IT department

Income Tax Crackdown: ₹30,444 Crore in Undisclosed Income Detected in FY25

by
Income Tax Crackdown: ₹30,444 Crore in Undisclosed Income Detected in FY25

The Income Tax department in India detected over ₹30,444 crore in undisclosed income during the fiscal year 2024-25. This was the result of 465 surveys conducted by the department. This information was shared with Parliament by Minister of State for Finance Pankaj Chaudhary, who noted that such actions, including surveys and search-and-seizure operations, are taken … Read more

Capital Gains Tax Changes 2024-25: What Every Investor Needs to Know

by
Capital Gains Tax Changes 2024-25: What Every Investor Needs to Know

Reporting capital gains accurately in your Income Tax Return (ITR) is more critical than ever, given the Income Tax Department’s intensified monitoring. With advanced data-matching systems, the IT Department is closely scrutinizing disclosures of income from equities, mutual funds, and even buyback transactions. To avoid notices and penalties, diligent documentation and professional guidance are no … Read more