Tag: cbdt

CBDT launches campaign to intimate taxpayers on mismatch in ITR filed and AIS

December 17, 2024 admin

The initiative is part of the implementation of the e-Verification Scheme, 2021. | Photo Credit: Getty Images The income tax department on Tuesday (December 17, 2024) said it is sending SMS and emails to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement (AIS) and income disclosed in ITRs…

Business

Public inputs sought for Income Tax Act review

October 7, 2024 admin

Photo used for representation purpose only. | Photo Credit: Getty Images/iStockphoto As part of the comprehensive review of the Income Tax Act announced by Finance Minister Nirmala Sitharaman in the Budget, the Central Board of Direct Taxes (CBDT) on Monday (October 7,2024) invited inputs and suggestions from taxpayers and the public at large. These ideas…

Business

35 Lakh Income Tax Refund Cases “Held Up” For Various Reasons: Tax Body Chief

October 10, 2023 admin

93.5 per cent of duly verified ITRs have been processed till now (Representational) New Delhi: Around 35 lakh cases for issuance of refunds are currently “held up” with the Income-Tax Department owing to mismatch and validation of the taxpayers’ bank accounts and the taxman is reaching out to such assessees via a special call centre,…

Nation

New tax regime ‘sweetened’ to benefit maximum number of taxpayers: CBDT Chairman

February 2, 2023 admin

File picture of Union Finance Minister Nirmala Sitharaman with Nitin Gupta, Chairman, Central Board of Direct Taxes | Photo Credit: Vedhan M The new income tax regime for filing returns has been “sweetened” in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a “reduced” tax rate,…

Business