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 last week sent notices to six Mumbai-based third party administrators (TPAs), who process insurance claims, askingthem to cough up Rs 117 crore for two consecutive financial years, beginning 2008-09.
In a major operation against alleged tax evasion, officials of the Department of Income Tax carried out simultaneous raids at 20 offices and residences of four industrialists, including a Congress leader, and scrutinised their property details here on Friday. Income Tax department unearthed several cases of Income Tax evasion by them. They also seized many documents pertaining to illegal property documents and unaccounted cash among others.
On October 30, 2009, the Income-Tax Department issued a notice to Vodafone International Holdings BV (VIH BV) over its 11.2-billion dollar purchase of Hutchison Telecom’s Indian operations (Vodafone Essar) in 2007. “Vodafone International Holdings BV (VIH-BV) was required to file its explanation by November 16, 2009. However VIH BV has requested for further time till January 29, 2010,” Minister of State for Finance S S Palanimanickam said in a written reply to the Lok Sabha.
The Minister of State for Finance, Shri S. S. Palanimanickam, gave the below information in written reply to a question raised in Lok Sabha.The Income Tax Department, assisted by the Enforcement Directorate, has conducted searches and seizure operation recently in various States of the country. Various lockers, bank accounts and premises are under propitiatory orders as per the provisions of the Income Tax Act, 1961. The seized documents/materials are being further investigated.
Two days after TOI reported about the distorted Indian maps in wallpapers on laptops supplied to the income-tax department, the supplier (Lenovo) has started removing it. The systems department of the income-tax department has informed its officials about the time and day of the company’s visit. “In some laptops, they have already removed it. In the next few days, the entire exercise should be over,” an incometax official said.
An Information Technology (IT) Education and Multilevel Marketing group has surrendered undisclosed income of more than Rs 35 crore, before the Income Tax Department for taxation. The disclosure, biggest ever in Rajasthan, was made during the course of raids and survey conducted by the departmental sleuths at the group premises here and in Jhunjhunu town.
The Supreme Court today dismissed the Income Tax department’s (I-T) plea challenging the decision of the Authority of Advanced Rulings (AAR) that allowed French firm Timken France SAS to claim capital gains tax benefits.
The Supreme Court has decided to examine the issue of whether foreign law firms charging professional fees from Indian companies and businessmen are liable to pay income tax in the country. A bench headed by Justice S H Kapadia has issued notices to a London-based law firm on a petition filed by the Income Tax Department.
Tax defaulters beware. The income tax department is considering publishing the names of habitual tax defaulters with large tax demands pending. According to official sources, the department is planning to compile a list of all cases, where there is a tax demand of over Rs 1 crore with no pending appeals.
The Income Tax department has issued a detailed notice today (comprising 531 pages along with annexure running into 1901 pages) under section 201(1) and 201(1A) of the IT Act 1961 to Vodafone International Holdings BV(VIH BV) requiring it to show cause as to why it should not be held that the Department has competent jurisdiction to proceed against it for the default of non-deduction of tax at source from the payment of USD 11.2 billion made on 8th May 2007 to Hutchison Telecommunications International Ltd (HTIL) for transfer of interest in the Indian company Hutch Essar Ltd (HEL).
