The high-value transaction trails were detected following the department's drive to bring to book maximum amount of black money during the one-time compliance window closing on September 30.
For greater ease of doing business in India, the CBDT on Monday said it has put in place new protocols which will ensure that corporates are allotted PAN and Tax Deduction Account Number (TAN) within a day.
Employees who fail to buy air tickets at the lowest price available on the day while undertaking journey on Leave Travel Concession (LTC) claim will face severe penal action, as per the draft guidelines finalised by the Centre.
The department has suggested the taxpayers to opt for e-filing of their Income Tax Returns (ITRs) and enjoy a hassle-free processing of the annual returns filing exercise.
CBDT has directed the Income Tax department to "expeditiously" issue refunds worth Rs 5,000 for last three assessment years in order to provide immediate relief to taxpayers.
It's highly recommended that the additional money you receive is invested wisely.
In a relief to tax payers, the government has asked taxmen not to proceed with recovery of a 'confirmed' demand in relation to indirect taxes during pendency of stay applications.
Knowledge about how interest is calculated is an important approach towards using credit card more effectively.
CBDT has issued a new circular clarifying that the Tax Collected at Source (TCS) levy will not be applicable when cash part of the payment for certain goods or services is less than Rs 2 lakh, even when the total payment is more than this amount.
The weakening of British pound is seen as positive by the travel agents and realty consultants in India who facilitate overseas transactions, and expect more of Indians travel to the UK on leisure tourism or investment in the property market there.
Payout day of 7th Pay Commission is fast approaching. As per media reports, August 1 may be the possible date when central government employees will get increased salaries and arrears.
Officials have been directed not to shy away from the rare provisions of arrest, detention and auctioning of attached assets of wilful income tax defaulters.
Know the rate of interest on various small savings schemes for the July-October quarter of 2016-17 fiscal.
Here are the key facts you should know about the premature PPF withdrawal.
Retirement fund body EPFO on Friday said it has updated over 17 crore member accounts, crediting interest rate of 8.8 percent for fiscal 2015-16.
Not all can undertsand the tricky relationship between the investment made and rate of return earned on the amount.
In order to avoid the existing EPF account (in his last company) from becoming out of action due to change of job, one must follow this procedure.
7th Pay Commission: Calculate your expected arrears using this calculator!