TAX

Income Tax: About 6.98 crore ITRs have been filed for AY 2023-24, out of which 6.84 crore ITRs have been verified

Input tax credit can be availed on taxes paid for procurement of white goods or gold coins for the purpose of incentive to dealer as it is a supply, according to the Karnataka-bench of the AAR

The last date to file ITR for the financial year 2022-23 (assessment year 2023-24) is July 31, 2023. There will be no further extension of the deadline.

ITR Filing 2023: It's essential to keep your details up-to-date to ensure smooth communication with the tax authorities and avoid any potential issues.

Cash withdrawal from bank account may attract TDS of 2 per cent under Section 194N of Income Tax Act, 1961; check how it is deducted by banks and post offices

ITR Filing: The IT department said that an inoperative PAN is not an inactive PAN.

Income Tax Return AY 2023-24: Those filing ITR themselves this year need to keep in mind a few key things

The Income Tax department has notified the eappeals scheme, which will ensure electronic filing and processing of appeals.

Donations made to a political party are also eligible for deduction under Section 80GGC of the Income Tax Act

ITR 1 and 4 for A.Y. 2023-24 are enabled for filing in online mode at e-filing portal

CBDT outlines the proposed changes in Rule 11UA or valuation rules, also lists out entities proposed to be exempted from the angel tax ambit

Income Tax Refund: There are various provisions relating to the claim of refund of excess tax paid by the taxpayer.

The income tax calculator is available on the tax department's official website.

ITR-1 Sahaj form can be filed by a resident individual

A tax slab determines how much tax an individual or business needs to pay based on their income

GST taxpayers with turnover for FY22 is over Rs 2 crore can file their annual return in Form GSTR-9 today; those individuals who have filed belated ITR for AY23 are allowed to file a revised return