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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.

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.

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. 

I-T's just a click away; tax scrutiny reply set to get easier

I-T's just a click away; tax scrutiny reply set to get easier

Replying to income tax scrutiny notices with supporting documents will soon be just a click away.

Day of reckoning has come: FM Jaitley on raids on Chidambaram, Lalu

Day of reckoning has come: FM Jaitley on raids on Chidambaram, Lalu

Finance Minister Arun Jaitley on Tuesday defended searches at the homes of his predecessor P Chidambaram and his son as also RJD chief Lalu Prasad, saying the day of reckoning has come for many and they will be held accountable for their misdeeds.

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.

 

Hard cash being disclosed must exist on payment date: I-T dept

Hard cash being disclosed must exist on payment date: I-T dept

Weeks before the new tax amnesty scheme closes, the government has clarified that any hard cash being disclosed must exist at the time of making payments, but the same condition is not necessary for undisclosed income held in the form of deposits.

I-T dept app to track refunds; plans issuing PAN in real time

I-T dept app to track refunds; plans issuing PAN in real time

The I-T department has developed a mobile app for paying taxes and tracking refunds and is considering issuing PANs on real time basis using Aadhaar biometric.

I-T dept asks blackmoney holders to make honest declarations

I-T dept asks blackmoney holders to make honest declarations

The I-T department on Thursday nudged blackmoney holders to make "honest" disclosures under the tax amnesty scheme -- PMGKY -- warning that non-declaration could attract 77.25 percent tax and penalty along with prosecution.

Taxman to scrutinise loan deposits under op 'clean money'

The Income Tax department may initiate penal action and impose an equivalent penalty in select cases of loan amount deposits of Rs 20,000 or more as part of the 'Operation Clean Money' to check stash post demonetisation.

I-T to go easy on up to Rs 5 lakh deposits by 70-plus people

I-T to go easy on up to Rs 5 lakh deposits by 70-plus people

The income tax department will be going easy for cash deposits up to Rs 5 lakh made by 70-plus people. This means no further verification will be required in such case.

Operation Clean Money: No threat or show cause to taxpayers, CBDT tells taxman

Operation Clean Money: No threat or show cause to taxpayers, CBDT tells taxman

The CBDT on Tuesday asked the taxman to ensure there is no "threat, warning or show cause" notice to taxpayers contacted by it under 'Operation Clean Money' that is aimed at checking black money post-note ban.

 

I-T department books arms dealer Sanjay Bhandari under new anti-black money act

The Income Tax department has booked arms dealer Sanjay Bhandari under the new and stringent anti-black money Act and is mulling attaching his foreign and domestic assets as part of a tax evasion probe against him.

I-T dept to launch 2nd phase of bank accounts scrutiny next month

I-T dept to launch 2nd phase of bank accounts scrutiny next month

The I-T department is likely to launch the second phase of 'Operation Clean Money' next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below Rs 5 lakh for now.

I-T dept to scrutinise tax relief claims by sick companies

I-T dept to scrutinise tax relief claims by sick companies

The I-T Department has asked Assessing Officers to scrutinise tax relief being claimed by sick companies as part of the rehabilitation scheme approved by the BIFR.

CBDT signs 4 more advance pricing pacts with tax payers

CBDT signs 4 more advance pricing pacts with tax payers

The CBDT expects more APAs to be concluded and signed before the end of the current fiscal.

 

I-T dept clarifies on deposits, says no questions on deposits up to Rs 2.5 lakh

I-T dept clarifies on deposits, says no questions on deposits up to Rs 2.5 lakh

"There is no need to fear for any genuine person. We will ensure there is no harassment to genuine person," Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said at CII post-Budget seminar.

I-T department to impose fine on filing I-T return after due date

I-T department to impose fine on filing I-T return after due date. Watch the full segment for more details.