Income Tax : India's Income Tax Department shifts to a taxpayer-friendly approach, prioritizing silent recoveries, refund adjustments, and redu...
Income Tax : Learn about different types of income tax notices, letters, and orders issued by the Income Tax Department to individual taxpayers...
Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Received an SMS about Section 80GGC deductions? Learn why the Income Tax Department is scrutinizing claims and what steps to take ...
Income Tax : Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulat...
Income Tax : CBI arrests two Income Tax employees in Silchar for accepting Rs. 4,000 bribe as part of a Rs. 10,000 demand for PAN card closure....
Income Tax : The PAN 2.0 Project simplifies PAN/TAN management with a unified platform, paperless processes, and faster services. Approved by C...
Income Tax : Over 34 lakh Audit Reports filed on the e-filing portal by October 7, 2024, showing a 4.8% increase from last year, according to t...
CA, CS, CMA : KSCAA addresses glitches in the Income Tax portal, highlighting challenges faced by taxpayers and professionals, in a representati...
Goods and Services Tax : Bikaner Tax Consultants Association seeks an extension of the Income Tax Return filing deadline due to ITD portal glitches and iss...
Corporate Law : CAT directs CBDT to review transfer policies for Group B & C employees, ensuring fairness and alignment with Group A guidelines. D...
Income Tax : Kerala High Court rules that an income tax appeal filed with delay cannot be dismissed without considering the delay petition. App...
Service Tax : Bombay High Court rules that service tax cannot be imposed solely on income tax return data. The department may issue a fresh noti...
Income Tax : Calcutta High Court stays Section 148 notice issued by jurisdictional assessing officer citing procedural non-compliance with Sect...
Income Tax : Calcutta High Court stays Section 148 notice citing procedural irregularities under Section 151A and faceless assessment rules. Fu...
Income Tax : Nirmala Sitharaman Minister of Finance and Corporate Affairs Government of India Dy. No. 1759745 FM/FMP/2021 22/07/21 Message My h...
DGFT : Following DGFT services will not be available from 1 st June 2021 to 6th June 2021: i. Application for a new IEC ii. Application f...
Income Tax : 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 abou...
Income Tax : The Income Tax Department today said that tax returns filed by senior citizens above 60 years and small taxpayers with gross total...
Income Tax : On or about 12th January 2010, an officer in the Income Tax department, Mumbai, noticed that refunds had been issued from his juri...
Income Tax Department, Jaipur invites applications from Advocates / ex officers of the Income Tax Department / ex Members of the ITAT having requisite qualifications and experience for empanelment as Senior / Junior Standing Counsel to represent the Income Tax Department before the Jaipur Bench of Rajasthan High Court and other appellate forums.
The outsourcing of infotech functions by the Income Tax (IT) Department has emerged after extensive discussions, rigorous evaluation and comprehensive examination by various authorities. Till now no instance has come to light of involvement of Vendor Personnel of Service Providers of Centralised Processing Centre (CPC) and E-filing in data leak and refund frauds.
The Income Tax Department, Applications are invited from meritorious sports persons satisfying the requirements as mentioned in Annexure-1 for appointment to the posts of Tax Assistants, Notice Servers & Multi Tasking Staff.
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 small taxpayers, filing income-tax returns in ITR-1 and ITR-2 will be subjected to scrutiny only where the Income Tax department is in possession of credible information,”Central Board of Direct Taxes said in a statement.
The Government is mulling a probe by the Enforcement Directorate and the Income-Tax Department into the role of two Mauritius-based entities to identify their stakes in Devas Multimedia Pvt Ltd which executed the controversial S-band deal with the ISRO. It is also contemplating investigation into the activities of certain unknown government officials for their “collusive behaviour” and acts of omission and commission in extending undue favours to Devas at the Government exchequer’s cost.
In a major crackdown, the Income Tax department has under its scanner more than 22 crore instances of High Value transactions in the country and abroad which include unreported credit card operations and deals in real estate. The department has obtained, through its data mining and intelligence tools, instances of unreported transactions involving an estimated amount over Rs 2,000 crore.
Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country.A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its officials to launch a special drive against those who have “not furnished their PAN (Permanent Account Number)” while entering into high value transactions.
Mahindra Satyam today said it has received a provisional attachment order from the Income Tax Department attaching land and buildings of the company. The company had received a provisional attachment order dated January 30, 2012, from the Additional Commissioner of Income Tax (ACIT), Central Range — 3, Hyderabad attaching land and buildings of the company, it said in a filing to the BSE.
The government on Friday said some of the persons named in the French list of people having funds abroad given to India have voluntarily paid about Rs 135 crore in taxes. Although the tax has not been assessed or raised yet, some persons have voluntarily paid taxes amounting to about Rs 135 crore so far,Minister of State for Finance S S Palanimanickam said in a written reply in Lok Sabha.
The Income Tax Department today conducted searches at the premises of prominent industrialist Gautam Singhania here and in Delhi over alleged tax evasion. The I-T operation began early in the morning and was initiated by the Intelligence Wing of the department.
