WebJan 22, 2024 · Income tax appellate tribunal is a quasi-judicial body. It specializes in dealing with direct tax matters and the order passed by the Income-tax appellate tribunal is final. However, an assessee can file an appeal in jurisdictional High Court only if a substantial question of law arises. WebMar 6, 2024 · The Income Tax Act, a federal law, was enacted in the year 1922 and was then replaced by a new statute in the year 1961. ... of tax is refunded to the taxpayer with an interest of 6 per cent per annum from the date of filing of the return of income. In cases where there is an outstanding tax liability from any prior years, the tax department ...
Income tax searches at cooperative banks in Karnataka over tax …
Web2 days ago · The case comes months after the Income Tax department’s ‘survey’ for three days at BBC India offices in New Delhi and Mumbai in February. Written by India News … WebSelect Case Studies Government and Public Sector Consulting India 2014. 2 Select Case Studies ... in India, which involved a massive re-engineering exercise across all aspects of People, Process, and Technology. ... PwC supported the Income Tax Department in re-engineering its income tax filing system, by introducing a relevant mix of ... population western europe
income tax: Tax department reopening old tax assessments …
WebReduction in MAT rate: In order to provide relief to the companies which continue to avail exemption/deduction and pay tax under MAT, the rate of MAT has also been reduced … Web2 days ago · The Enforcement Directorate on Wednesday, April 12, filed a case against BBC India under the Foreign Exchange Management Act (FEMA) over allegations of violating foreign exchange laws. This move comes after February 2024 Income Tax Department survey in BBC offices in India. The IT Dept had non compliance with transfer pricing rules … WebFeb 1, 2024 · Income tax for FY 2024-24 applies to all residents whose annual income exceeds Rs.3 lakh p.a. The highest amount of tax an individual could pay is 30% of their … population west africa