Black money: CBDT asks I-T dept to speed up overseas requests
Black money: CBDT asks I-T dept to speed up overseas requests

With the current financial year coming to a close soon, CBDT has asked the Income Tax department to speed up select black money and tax evasion probe cases which require cooperation from foreign agencies under existing bilateral treaties.

New software for filing digitally signed I-T returns
New software for filing digitally signed I-T returns

Taxpayers had recently reported that they faced issues in using the Digital Signature Certificate at the time of uploading their Income Tax Returns.

Atulesh Jindal appointed new CBDT chief

Senior revenue service officer Atulesh Jindal was Thursday appointed Chairman of Central Board of Direct Taxes (CBDT), the apex policy making body of Income Tax department.

I-T department to issue over 64,000 refunds to small taxpayers by month-end
I-T department to issue over 64,000 refunds to small taxpayers by month-end

As per an official data, the Central Board of Direct Taxes (CBDT) has asked the taxman to issue refunds in a total of 64,938 pending cases involving Rs 1,148.14 crore, by January 31.

Tax officers to raise only specific queries in scrutiny: Adhia

Seeking to eliminate corruption and promote ease of doing business, the revenue department has asked field offices only to raise specific queries in income tax assessment cases picked up for scrutiny.      

Expedite scrutiny cases below Rs 5 lakh: CBDT to taxman

In fresh moves to end taxpayers grievances, CBDT has asked the taxman to "expeditiously" complete those scrutiny cases where income concealed is uptoRs 5 lakh .

Scrutiny notice to seek specific details from taxpayers: CBDT

CBDT has asked its field offices to make sure the assessment notice should contain details of specific information or documents to be furnished by the assessee.

Huge income tax relief! No HC appeal for monetary limit below Rs 20 lakh
Huge income tax relief! No HC appeal for monetary limit below Rs 20 lakh

The monetary limit for filing appeals or Special Leave Petitions in the Supreme Court have been kept unchanged at Rs 25 lakh.

Email project between Income Tax department, taxpayer delayed
Email project between Income Tax department, taxpayer delayed

The rollout of an ambitious pilot project of Income Tax department to begin paperless and email-based communication with taxpayers has been delayed as many chosen tax offices have not sent the required data to the CBDT even after over a month-and-a-half of the go-ahead.

Sheena Bora murder case: Indrani, Peter Mukerjea swindled Rs 275 crore?
Sheena Bora murder case: Indrani, Peter Mukerjea swindled Rs 275 crore?

In a new twist in Sheena Bora murder case, the Central Board of Direct Taxes (CBDT) report has said that Indrani and Peter Mukerjea laundered up to Rs 275.5 crore by their company, INX Media.

Income Tax department to use email for issuing notices

Income tax department will soon start e-communication with tax payers excluding the old means of communication.

CBDT notifies emails as new communication mode with taxpayers
CBDT notifies emails as new communication mode with taxpayers

The CBDT has notified use of emails as the new mode of communication between the taxman and taxpayers.

IT, ED raids Karti Chidambaram's firms for 'tax evasion' and 'financial irregularities'
IT, ED raids Karti Chidambaram's firms for 'tax evasion' and 'financial irregularities'

Asserting that there was "no collateral purpose" behind its action, a late night press release issued by the CBDT in Delhi said the searches were based on "credible information of tax evasion" and "financial irregularities".

Govt seeks assistance from Switzerland in probe of Swiss bank accounts of Preneet Kaur
Govt seeks assistance from Switzerland in probe of Swiss bank accounts of Preneet Kaur

The government has sought assistance from Switzerland in probe of Swiss bank accounts of Congress leader Preneet Kaur and her son Raninder Singh.

 

CBDT proposes roadmap for elimination of tax exemption

Preparing the ground for gradual reduction of corporate tax to 25 percent from 30 percent.

Black money: CBDT reviews HSBC accounts, ICIJ cases
Black money: CBDT reviews HSBC accounts, ICIJ cases

The CBDT Thursday reviewed some important black money and tax evasion probes being conducted by the Income Tax department, including the HSBC Geneva banks list and few others where it is suspected that Indians have stashed assets abroad.

Black money: CBDT to review HSBC accounts, ICIJ cases tomorrow
Black money: CBDT to review HSBC accounts, ICIJ cases tomorrow

The CBDT will review some important black money and tax evasion probes being conducted by the Income Tax department Wednesday, including the HSBC Geneva banks list and few others where it is suspected that Indians have stashed assets abroad.

 

Good news for taxpayers! Income Tax grievances to be addressed in 2 months
Good news for taxpayers! Income Tax grievances to be addressed in 2 months

Taxpayers facing "high-pitched" assessments or unfair scrutiny by the Income Tax Department can now attempt to get their grievances redressed in a short time before undertaking the arduous litigation route of courts or other appellate mechanisms.

Income Tax department developing mobile app for filing returns
Income Tax department developing mobile app for filing returns

Income Tax department is developing a mobile app which can be used by users for filing their tax returns, a top finance ministry official said Saturday.

 

Govt extends tenure of Lahiri Panel by 1 year

Government has extended by one year the tenure of a high level committee set up under former Chief Economic Advisor Ashok Lahiri to suggest steps to sort out taxation problem being faced by the trade and industry.