Income Tax Department – The News Hashtag

Income Tax Department Alerts Taxpayers on Mismatch in Specified Financial Transactions

Bureau The News Hashtag1 year ago02 mins

New Delhi: In a bid to enhance transparency and encourage voluntary tax compliance, the Income Tax Department is notifying taxpayers about identified mismatches between information filed in the Income Tax Returns (ITRs) for Assessment Year (A.Y.) 2021-22 (Financial Year 2020-21) and the information on specified financial transactions available with the Department. The Department receives information…

Income Tax Department Unearths Massive Tax Evasion and Dubious Practices in Raids on Politically Exposed Person and Associates

Bureau The News Hashtag1 year ago04 mins

New Delhi: In a significant move, the Income Tax Department has initiated search and seizure operations in the case of a Politically Exposed Person (PEP), along with his close associates and certain Government officials, on January 31, 2024.