income tax department

From 1st January, 2022, both Zomato and Swiggy will be treated as restaurants. From January onwards, food delivery apps Zomato and Swiggy will face scrutiny from the Income Tax department on the discounts it offers. Motives Of…

The Income tax department has announced that is ready to refund the taxpayers for excess interest and late fees paid due to technical glich in filing ITRs for 2020-21. Several taxpayers who filed their income tax return (ITR) for…

Banks Will Deduct Tax From Your Cash Withdrawal By Checking Income Tax Returns Sounds Scary! Isn't it? Now there is no running away for tax collectors anymore as they have imposed these rules. How Does It Work? So, consider the…

Income Tax Will Be Calculated On Cash Withdrawal! New Tool Launched For TDS The Income Tax department has rolled out a new tool to calculate Tax Deducted at Source (TDS) rate under Section 194N on its e-filing portal. This…

40% Income Tax For Indians To Deal With Coronavirus? 40 WFM Income Tax Officers Recommends As per the reports, Increasing the tax rates on the rich, levying a COVID-19 cess, increasing the surcharge on MNCs are among the measures…

Income Tax Officers Ordered To Work From Home & Catch Tax Evaders; But Is This Ethically Correct? The Income-Tax Department has asked field formations to contact large taxpayers over phone or email to follow up on pending…

Income Tax Dept Launches e-Calculator For Finding Out Tax You Need To Pay: Compare Old & New Tax Rates As per the reports, the Income-Tax Department has launched an e-calculator for individuals to estimate their tax liability if…

Income Tax Dept Releases List Of Official Email IDs, SMS IDs To Stop Frauds, Scams (Complete List Here) As per the reports, the income tax department has released a list of all email ids, SMS sender ids and even websites used by the…

Income Tax Dept New 2020 Calendar For Taxpayers - Deadlines You Shouldn’t Miss As the New Year starts, Income Tax Department has released their 2020 calendar for all taxpayers. This calendar details all the crucial dates, which every…

97,000 Indians Earn More Than Rs 1 Crore Did you know that more than 97000 people in our country have a taxable income of more than Rs. 1 crore in 2017-18? And that this number was very less 81,344 in the AY 2017-18? Yes, this is…