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: Current Affairs - March, 2023
Category: India Nation & States Current Affairs
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: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2024
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: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2024
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: Current Affairs - August, 2022
Category: Economy & Banking Current Affairs - 2024
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: Current Affairs - February, 2022
Category: Economy & Banking Current Affairs - 2024 • India Nation & States Current Affairs
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: Current Affairs - June, 2021