Income Tax Department

‘AIS for Taxpayer’ Mobile App

The Income Tax Department has launched a mobile app named ‘AIS for Taxpayer’ to help taxpayers get a comprehensive view of their Annual Information Statement (AIS) on their mobile phones. This move is in line with the government’s Digital India ..

Month: 

Category: 

What are Transfer Pricing Rules?

The Income Tax department recently conducted surveys in BBC offices located in Mumbai, Delhi, and in different other cities in the country. According to the IT Department, the BBC has violated “TRANSFER PRICING RULES”. Transfer Pricing is a practice where ..

Month: 

Category: 

PAN to be used as common identifier

PAN is a Permanent Account Number issued by the Income Tax Department of India. It is a ten-digit alphanumeric number. During the Union Budget 2023, Finance Minister Smt Nirmala Sitaraman announced that GoI is to use PAN as a universal ..

Month: 

Category: 

Federal Bank: 1st to list Payment Gateway on New tax platform

Federal Bank, based in Kerala, is the first bank to get listed its Payment Gateway platform on “TIN 2.0 platform” of the Income Tax Department. TIN 2.0 platform was started on July 1, 2022. Highlights of the platform include: On the TIN ..

Month: 

Category: 

NSE Co-Location Case- Explained

The NSE co-location scam involves market manipulation at India’s largest stock exchange, the National Stock Exchange of India. Certain people got market information ahead of the rest of the market, allowing them to earn huge profits, thus violating the NSE’s ..

Month: 

Category: 

Income Tax Department to launch its new e-filing portal

Income Tax Department is set to launch its new ITR e-filing portal, which can be accessed through website called “www.incometax.gov.in’’. ITR e-filing portal ITR e-filing portal will be launched with aim of providing a modern, seamless and more convenient experience ..

Month: