Government notifies new and simplified ITR forms

The Income Tax department has notified the new set of ITR forms, including a three-page simplified one, for taxpayers to file their returns for assessment year 2015-16.

Ex-minister Vasant Sathe's son, daughter-in-law appears in court in IT case
Ex-minister Vasant Sathe's son, daughter-in-law appears in court in IT case

Former union minister Vasant Sathe's son and daughter-in-law were today granted bail by a Delhi court after they appeared before it as accused for allegedly not disclosing details of their joint Swiss bank account to the Income Tax Department.

ED widens probe against foreign funds in Lalit Modi firm

 The Enforcement Directorate (ED) has widened its probe into a foreign exchange violation case against former IPL boss Lalit Modi and others which involves alleged illegal routing of Rs 21 crore funds from a Mauritius- based company.

Now EPIC or Aadhaar document enough to get PAN card

An EPIC or Aadhaar document will now be enough for any individual to obtain PAN card as the Income Tax Department has relaxed the cumbersome procedure of having multiple documents to prove one's own identity.

16 lakh refunds worth crores lying unclaimed at I-T CPC

 A whopping 16 lakh refunds worth crores of rupees are lying unclaimed at the Income Tax department's central database centre for e-filing for want of "correct data from taxpayers".