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...
The Income Tax department today issued an order raising a tax demand of Rs.11,217.95 crore on Vodafone International Holdings BV treating it as an assessee in default under section 201(1) of the Income Tax Act, 1961 (the Act) for failure to deduct ta
Confronted with rising number of cases where financial data is encrypted electronically, the Income Tax department is hunting for high-end digital data extraction and investigation tools which can glean through erased information and recover internet
Income Tax sleuths will keep an eye on private functions such as ‘mundan’ and marriage held by persons associated with candidates in poll-bound Bihar to check if these ceremonies were being secretly financed by them to bribe voters. The details of mo
The money recovered from Harshad Mehta-led 1992 banking securities scam is lying idle. The distribution of 2,200 crore recovered from Mehta group by the custodian appointed under a Special Act by government is not taking place due to differences between two major claimants — the I-T department and banks and financial institutions (FIs) — which have lost money in the scam.
In a major crackdown, the Income Tax department is conducting nationwide searches on more than 70 premises of major real estate developers in the NCR including Paras and Amrapali group over alleged tax evasion. According to sources, more than 450 off
The Mumbai region of Income Tax Department which has been assigned a direct tax collection target of Rs 1,50,480 crore for the current financial year, has already collected Rs 34,000 crore, which is over a third of the all-India collection.
This is the time of the year when tax payers look forward to getting refunds from the IT Department if eligible. But for roughly seven out of 10 cases, income tax refunds have remained elusive for no fault of the tax payers. The income tax department maintains that it is also not at fault. According to senior taxmen, they reject an overwhelmingly large number of eligible cases every year for what they call the incidence of missing entries.
On July 24, 2010, the Finance Minister released Citizen’s Charter — a declaration of Income-Tax Department’s commitment to taxpayers. In this Charter, one of the commitments is to make compliance easy. In this background, one of the members of the CBDT has issued a D.O. letter dated June 18, 2010 to all Chief Commissioners of Income Tax, concerning giving credit for tax deducted at source (TDS). At present, a large number of lower- and middle-income taxpayers face the problem of their refunds being withheld.
The Indian Income Tax department on Monday told the division bench of the Bombay High Court that it has the jurisdiction to levy tax on the $11-billion acquisition of Indian telecom major Hutch-Essar by Vodafone. The division bench has been hearing a petition filed by Vodafone against the Income tax department
Tax deducted at source (TDS) has become a problematic issue with the income tax department as in more than 50% TDS refund cases it is facing an uphill task in matching the data provided in the assessee’s income tax returns with the TDS deductor’s information available with the NSDL.
