Tax

Now, IT dept to get defaulters address from banking, municipal authorities

Now, IT dept to get defaulters address from banking, municipal authorities

The database of the government means all databases where a taxpayer is registered, like a driving license or voter ID, and the local authority means the municipal body or a similar department.

Dec 24, 2017, 11:35 AM IST
I-T dept to slap higher tax rate on fraudulently revised ITRs filed post demonetisation

I-T dept to slap higher tax rate on fraudulently revised ITRs filed post demonetisation

The idea behind the CBDT directive is that the legal provision of filing a revised or belated ITR is not misused and black income is not shown as white in the aftermath of demonetisation by a taxpayer.

Nov 26, 2017, 15:02 PM 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
Black money: 21,000 people disclose Rs 4,900 crore under new income declaration scheme

Black money: 21,000 people disclose Rs 4,900 crore under new income declaration scheme

The scheme was launched in December last year by the government to enable people with black money to come clean by paying tax and penalty of 50 percent.

Sep 07, 2017, 19:01 PM IST

GST will have positive impact on states' finances: Ind-Ra

Even in the short term, the impact on aggregate state finances will be positive but calculations show that the picture may vary from state to state, it said in a report.

Aug 28, 2017, 15:49 PM IST
I-T dept open to reducing withholding tax for companies

I-T dept open to reducing withholding tax for companies

The income tax department is open to lowering the withholding tax rate for foreign companies which have income in India, a senior official said on Wednesday.

 

Aug 23, 2017, 14:19 PM IST
Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid

Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid

Filing of income tax return –the annual ritual –can get really troublesome if you don't pay heed to the details. Every year, numerous applications get rejected due to incorrect or mismatched information.

Jul 19, 2017, 17:17 PM IST
Over 36 lakh bank a/cs saw cash deposit of Rs 10 lakh or more in a financial year

Over 36 lakh bank a/cs saw cash deposit of Rs 10 lakh or more in a financial year

Over 36 lakh bank accounts have seen cash deposits of Rs 10 lakh or more in a financial year, Parliament was informed on Tuesday.

Jul 18, 2017, 15:39 PM IST
Vajpayee, not Congress, set the ball rolling on GST: Finance Minister Jaitley

Vajpayee, not Congress, set the ball rolling on GST: Finance Minister Jaitley

Finance Minister Arun Jaitley on Thrusday said the first move towards the landmark GST was made by the Atal Bihari Vajpayee government 17 years back, and not the Congress.

Jul 06, 2017, 19:30 PM IST
'Apprehension about price rise post-GST misplaced'

'Apprehension about price rise post-GST misplaced'

Ruling out any price rise post Goods and Services Tax (GST), former Revenue Secretary Shaktikanta Das has said such apprehensions are "misplaced" and initial hiccups in its implementation will be sorted out in the next 2-3 months.

Jul 02, 2017, 11:43 AM IST

GST reality report: Public responds to government's latest implementation

GST has made to it's launch and now people in different parts of the country share their reactions of how successful they think is GST will be for India.

Jul 01, 2017, 16:04 PM IST
GST regime from July 1: What will be cheaper- Here’s the complete list

GST regime from July 1: What will be cheaper- Here’s the complete list

A list of supplies, where the GST incidence is lower than the present combined indirect tax rates.

Jun 30, 2017, 19:03 PM IST
All India ITR launches income tax e-filing app

All India ITR launches income tax e-filing app

All India ITR (www.allindiaitr.com), a government authorised e-filing website, on Tuesday launched a mobile application to make the process of income tax e-filing simple.

 

Jun 13, 2017, 18:41 PM IST
Telecom industry's cash deficit at Rs 1.2 lakh crore: RCom

Telecom industry's cash deficit at Rs 1.2 lakh crore: RCom

Intense tariff war and high taxes are expected to squeeze Indian telecom operators, leaving a gaping Rs 1,20,000 crore deficit between the industry's earnings and its debt/payment commitments this year, says debt-laden Reliance Communications.

Jun 04, 2017, 16:11 PM IST
Income Tax department warns against cash dealings of Rs 2 lakh, seeks tip-off

Income Tax department warns against cash dealings of Rs 2 lakh, seeks tip-off

Income Tax department on Friday warned people against indulging in cash transaction of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

Jun 02, 2017, 17:11 PM IST
I-T dept disloses names of 5 defaulters in Delhi

I-T dept disloses names of 5 defaulters in Delhi

As part of its strategy to "name and shame" big defaulters, the Income Tax Department on Thursday published names of five entities who owe over Rs 10 crore in taxes.

 

May 18, 2017, 15:35 PM IST
91 lakh new taxpayers added, undisclosed income of Rs 16,398 crore identified post demonetisation

91 lakh new taxpayers added, undisclosed income of Rs 16,398 crore identified post demonetisation

Personal income tax return filing has gone up post-demonetisationdue to ownership of unanimous money being identified, Finance Minister Arun Jaitley said on Tuesday.

May 16, 2017, 17:55 PM IST
I-T dept to seek info on deposits made during demonetisation in new ITRs

I-T dept to seek info on deposits made during demonetisation in new ITRs

The taxman will seek data on deposits made by an assessee during the demonetisation period as part of the new Income Tax Returns (ITRs) that would be notified soon for assessment year 2017-18.

 

Mar 30, 2017, 20:06 PM IST

Govt to bring 1-page income tax return filing process from April 1

Govt to bring 1-page income tax return filing process from April 1. Watch complete news story of News 360 for getting the detailed news updates!

Mar 28, 2017, 20:28 PM IST
Centre to get greater chunk in residual GST Compensation Fund

Centre to get greater chunk in residual GST Compensation Fund

The Centre will have a greater share of the residual amount in the compensation fund at the end of the 5-year period as the GST Bill now provides for equal sharing of the amount as against the earlier formula which favoured states.

 

Mar 27, 2017, 15:01 PM IST