CBDT

You may face these penalties if you don't pay tax on time

You may face these penalties if you don't pay tax on time

Collection from income tax stood at Rs 1.88 lakh crore in 2015-16, lower from Rs 1.91 lakh crore in the previous year.

Dec 30, 2017, 11:06 AM IST
Govt sets up panel to review income tax laws

Govt sets up panel to review income tax laws

Prime Minister Narendra Modi, during the annual conference of tax officers in September, had observed that the Income-tax Act, 1961 was drafted more than 50 years ago and it needs to be redrafted.

Nov 22, 2017, 17:54 PM IST
300% jump in PAN applications post demonetisation: CBDT

300% jump in PAN applications post demonetisation: CBDT

Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said while there were around 2.5 lakh PAN applications per month earlier, after the Centre announced to scrap high value currency notes in November last year, the number rose to 7.5 lakh.

Nov 14, 2017, 22:00 PM IST
Demonetisation: I-T dept to issue notices to suspicious cash depositors

Demonetisation: I-T dept to issue notices to suspicious cash depositors

The people who have filed their returns will be examined against the amounts they have deposited during the period of demonetisation, so that we can see whether they have correctly disclosed their income or not, the CBDT chief said.

Nov 14, 2017, 20:08 PM IST

CBDT signs 7 more unilateral APAs with taxpayers

The seven APAs signed over the last month pertain to sectors like FMCG, semi-conductor, information technology, travel and leisure, office furniture and engineering.

Nov 02, 2017, 17:35 PM IST
Direct tax collections jump 16% to Rs 3.86 lakh crore till September

Direct tax collections jump 16% to Rs 3.86 lakh crore till September

A Central Board of Direct Taxes (CBDT) statement here said the collections for the period April-September amount to 39.4 per cent of the total budget estimates of direct taxes for the current financial year.

Oct 11, 2017, 18:03 PM IST
CBDT signs two more APAs with taxpayers

CBDT signs two more APAs with taxpayers

In fiscal 2017-18, 25 APAs (two bilateral and 23 unilateral) have been signed till date, the CBDT said in a statement.

Oct 07, 2017, 10:59 AM IST
Hyderabad, Pune and Chennai top targets for Income Tax Department tax base growth

Hyderabad, Pune and Chennai top targets for Income Tax Department tax base growth

The Income Tax Department has been tasked to add 1.25 crore new return filers in the current financial year as part of the government's plan to widen the tax base in the country.

Sep 28, 2017, 17:40 PM IST
Benami property secret informers to get reward of 1 crore

Benami property secret informers to get reward of 1 crore

According to the official, the information will have to be acute and identity of the informer will be kept secret. The department will never disclose the identity as this could endanger the informer. 

Sep 22, 2017, 19:04 PM IST
CVC to probe govt employees deposits post demonetisation

CVC to probe govt employees deposits post demonetisation

Deposits of scrapped currency notes made by central government employees post demonetisation will be probed by anti-corruption watchdog Central Vigilance Commission (CVC), its chief K V Chowdary said on Sunday.

Sep 17, 2017, 11:26 AM IST
Sluggish TDS growth: CBDT asks I-T dept to take urgent steps

Sluggish TDS growth: CBDT asks I-T dept to take urgent steps

CBDT Chairman Sushil Chandra has issued a stern directive to all the field offices of the Income Tax Department in this context and has sought an action taken report in less than a month's time.

Sep 14, 2017, 17:44 PM IST
Crackdown on shell companies: Tax dept, MCA to share PAN, audit reports

Crackdown on shell companies: Tax dept, MCA to share PAN, audit reports

The MCA is in the process of cancelling the registration of 2.09 lakh companies that have not been carrying out business activities for a long period.

Sep 14, 2017, 16:29 PM IST
Restaurants may soon have to pay tax on service charge

Restaurants may soon have to pay tax on service charge

Eateries still forcing customers to pay service charge may be subject to tax liabilities.

Sep 13, 2017, 11:20 AM IST
If Law Ministry has its way, 'netas' will soon have to disclose wives' income

If Law Ministry has its way, 'netas' will soon have to disclose wives' income

Politicians will soon have to disclose the income of their wives thanks to a proposal being studied by the Law Ministry.

Sep 13, 2017, 06:34 AM IST
Finance Ministry asks taxmen to submit note on high-pitched assessments

Finance Ministry asks taxmen to submit note on high-pitched assessments

Last year, the Central Board of Direct Taxes (CBDT) had set up 'local committees' comprising senior officers in each region to dispose such grievance and complaint petitions within a short period of time.

Aug 21, 2017, 15:44 PM IST
Hike in upfront payment in tax disputes harsh: Experts

Hike in upfront payment in tax disputes harsh: Experts

Naveen Wadhwa, DGM, Taxmann.Com opined that the hike in deposits is aimed at reducing the frivolous appeals by taxpayers.

Aug 20, 2017, 13:43 PM IST
No inconsistency in number of tax payers: CBDT

No inconsistency in number of tax payers: CBDT

The statement by the tax department follows some doubting the numbers over different figures quoted at different points of time.

Aug 18, 2017, 19:36 PM IST
Revenue dept's probes source of data on black money: FM Jaitley

Revenue dept's probes source of data on black money: FM Jaitley

Finance Minister Arun Jaitley on Wednesday said ongoing probes of and notices to depositors of unexplained money post note ban were among the sources to collate information about black money that figured in Prime Minister Narendra Modi's Independence Day speech.

Aug 16, 2017, 20:00 PM IST
Deadline to file ITR 2017 ends today – All you should know

Deadline to file ITR 2017 ends today – All you should know

Key things you should keep in mind for filing your ITR.

Aug 05, 2017, 10:57 AM IST
PAN card to be cancelled if not linked with Aadhaar till August 31

PAN card to be cancelled if not linked with Aadhaar till August 31

The interlinking of Aadhaar and PAN linking can be done till August 31. The government on Monday announced the extension in deadline. 

Jul 31, 2017, 16:21 PM IST