Chowdary tipped to be new CBDT chief

Senior IRS officer KV Chowdary is tipped to be the new Chairman of the Central Board of Direct Taxes (CBDT), the apex authority of the Income Tax department.

EC seeks cancellation of tax benefits to 10 political parties

The Election Commission has sought withdrawal of tax exemption benefits to ten political parties from the CBDT on the grounds that they failed to submit their mandatory expenditure contribution reports on time to the poll body.

New PAN allotment norms put on hold; old procedure to continue

New norms for issuing of PAN (Permanent Account Number) cards have been put on hold by the Finance Ministry.

IRS officer Sudha Sharma is new CBDT chief

Senior IRS officer Sudha Sharma has been appointed as the new Chairperson of the Central Board of Direct Taxes in the Finance Ministry.

EC asks CBDT; I-T to monitor funding in polls

The EC has sought deployment of the investigation machinery of the Income Tax department for checking movement of illegal funds during the forthcoming assembly elections.

IT not harassing Baba Ramdev: CBDT chairperson

CBDT rejected charge that it was harassing Ramdev against whom it has slapped a Rs 58 crore notice for alleged violation of tax exemption provisions.

Over 4,600 public grievances pending with I-T dept

More than 4,600 public grievances are pending with the Income Tax department, the government said on Thursday.

‘Ponty was not tipped off, Rs 11 cr seized’

The Income Tax department had
seized Rs eleven crore in cash, jewellery and fixed deposits
and sealed 13 bank lockers during the searches of the premises
of liquor baron Ponty Chadha.

I-T probe report on Balakrishnan submitted to CBDT

The Income Tax department has
submitted to CBDT a "full probe report" of investments and assets of NHRC chief K G Balakrishnan.

No summons to MPs in black money cases: CBDT

The Central Board of Direct Taxes said that no summonses have been issued to MPs in con ection with investigation of black money cases.

Not targeting Team Anna, says CBDT chief

Top income tax authority Friday
said it has not given direction for targeting anyone for political reasons and action against a member of team Anna would have come in "normal manner".

Panel to curb blackmoney to meet today

The committee that was set up to strengthen ways to curb blackmoney is headed by CBDT chairman.

Tax evasion to be treated as criminal offence

CBDT has decided to treat tax evasion as a criminal offence, disclosed a source who wished to remain anonymous.

Panel on black money holds first meeting today

The panel decided to create a platform to seek comments from all the general public.

Govt sets up another panel on black money

The panel set up by Central Board of Direct Taxes in the Finance Ministry will suggest ways to trace tax defaulters.

Committee set up to strengthen ways to curb blackmoney

The committee will consult various stakeholders and submit its report within six months, a statement from the Finance Ministry said today.

CBDT to continue to enjoy phone tapping power

The CBDT will continue to enjoy the power of telephone tapping despite a strong recommendation by a Committee of Secretaries against it following a controversy in the wake of the Niira Radia episode.

CBDT examining allegations of tax evasion by political parties

Revenue Department said it is examining reports on political parties provided by the Election Commission.

CBDT inquiring into alleged leak of tapes: Chidambaram

The CBDT had conducted the phone tappings over a period
of time for which the sanction was given by the Home Ministry.

Black money trail: CBDT signs pact with FIU

Black money stashed abroad by Indians will now be traced more efficiently as Central Board of Direct Taxes (CBDT) and the Financial Intelligence Unit have signed a pact to exchange information on tracking unaccounted funds.