TCS employees receive tax demand notices! The Income Tax Department has issued demand notices to a significant number of TCS employees, ranging from 30,000 to 40,000 individuals, due to discrepancies in their tax deducted at source (TDS) claims. The tax demand varies from Rs 50,000 to over Rs 1 lakh, depending on the employee’s seniority…
Income Tax Notice on the way? The Income Tax Department is gearing up to send out a large number of notices in the coming month, as there are concerns that many taxpayers might escape the tax net due to the impending implementation of the new reassessment law on September 1, 2024.According to the amended regulation…
NEW DELHI: Karnataka deputy chief minister and state Congress president DK Shivakumar has alleged that he received an Income Tax notice on Friday night.Shivakumar added that the notice pertained to an issue which had already been settled.He disclosed this while talking to media persons on the IT notices to Congress.“There is democracy in this country.There…
NEW DELHI: BJP on Friday dismissed Congress’ angry protests over I-T action against it saying that the opposition party is trying to distract attention from its failure to obey the laws which apply to political parties as well as all tax payers and is trying to obfuscate the fact that the latest notice of income…
Income Tax notice coming your way? The income tax department is set to send notices to individuals who have not filed tax returns, despite having tax deducted at source on their incomes, according to Central Board of Direct Taxes (CBDT) chairman Nitin Gupta. In an interview with ET, Gupta stated that there are approximately 15…
