I-T department

Just over 2 crore Indians paid income tax in 2015-16: Official data

Just over 2 crore Indians paid income tax in 2015-16: Official data

Only 1.7 percent of the total population paid income tax in the assessment year (AY) 2015-16.

Dec 25, 2017, 21:24 PM IST
AAP gets notice from Income Tax Department, asked to explain discrepancies in donations

AAP gets notice from Income Tax Department, asked to explain discrepancies in donations

The I-T notice said AAP has not disclosed donations worth Rs 13 crore.

Nov 27, 2017, 14:19 PM IST
Benami assets: I-T dept scanning profiles of property registered over Rs 30 lakh

Benami assets: I-T dept scanning profiles of property registered over Rs 30 lakh

The Income Tax Department started initiating actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1 last year.

Nov 14, 2017, 22:44 PM IST

Companies may have to furnish Apr-Sept income estimates to I-T dept

The Central Board of Direct Taxes (CBDT) has come out with a draft notification seeking stakeholders' comment on filing of Form 28AA by giving details of income and advance taxes paid.

Sep 19, 2017, 18:38 PM IST
Sebi board to take stock of suspected shell cos on Monday

Sebi board to take stock of suspected shell cos on Monday

Those under scanner include over 300 listed companies as also hundreds of unlisted entities and individuals, suspected to be misusing the stock exchange platform for tax evasion, among other wrongdoings, a senior official said.

Sep 17, 2017, 14:52 PM IST
Sluggish TDS growth: CBDT asks I-T dept to take urgent steps

Sluggish TDS growth: CBDT asks I-T dept to take urgent steps

CBDT Chairman Sushil Chandra has issued a stern directive to all the field offices of the Income Tax Department in this context and has sought an action taken report in less than a month's time.

Sep 14, 2017, 17:44 PM IST
Crackdown on shell companies: Tax dept, MCA to share PAN, audit reports

Crackdown on shell companies: Tax dept, MCA to share PAN, audit reports

The MCA is in the process of cancelling the registration of 2.09 lakh companies that have not been carrying out business activities for a long period.

Sep 14, 2017, 16:29 PM IST
GST will also impact direct tax collection: Arun Jaitley

GST will also impact direct tax collection: Arun Jaitley

The Finance Minister said that even before GST was rolled out, the impact of demonetisation has expanded the number of assessees under the personal income tax.

Aug 30, 2017, 18:20 PM IST

I-T dept warns against cash dealings above Rs 2 lakh

In a public message, the department said "accepting Rs 2 lakh or more in aggregate from a single person in a day for one or more transactions relating to one event or occasion is prohibited".

Aug 28, 2017, 23:52 PM IST
Know how to link PAN, Aadhaar online before August 31 deadline

Know how to link PAN, Aadhaar online before August 31 deadline

The requirement for Aadhaar being quoted for availing government subsidies, welfare schemes and other benefits will also continue unhindered for now.

Aug 27, 2017, 13:28 PM IST
Finance Ministry asks taxmen to submit note on high-pitched assessments

Finance Ministry asks taxmen to submit note on high-pitched assessments

Last year, the Central Board of Direct Taxes (CBDT) had set up 'local committees' comprising senior officers in each region to dispose such grievance and complaint petitions within a short period of time.

Aug 21, 2017, 15:44 PM IST
Worried about PAN Migration while shifting to new residence? Here is all you need to know

Worried about PAN Migration while shifting to new residence? Here is all you need to know

The 10-digit alphanumeric PAN number allotted to a person is used to link all of his/her financial transactions particularly tax payments, income tax return, wealth tax return.

Aug 19, 2017, 16:07 PM IST
No inconsistency in number of tax payers: CBDT

No inconsistency in number of tax payers: CBDT

The statement by the tax department follows some doubting the numbers over different figures quoted at different points of time.

Aug 18, 2017, 19:36 PM IST
PAN-Aadhaar linking: More than 9.3 crore out of 30 crore PAN cards linked with Aadhaar so far

PAN-Aadhaar linking: More than 9.3 crore out of 30 crore PAN cards linked with Aadhaar so far

While Aadhaar is issued by the Unique Identification Authority of India (UIDAI) to a resident of India, PAN is a 10-digit alphanumeric number alloted by the I-T department to a person, firm or entity.

Aug 13, 2017, 17:01 PM IST
Bollywood, builders & brokers: More 'shell-shocks' in store

Bollywood, builders & brokers: More 'shell-shocks' in store

While several small brokers are already in the list of 'suspected shell firms', their links to bigger brokerage groups are being probed by 

Aug 13, 2017, 14:37 PM IST
I-T dept detects Rs 13,715 crore undisclosed income last fiscal

I-T dept detects Rs 13,715 crore undisclosed income last fiscal

Last fiscal, the income tax department conducted searches at 5,102 premises of 1,152 groups during which undisclosed income of Rs 15,496 crore was admitted.

Aug 08, 2017, 18:44 PM IST
Online filing of IT returns up by 20 percent: Finance Ministry

Online filing of IT returns up by 20 percent: Finance Ministry

The deadline for filing IT returns was extended until August 5, in lieu of the difficulties faced by the taxpayers.

Aug 03, 2017, 16:51 PM IST
Income Tax Filing 2017: Here is why you should check Form 26AS

Income Tax Filing 2017: Here is why you should check Form 26AS

Form 26AS is essentially a tax credit statement which displays all taxes received by the I-T department. The form is accessible from the tax department's website.

Jul 22, 2017, 12:54 PM IST
Legal services provided by advocates covered under GST: CBEC

Legal services provided by advocates covered under GST: CBEC

Legal services, including representational services, provided by advocated are covered under reverse charge of GST, it said.

Jul 15, 2017, 20:09 PM IST
IT dept seizes 'benami' properties of Bihar deputy CM Tejashwi Yadav, Misa Bharti, her husband Shailesh Kumar

IT dept seizes 'benami' properties of Bihar deputy CM Tejashwi Yadav, Misa Bharti, her husband Shailesh Kumar

The department has been investigating a money laundering case against her. 

Jun 19, 2017, 21:11 PM IST