IT dept launches e-appeal filing system

IT dept launches e-appeal filing system

In yet another step aimed at reducing human interface between taxman and the taxpayer, the Income Tax department today operationalised a facility for e-filing of the first appeal before a tax officer

US business delegation to visit India in November

A US business delegation will visit India later this year to explore increased business and investment opportunities in the country.

Avoid rush of appeals in High Court: Pranab

Finance Minister Pranab Mukherjee said the Income Tax department should evolve a mechanism through which the disputes could be resolved.

IIT-GN, CIT to develop early quake warning system

The project is expected to be of immense help to first responders (first teams to respond) during a calamity.

CIT goes bankrupt; fifth largest bankruptcy in US

The century-old American lender CIT Group has filed for bankruptcy, the fifth largest in the country`s corporate history by assets at USD 71 billion.

CIT files for Chapter 11 bankruptcy protection

After struggling to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of mid-sized and small businesses.

Goldman owed USD 1bn if CIT fails

Goldman Sachs Group Inc (GS.N) would be due a payment of about $1 billion if troubled commercial lender CIT Group (CIT.N) were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.

CIT eyes bankruptcy if debt exchange plan fails

Ailing lending giant CIT Group warned Friday it might file for bankruptcy if it failed to launch a comprehensive debt-exchange plan to beef up capital levels.