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Nokia yet to come up with concrete proposal to settle tax row: CBDT

Last Updated: Monday, March 24, 2014, 21:46

Nokia India Pvt Ltd so far has not come to the Central Board of Direct Taxes (CBDT) with a concrete proposal to settle its tax row with the department, a senior finance ministry official said Monday.

TDS due date extended till Mar 31 for govt deductors

Last Updated: Thursday, March 06, 2014, 22:43

The Revenue Department has extended the due date of filing TDS and TCS for 2012-13 and 2013-14 till March 31 in case of government deductors.

73% of direct tax target collected till February

Last Updated: Sunday, March 02, 2014, 12:20

With over 73 percent of its revenue target collected by February, the Income Tax department is hopeful of achieving a full kitty of direct tax collection of Rs 6.36 lakh crore by the end of this financial year on March 31.

'Adopt uniform procedures for non-filers of I-T returns'

Last Updated: Tuesday, September 24, 2013, 19:53

With an aim to check tax evasion, the Central Board of Direct Taxes (CBDT) has tightened norms to deal with 'no-filers' of income tax returns and asked its officers to follow uniform procedure in handling such cases.

Govt warns tax deductors who fail to deposit TDS by due date

Last Updated: Tuesday, August 06, 2013, 20:28

In a stern warning, the Revenue department Thursday said tax deductors who default in depositing TDS by due date will be liable for prosecution and can be imprisoned for up to seven years.

Foreign donations above Rs 1 crore under tax scanner

Last Updated: Tuesday, August 06, 2013, 16:59

All foreign donations above Rs 1 crore will now come under the scrutiny of the Income Tax department.

Investors based in tax havens may have to share info with CBDT

Last Updated: Sunday, August 04, 2013, 18:09

Companies routing investments through tax havens will find it difficult to evade taxes with the introduction of norms requiring them to sign an agreement to share banking and other information with the CBDT.

Salary earners upto Rs 5 lakh need to file I-T return: CBDT

Last Updated: Monday, July 22, 2013, 19:39

The Central Board of Direct Taxes (CBDT) had exempted salaried employees having total income of upto Rs 5 lakh including income from other sources upto Rs 10,000 from the requirement of filing income tax return for assessment year 2011-12 and 2012-13, respectively.

Relief to IT sector; CBDT withdraws circular, amends another

Last Updated: Sunday, June 30, 2013, 19:24

In a breather to the IT industry, the Income Tax Department Sunday withdrew a controversial circular and modified another one relating to taxation of R&D centres, which play a key role in software development.

Breather for IT cos: CBDT withdraws a controversial circular

Last Updated: Saturday, June 29, 2013, 19:02

The decisions were taken following representation from the industry for greater clarity on two circulars concerning international taxation or transfer pricing.

Difficult to recover 97% of Rs 4.82 lakh cr tax arrears: CBDT

Last Updated: Sunday, June 23, 2013, 13:41

The total arrears amount to be recovered, stuck because of a variety of reasons like litigation, companies in liquidation, sick companies and untraceable taxpayers, is Rs 4.82 lakh crore.

Current taxpayers number too small: CBDT chief

Last Updated: Monday, June 17, 2013, 17:35

The current number of people who pay taxes in the country is "too small" and the Income Tax department will focus on non-filers and stop-filers to increase government's revenue collection, newly appointed CBDT chairperson Sudha Sharma told her officers Monday.