रही है. और टैक्सपेयर्स होने के नाते आप भी नए इनकम टैक्स कानून बनाने में योगदान दे सकते हैं. सेंट्रल…
NEW DELHI: Over 30,000 taxpayers have declared foreign assets of more than Rs 29,000 crore after Central Board of Direct Tax (CBDT) launched a campaign nudging taxpayers to come clean. Besides, 6,734 taxpayers have revised their status from residents to non-residents.While the additional foreign income disclosed was Rs 1,090 crore, each taxpayer declared an average…
NEW DELHI: The income tax department has come out with a fresh guidance note on applicability of Principal Purpose Test (PPT) for claiming tax treaty benefits, which will apply prospectively.The Central Board of Direct Taxes (CBDT) in its note on principal purpose test also clarified that the grandfathering provisions under the India-Cyprus DTAA, India-Mauritius DTAA…
NEW DELHI: Government will exceed the Rs 22.1 lakh crore direct tax collection target set for the current fiscal, Central Board of Direct Taxes (CBDT) chairman Ravi Agarwal said on Monday.Agarwal also said that taxpayers who have not disclosed their foreign income or assets in their ITRs have time till Dec 31 to file their…