tax liability

Income Tax department scans financial dealings, tells assessees to pay advance tax

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Income Tax department scans financial dealings, tells assessees to pay advance tax

NEW DELHI: A nudge to taxpayers to declare their “real” income will no longer be an annual affair. The income tax department is starting an e-campaign that aims to inform those with significant financial transactions in 2023-24, urging them to compute their advance tax liability correctly and deposit the due tax on or before March … Read more

Tax Mop-Up: Advance tax kitty swells nearly 20% to Rs 6.2 lakh crore

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Tax Mop-Up: Advance tax kitty swells nearly 20% to Rs 6.2 lakh crore

NEW DELHI: Advance tax collections have increased nearly 20% to over Rs 6.2 lakh crore, helping sustain the growth momentum seen during the current fiscal.The provisional data for advance tax up to Sunday, which includes the third instalment, is seen to be healthy with corporation tax accounting for Rs 4.8 lakh crore or nearly 77% … Read more