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'Countdown' has begun, I-T dept warns blackmoney holders ahead of March 31 deadline

'Countdown' has begun, I-T dept warns blackmoney holders ahead of March 31 deadline

The Income Tax department today warned black money holders that it has "information" about their illegal deposits and they should avail the soon-to-end PMGKY window to come clean.

I-T dept makes public list of defaulters owing Rs 448 crore

I-T dept makes public list of defaulters owing Rs 448 crore

The Income Tax department on Sunday released a list of 29 entities owing Rs 448.02 crore in taxes as part of its strategy to name and shame large defaulters.

CBI court grants conditional bail to J Shekar Reddy, his associates

A special CBI court on Friday granted conditional bail to businessman J Shekar Reddy and his two associates, arrested after discovery of over Rs 170 crore by I-T Department post demonetisation last year.

206 delisted political parties not traceable: Government

The government today said out of 255 deregistered political parties, as many as 206 are either non-existent or non-traceable.

Black money: I-T prosecution action triples this fiscal

Prosecution action by the Income Tax department in black money cases has shot up three times with the taxman filing over 570 such charge sheets across the country till January this year.

 

I-T dept lifts freeze on Cairn dividend payout, stake bar stays

The tax department has agreed to lift the freeze on British oil explorer Cairn Energy being paid dividend by its erstwhile subsidiary Cairn India, but it still cannot sell the residual stake pending a tax dispute.

Monitor tax collection to meet target by Mar 31: CBDT to taxman

The CBDT has directed the Income Tax department to "scrupulously" monitor tax collection, which it said is slightly less than the target even as the current financial year is nearing an end.

Benami assets: I-T dept books 230 cases, attaches Rs 55 cr assets

Benami assets: I-T dept books 230 cases, attaches Rs 55 cr assets

The Income Tax department has registered over 230 cases and attached assets worth Rs 55 crore nationwide as part of its post demonetisation action under the newly enforced Benami Transactions Act.

TDS default: I-T dept issues over 850 prosecution notices

The Income Tax department has issued over 850 prosecution notices to firms in the private and government domain in Karnataka and Goa on charges of delay in remitting TDS funds to the exchequer.

Note ban impact: Over 7 lakh assessees respond to I-T dept query; 'non-statutory' letters to be issued in case of no reply

Note ban impact: Over 7 lakh assessees respond to I-T dept query; 'non-statutory' letters to be issued in case of no reply

The I-T Department on Friday said that more than 7 lakh assessees, out of 18 lakh who were sent SMS/emails for making suspicious deposits post demonetisation, have submitted their response.

 

Demonetisation impact: Nine lakh accounts under Operation Clean Money 'doubtful'

Demonetisation impact: Nine lakh accounts under Operation Clean Money 'doubtful'

Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.

 

Online I-T grievance redressal facility launched at 60 offices

Online I-T grievance redressal facility launched at 60 offices

After launching the ambitious e-nivaran facility for online redressal of taxpayers' grievances, the Income Tax Department has now opened these windows at its 60 special offices across the country.

Operation Clean Money: Over 5.27 lakh taxpayers respond to I-T dept query on cash deposits

Operation Clean Money: Over 5.27 lakh taxpayers respond to I-T dept query on cash deposits

Out of the 7.41 lakh accounts confirmed by the 5.27 Lakh taxpayers, the cash deposit amount has been confirmed in more than 99.5 percent accounts.

I-T dept issues 1.62 crore refunds worth Rs 1.42 lakh crore

I-T dept issues 1.62 crore refunds worth Rs 1.42 lakh crore

The income tax department has issued refunds to the tune of Rs 1.42 lakh crore so far this fiscal till February 10, 41.5 percent higher than last year's.

CBDT to taxman: Step up TDS survey ops to boost collections

With the current financial year inching towards closure, CBDT has directed the taxman to step up survey operations to check non-deduction of TDS by firms and employers, especially in cases where such payments have dropped by more than 15 percent as compared to last time.

CBDT issues certificates of appreciation to nearly 3.74 lakh tax payers

The total number of certificates issued by CBDT now stands at approximately 23 lakh.

Tax officers to maintain digital records of summons, notices

Reducing discretionary powers of taxmen, the income tax department has asked its field officers to maintain digital records of summons, notices and special audit ordered by them.

HSBC, ICIJ list: I-T dept detects Rs 16,200 crore black money

HSBC, ICIJ list: I-T dept detects Rs 16,200 crore black money

Over Rs 16,200 crore in black money has been detected by the government after investigations on global leaks about Indians stashing funds abroad, Parliament was informed Tuesday.

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.

 

Allowed others' black money deposits in your account? I-T dept to attach property under new benami law

Allowed others' black money deposits in your account? I-T dept to attach property under new benami law

If you allowed others to use your bank account to park others' black money to escape the brunt of demonetisation, you may be in for trouble.