Of the ₹7,124 crore claimed nationwide under section 80GGC, ₹1,641 crore originated from the Telangana-Karnataka zone. In Telangana alone, nearly 15,223 employees are now under scrutiny for ...

In total, across all these zones, 2,38,791 employees claimed deductions amounting to ₹7,124 crore under Section 80GGC. The top five Principal Chief Commissioners of Income Tax (Pr. CCIT) regions ...

I-T Department has sent e-mails to thousands of defaulting people nudging them to file an updated Income Tax Return (ITR) if ...

CBDT emails thousands urging review of crypto-related income in ITRs, flags discrepancies via NUDGE campaign targeting virtual digital asset transactions ...

Earlier, NUDGE campaigns were on the declaration of foreign assets or income by taxpayers and the withdrawal of bogus claims of deduction under Section 80GGC of the Income Tax Act. Get Latest Business ...

HYDERABAD: The income tax department has uncovered a massive pattern of dubious political donation claims allegedly made by salaried professionals and business owners, primarily from the IT sector, ...

The Income Tax Department has sent notices to “thousands” of taxpayers who have not paid tax on the cryptocurrency transactions, according to sources in the Central Board of Direct Taxes (CBDT).

Cryptocurrencies are not regulated in India and the government is working on a discussion paper with options ranging from regulation to a complete ban ...

According to section 115BBH of the Income Tax Act (provided by the Finance Act of 2022), a flat tax rate of 30 per cent (plus applicable surcharge and cess) is levied on income from crypto transfers.

The scrutiny centers around Section 115BBH—introduced in the Finance Act, ... following earlier initiatives targeting undeclared foreign assets and bogus deductions under Section 80GGC.

Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace ...

New ITR-1 and ITR-4 forms now require detailed documentation for deductions and claims, promoting transparency and accuracy.