income tax department

E-filing: Over 50 lakh ITRs e-verified by Income Tax dept

The Income Tax department's ambitious OTP-based ITR filing system for taxpayers has crossed the 50 lakh e-verification mark, while more than 39 lakh Aadhaar numbers have been successfully linked with the PAN database after th

income tax

Taxmen’s appraisal format tweaked to ensure speedier disposal

Seeking to end harassment of tax payers, the Income Tax department today came out with a new appraisal form for its officials that will judge their performance based on the pace of disposal of cases and quality of assessment.

Finmin directs taxman to quote email, phone number in e-notices

The department has recently launched a first-ever pilot project to begin an email based scrutiny assessment of taxpayers in select cities.

income tax department

Email project between Income Tax department, taxpayer delayed

The rollout of an ambitious pilot project of Income Tax department to begin paperless and email-based communication with taxpayers has been delayed as many chosen tax offices have not sent the required data to the CBDT even a

tax

Income tax returns: I-T Department’s new mobile app coming soon

Income Tax returns: The Income Tax Department is developing a mobile app which can be used by tax payers to file their income tax returns, a top finance ministry official revealed.

Govt investigating over 2,000 people flagged by MCA

Move continuation of crackdown the income-tax department had commenced early this year

income tax department

Income Tax Department’s new directive on norms: Top 5 ways taxpayers will benefit

Under new rules, Income Tax Department has asked its customer care centres to monitor email complaints of taxpayers about their income tax returns and other problems and diligently send them to tax officers. Here we explain t

income tax

CBDT looks to connect with taxpayers online in smaller cases

The Central Board of Direct Taxes (CBDT) has identified non-corporate charges at five locations and 100 initial cases for e-hearing.

tax

Income Tax Department employees to hold day-long strike today; over 50,000 officers and staff to participate

Over 50,000 employees of the Income Tax Department will go on a day-long countrywide strike on Thursday to press for their service-related demands.

Income Tax dept strike

Where is India’s black money? Reports gather dust even as Modi govt scheme fails

With the black money scheme turning into a big embarrassment for Narendra Modi and the BJP, the PM must tell FM Arun Jaitley to disclose the findings of the black money reports...

Black money: Narendra Modi govt manages to collect Rs 3,770 cr

The Narendra Modi government today said it received an amount of Rs 3,770 crore from 638 declarations under the one-time black money compliance window that closed yesterday.

Income Tax department to use email for issuing notices

In welcome news for taxpayers, the IT department has decided to launch a new system of issuing email notices to which an assessee can respond electronically, obviating the need for a physical interface with the taxman which o

Income tax refunds in 7-10 days: Taxman harnesses Aadhaar power for common man’s good

The linking of income tax return filing to Aadhaar by the Income-Tax Department is a good example for EPFO, Election Commission and others to follow to help the common man.

Use Tax Return Preparers to file returns before deadline: Income Tax Department

The Income Tax Department has asked all tax payers to make appropriate use of Tax Return Preparers (TRPS) to file their income tax returns by August 31, 2015, the deadline set by it.

Opinion: Govt must clarify quickly about MAT on FPIs

Sitting on the A P Shah panel recommendations on MAT will only add to the confusion. FM Arun Jaitley should tell the income tax department to make its position clear without any further delay

Income Tax Dept moves SC to tax Copal Group’s offshore deals

HC order had exempted Mauritius-based Copal Group from capital gains tax liability in India

Finance Ministry asks taxpayers to e-file Income Tax returns early

The tax department, yesterday, made fully operational its e-filing website for taxpayers to file their I-T returns for assessment year 2015-16.

income tax returns

CCITs can take decisions on contesting tribunal rulings

The income tax (I-T) department has given chief commissioners of income tax (CCIT) the power to decide whether or not to appeal against a tribunal decision to the high court without having to consult their peers or superiors.

Income Tax department puts on hold Aberdeen MAT case until apex court ruling

The Income Tax (I-T) department on Tuesday said it will wait for the apex court’s ruling before pursuing the matter on minimum alternative tax (MAT) against Aberdeen Asset Management in the Bombay High Court (HC).

Income Tax dept to ‘put on hold’ present MAT cases at Bombay HC

I-T department asked to await final outcome of Castleton Investments' case pending at SC and law commission decision before proceeding with present cases at HC.

Budget 2016, Union Budget 2016, Budget 2016 latest news, Budget 2016 news, TDs, corporate tax, income tax, Budget 2016 income tax, arun jaitley, narendra Modi, Budget 2016 expectations india, latest business news

I-T dept won’t verify foreign asset disclosures

Protection from further scrutiny to be limited to foreign income disclosed during compliance window

HC to Income Tax dept: Should we continue hearing MAT case?

The income tax department had sent 68 notices involving tax worth Rs 602.83 crore.

income tax

New Income Tax return forms do not ask bank balance details, foreign trip information

New Income Tax return forms: The government had also extended the time limit for filing these returns up to August 31, in place of July 31, in view of the changes in the ITR forms.

income tax efiling

Income Tax department plans stringent action against habitual evaders

The Income Tax department plans to take stringent action against the tax evaders to ensure that they are prosecuted.

income tax efiling

Q1 corporate advance tax mop-up may be flat

According to the Income-Tax Act, companies are required to pay 15 per cent of their total advance tax in the first quarter, followed by 30 per cent, 30 per cent and 25 per cent in the next three quarters, respectively.

Corporate Tax

Tax Talk: With simplified forms, Income Tax department eases return pain

The income tax department has provided a huge relief to individuals and HUFs by simplifying the return forms, which had caused a lot of consternation among taxpayers.

income tax returns efili

Income Tax Department conducts raids at Chettinad Group of companies

A top Income Tax official said that raids were carried out in 37 places of the Chettinad Group in Tamil Nadu, two places in Andhra Pradesh and a few places in Mumbai.

chettinad founder
Advertisement
Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

Stock Market

Most Read

Advertisement

Top News

Advertisement

Related Articles