Income tax department

Section wise Income Tax Deductions for A.Y. 2020-21/ FY 2019-20

Income Tax - In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. 2020-21 / F.Y. 2019-20 and subsequent Years. Deductions include deduction Against Salaries, Against ‘income from house properties‘, Against ‘profits and gains of business or profession‘ Against R...

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Aaykar Seva Kendra

Income Tax - Aaykar Seva Kendra (ASK) is A multi-faceted mechanism for achieving excellence in public service delivery reflecting the Service Quality policy of the Income Tax Department....

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Tax Deduction/Collection Account Number (TAN)

Income Tax - Article discusses about Meaning/ Structure/ Relevance of TAN, Persons liable to apply for TAN, Consequences of not quoting TAN, Procedure to obtain TAN, Places from where to obtain Form 49B, Authority empowered to allot TAN, Procedure for online TAN application....

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Few tips to Prevent Income Tax Raids

Income Tax - One should not keep any unaccounted or undisclosed money, property or income popularly known as black money. If such a disclosure is made before its detection by the Income Tax Department, the chances of being trapped in a tax raid are minimized. A tax raid may also be conducted against a person in possession of undisclosed income or prop...

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PAN Meaning, Significance, who can apply & Procedure

Income Tax - Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN....

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Initiatives to enhance technology back bone of Income Tax Department

Income Tax - The Government is continuously taking several initiatives to enhance the technology back bone of the Income Tax Department (ITD). ITD is having a dedicated directorate called ‘Directorate of System’ which handles the technology aspects of the various functions of the Department. A brief highlight of the technological developments whic...

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Centralized Processing Centre (CPC) gets unique Pincode

Income Tax - A unique PINCODE 560500 has been allotted to Centralized Processing Centre (CPC), Income Tax Department located in Bengaluru by the Department of Post. Taxpayers can henceforth address their mails to “Centralized Processing Center, Income Tax Department, Bengaluru 560500” for the purpose of submission of ITR-V forms and other document...

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Election Commission Applauds Role of Income Tax Department during 2016 Elections

Income Tax - The elections provided an opportunity for the officers and staff of the Income tax Department to contribute to the democratic process, both as citizens participating in elections, and as empowered Government officers carrying out their duties with professional competence and dedication...

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Tax authorities should treat each taxpayer as a customer

Income Tax - It said the tax authorities should treat each taxpayer as a customer of the Tax Department and make adversarial approach between taxpayer and department a thing of the past. Customer focus should be strengthened and taxpayers should be provided with facilitating services to encourage him to comply with the taxation rules which should be e...

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CPC Helpline Number – Income Tax dept, Bangalore with FAQs

Income Tax - To assist taxpayers CPC has established Customer care helpline, a limited call center service at ITD-CPC, Bangalore for queries related to ITR-V Receipt Status, Refund /Refund re-issue, Rectification, Income tax /PAN/TAN, e-Filing of returns, e-Filing Login, Form 26AS and Form 16. ...

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Assessment records of third parties can be demanded under RTI

Shri Rakesh Kumar Gupta Vs ITAT (Central Information Commission) - The Applicant, an informer of the department, filed a RTI application seeking inspection & copies of all records available with the income tax department including assessment orders of Escorts Ltd, Dr. Naresh Trehan and connected parties. The application was rejected by the PIO on the ground that th...

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Validity of Selection of case for scrutiny assessment-Selection contrary to CBDT’s instructions

CIT vs Best Plastics (P) Ltd. (Delhi High Court) - CIT vs Best Plastics (P) Ltd. The Commissioner of Income-tax and the Income-tax Appellate Tribunal have both relied upon a decision of the Supreme Court in Commissioner of Customs v. Indian Oil Corporation Ltd. [2004] 267 ITR 272 to have that the circulars issued by the Central Board of Direct Taxes...

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Proceeding in CCD case was as per law: Income Tax Department

NO.ITO/PR/PRESS/2019-20 - (30/07/2019) - A note said to be written by Shri. V G Siddhartha (VGS) of CCD is doing the rounds. Among others it was mentioned in the note about the attachment of Coffee day shares by the Income Tax department. The authenticity of the note is not known and the signature does not tally with Shri VGS's signature a...

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No Income Tax Scrutiny of Senior Citizens and Small Tax payers Having Gross Income less then 10 Lakh

Press Release No.402/92/2006-MC (07 of 2011) - (14/03/2011) - The Income Tax Department today said that tax returns filed by senior citizens above 60 years and small taxpayers with gross total income of less than Rs 10 lakh will not be scrutinised in a routine manner. "It has been decided that during the financial year 2011-12, cases of senior citizens and sma...

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CBDT Press Release on I-T refund fraud in Mumbai

No.402/92/2006-MC (05 of 2010) - (25/01/2010) - On or about 12th January 2010, an officer in the Income Tax department, Mumbai, noticed that refunds had been issued from his jurisdiction without his knowledge or approval of his higher authorities. He immediately brought the matter to the notice of his superior officers. 2. On internal inquiry by ...

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TDS on Salaries-Income Tax Provisions for Financial Year 2009-2010

Circular No. 1/2010-Income Tax - (11/01/2010) - The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2009-2010 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the...

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Sec. 195 of Income-tax Act – Remittances of Consular receipts

Circular No. 9/2009 - Income Tax - (30/11/2009) - Circular No. 9/2009 - Income Tax In view of the above, while remitting consular receipts abroad, diplomatic missions in India will be required to submit only a self certified undertaking in Form No 15CA to the remitter bank. They are not required to obtain a certificate from an accountant/ certific...

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Recent Posts in "Income tax department"

Section wise Income Tax Deductions for A.Y. 2020-21/ FY 2019-20

In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. 2020-21 / F.Y. 2019-20 and subsequent Years. Deductions include deduction Against Salaries, Against ‘income from house properties‘, Against ‘profits and gains of business or profession‘ Against R...

Read More
Posted Under: Income Tax |

Aaykar Seva Kendra

Aaykar Seva Kendra (ASK) is A multi-faceted mechanism for achieving excellence in public service delivery reflecting the Service Quality policy of the Income Tax Department....

Read More
Posted Under: Income Tax |

Tax Deduction/Collection Account Number (TAN)

Article discusses about Meaning/ Structure/ Relevance of TAN, Persons liable to apply for TAN, Consequences of not quoting TAN, Procedure to obtain TAN, Places from where to obtain Form 49B, Authority empowered to allot TAN, Procedure for online TAN application....

Read More
Posted Under: Income Tax | ,

Proceeding in CCD case was as per law: Income Tax Department

NO.ITO/PR/PRESS/2019-20 (30/07/2019)

A note said to be written by Shri. V G Siddhartha (VGS) of CCD is doing the rounds. Among others it was mentioned in the note about the attachment of Coffee day shares by the Income Tax department. The authenticity of the note is not known and the signature does not tally with Shri VGS's signature as available in his annual reports...

Read More

Initiatives to enhance technology back bone of Income Tax Department

The Government is continuously taking several initiatives to enhance the technology back bone of the Income Tax Department (ITD). ITD is having a dedicated directorate called ‘Directorate of System’ which handles the technology aspects of the various functions of the Department. A brief highlight of the technological developments whic...

Read More
Posted Under: Income Tax |

Few tips to Prevent Income Tax Raids

One should not keep any unaccounted or undisclosed money, property or income popularly known as black money. If such a disclosure is made before its detection by the Income Tax Department, the chances of being trapped in a tax raid are minimized. A tax raid may also be conducted against a person in possession of undisclosed income or prop...

Read More
Posted Under: Income Tax |

PAN Meaning, Significance, who can apply & Procedure

Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee (e.g. individual, firm, company etc.) is issued a unique PAN....

Read More
Posted Under: Income Tax |

Power of Social Media: I. T. Department relaxes restrictions on profile update

On 22nd September 2017 to further terrorise the taxpayers and Professionals Income Tax Department has come up with a new requirement by which it has specified that from now onwards a Mobile number and Email address could be used only for three Income Tax Accounts instead of current limit of 10 accounts. Due to such […]...

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Centralized Processing Centre (CPC) gets unique Pincode

A unique PINCODE 560500 has been allotted to Centralized Processing Centre (CPC), Income Tax Department located in Bengaluru by the Department of Post. Taxpayers can henceforth address their mails to “Centralized Processing Center, Income Tax Department, Bengaluru 560500” for the purpose of submission of ITR-V forms and other document...

Read More
Posted Under: Income Tax |

Election Commission Applauds Role of Income Tax Department during 2016 Elections

The elections provided an opportunity for the officers and staff of the Income tax Department to contribute to the democratic process, both as citizens participating in elections, and as empowered Government officers carrying out their duties with professional competence and dedication...

Read More
Posted Under: Income Tax |

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