Key Points
In Madhya Pradesh, a government-school teacher has received a tax notice of a staggering Rs 7 crore..
But, what has stunned her family even more than the whopping amount, is that the teacher had died in 2013 and the notice pertains to the assessment year 2017-18...
Officials in the income tax department said as many as 44 people in the tribal-dominated Betul district have received tax demand notices of amounts ranging from Rs 1 crore to Rs 10 crore...
On July 26, her family received a notice from the Income Tax department, ordering the payment of Rs 7.55 crore in tax dues...
Two people have complained that they did not own the business or account mentioned in the income tax notice and that their PAN cards have been misused..
You might be interested in
LIC gets income tax penalty notice of Rs 84 crore; to appeal against order
04, Oct, 23LIC said that they will file an appeal before the appropriate appellate authority against the order within the prescribed timelines.
Infosys set to get Rs 6,300 crore tax refund gain
31, Mar, 24Infosys received Rs 6,329 crore in tax refunds for 11 years but faces a Rs 2,763 crore tax demand for 2022-23. Various subsidiaries also dealt with tax liabilities and refund orders, impacting the company's overall financial position.
File ITR by July 31, no extension under consideration, says govt
16, Jul, 23"So, I would advise them to file their tax return at the earliest because the deadline of July 31 is approaching fast," he said.
Over 2.16 lakh people earn above Rs 1 crore in Assessment Year 2023-24: Pankaj Chaudhary
06, Feb, 24India witnesses a remarkable rise in individuals earning over Rs 1 crore annually, reaching 2.16 lakh for the 2023-24 Assessment Year. Minister Pankaj Chaudhary unveils a positive trend in high-income earners, with significant growth since 2019. Additionally, there's an uptick in 'Profession' income reporting. Finance Minister Sitharaman notes a 27.6% year-on-year increase in personal income tax collections, attributing it to tax reforms and enhanced compliance measures, painting a promising picture for India's economic trajectory.
File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary
16, Jul, 23We would like to thank income tax return filers as ITR filing has been at a much faster pace than last year and we would advise them not to wait to the last moment and also not to hope for any extensions. So, I would advise them to file their tax return at the earliest because the deadline of July 31 is approaching fast, he said.
LIC gets Rs 806 crore GST demand notice; to appeal against order
02, Jan, 24LIC said that it will file an appeal against the GST demand for Rs 806 crore in the FY2017-18 period.