Tag: IT department

Making Exaggerated Claims To Get Refunds Punishable Offence: Income Tax Department

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Making Exaggerated Claims To Get Refunds Punishable Offence: Income Tax Department

New Delhi: The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds. The ITR filing season for assessment year 2024-25 will end on July 31 for all categories of…

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Received 11 Income Department Notices In 72 Hours: Trinamool MP

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Received 11 Income Department Notices In 72 Hours: Trinamool MP

Saket Gokhale said some of the notices go back almost seven years. (File) New Delhi: Trinamool Congress (TMC) MP Saket Gokhale on Friday said he has received 11 notices from the income-tax department in the last 72 hours and alleged that every attempt is being made to put pressure on the opposition ahead of the…

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FM withdraws all outstanding direct tax demands upto Rs 25,000, will benefit 1 cr taxpayers

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FM withdraws all outstanding direct tax demands upto Rs 25,000, will benefit 1 cr taxpayers

Image used for representative purpose. File | Photo Credit: MURALI KUMAR K Resolving long-pending tax dispute, Finance Minister Nirmala Sitharaman on Thursday, proposed withdrawing all outstanding direct tax demands upto ₹25,000 from 1962 to 2009-10. In her interim budget speech, she noted that a large number of petty or disputed direct tax demands were burdening…

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