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Cost accountants are equipped to conduct tax audits, a senior official of the Institute of Cost Accountants of India (ICMAI) said on Thursday, making a case for treating such professionals as accountants under the provisions of the new Income Tax Bill, amid opposition from the chartered accountants’ body.
Read more at: The Economic Times
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As the FY draws to a close, it is time for taxpayers across the country to initiate their annual ritual of filing their ITR. As per reports, the total number of income tax returns filed during the AY 2022-23 reached 7.51 crores, which is a significant increase from 6.63 crores in AY 2021-22. And in the AY 2023-24, more than 8.18 crores returns were filed.
The latest data released by the income tax department shows that over 9.11 crore registered users have filed their income tax returns (ITR) for FY 2024-25 until Feb 28, 2025. This figure is quite significant given that the total number of registered users stand at 13.96 crore, which means over 65 percent of registered users have filed their income tax returns for the current year.
Post Views: 522 The figures of Direct Tax collections for the Financial Year 2023-24, as on 17.06.2023 show that net…