There has been a surprising surge in income tax payments from senior citizens during the past year, lifting the overall tax collections from the 60+ population by as much as 61.5% from pre-COVID levels to surpass ₹1 lakh crore. While personal income tax flows have grown …
A man from MP’s Bhind, who earns Rs 58,000 per month, has received yet another notice from the income-tax department demanding him to pay Rs.113 crore in taxes for alleged Rs.132 crore transactions in his account in 2011-12. Despite an investigation launched by none other than …
The income Tax Department has provided a partial relaxation provided to Non-residents not having PAN and not required to have it under the provisions of the Income-tax Act, 1961 to file Form 10F manually till 31st March 2023. The same has been further extended till 30th September 2023. …
Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly The Government is using data analytics, big data and Artificial Intelligence/Machine Learning in tax administration …
