Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : The framework permits taxpayers to settle offences by paying prescribed compounding charges instead of facing prosecution. It clar...
Income Tax : CBDT amended Income-tax Rules to include crypto-assets and digital financial products in CRS reporting. The move expands disclosur...
Income Tax : The Draft Income-tax Rules, 2026 require salaried taxpayers to disclose their relationship with landlords, enabling enhanced scrut...
Income Tax : Refunds for AY 2025–26 are being withheld after system-based risk checks detected discrepancies. Taxpayers are advised to review...
Income Tax : CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance dete...
Income Tax : The Government stated that representations on own merit promotions are examined regularly as per existing rules, with no separate ...
Income Tax : Draft Income-tax Rules and Forms have been released for public feedback before the new law takes effect, with inputs to shape the ...
Income Tax : Following judicial criticism of delayed appeals, officers urged structural reforms to fix institutional gaps rather than penalisin...
Income Tax : The NUDGE campaign targets fraudulent claims under sections 80G and 80GGC, helping taxpayers voluntarily revise returns and avoid ...
Income Tax : Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authorit...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : ITAT held that delay in filing Form 9A cannot automatically result in denial of exemption under Section 11. The issue was sent bac...
Income Tax : The Tribunal ruled that assessment orders in e-proceedings must be digitally signed as per CBDT instructions. A manually signed or...
Income Tax : The issue was whether CBDT jewellery instructions could shield bullion found during a search from taxation. The Tribunal held that...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : Explains the CBDT notification granting section 10(46) exemption to a district legal services authority and the categories of inco...
Income Tax : The Central Government notified an urban development authority under section 10(46A) of the Income-tax Act. The exemption applies ...
Income Tax : CBDT instructs CIT(A) offices to issue intimation confirming withdrawal of appeals for MAP-resolved grounds, serving as proof for ...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
The last date by which a person must pay the tax and penalty in respect of the undisclosed foreign assets so declared shall be the 31st day of December, 2015. Detailed features of the compliance window are notified separately.
The Finance Minister, in the budget speech this year, had announced that a comprehensive new law to deal with black money stashed away abroad would be enacted. The Bill to enact the proposed new law was passed by the Parliament in its Budget Session. The Bill received Presidential assent and became law on 26th May, 2015.
Release of Return Preparation Software: Software for preparing ITR 1 & ITR 4S in Java, Excel & Online for AY 2015-16 are now available for e-Filing. ITR 1 & ITR 4S can also be filled and submitted online after logging to the e-Filing website. E-filing of ITRs 2 and 2A will be enabled shortly. ITR […]
Objectives Improve the ease of conducting transactions for an individual Build a transactions history to enable improved credit access and financial inclusion. Reduce the risks and costs of carrying cash at the individual level. Reduce costs of managing cash in the economy.
Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary Tax Compliance It has been noticed that the certain section of media have referred to the Discussion Paper, circulated during […]
Finance Minister Shri Arun Jaitley Exhorts the Senior Officers of Income Tax Department to be Prompt in Redressing the Grievances of the Tax Payers, Expand the Tax Base in a Non-Intrusive Manner while Striving to Achieve the Revenue Generation Targets; Inaugurates the 31st Annual Conference of Pr. Chief Commissioners /Pr. Directors General/ Chief Commissioners /Directors […]
Most of the grievances received from public with regard to Income Tax matters pertain to delay in issue of refunds and non-credit of taxes paid. The delay is mainly due to wrong quoting of details by the taxpayers in the Returns/Challans, mismatch of TDS reported in returns and the TDS credit available on the System
While identifying non-filers of return through NMS, the Income Tax Department analyses and assimilates all in-house information as well as transactional data received from third-party including Annual Information Return (AIR), Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) statements, Central Information Bureau (CIB) data etc
Income Tax Department Awarded the Prime Minister’s Award for Excellence in Public Administration for ‘Easy Tax Compliance Through Quality Service’ The Income Tax Department has been awarded the ‘Prime Minister’s Award for Excellence in Public Administration’ for ‘Easy Tax Compliance through Quality Service’. The award was presented at a function at Vigyan Bhawan here today […]
The status of pending public grievances with the Income Tax Department was reviewed by Hon’ble PM yesterday through video-conferencing with Revenue Secretary and the undersigned. During the meeting, the Hon. PM expressed dissatisfaction about delays in responding to public grievances by our Officers as well as about the harassment meted out to the taxpayers and officious behaviour of our Officers.
