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Budget 2014: Key Highlights

Last Updated: Monday, February 17, 2014, 18:41

Presenting the Interim Budget 2014 in Parliament, Finance Minister P Chidambaram on Monday slashed excise duty on cars and two-wheelers, capital goods and a variety of consumer items like TV and refrigerators to boost demand and manufacturing.

Tata trusts given irregular tax exemptions: CAG

Last Updated: Friday, December 13, 2013, 18:05

Moreover, the CAG added, in some cases "they did not fully utilised ... Proceeds for acquiring capital assets. The ITD allowed exemption irregularly in these assessments completed after scrutiny".

Coercion not a means to unearth unaccounted money: Tax official

Last Updated: Friday, October 18, 2013, 15:39

The income tax department has never looked at coercion as a way to unearth accounted money and the idea is not to create nightmares, a senior tax official said on Friday.

So you haven't got your income tax refund yet?

Last Updated: Tuesday, September 17, 2013, 11:04

Here are some ways to expedite the process and avoid waiting too much further for it.

CA student hacks industrialist Anil Ambani's I-T account

Last Updated: Friday, September 13, 2013, 16:06

A young chartered accountant student from Hyderabad has allegedly hacked into the e-filing of income tax returns account of leading industrialist Anil Ambani, with an intention to know his income and tax amount paid over a period of time, police said today.

Income Tax Department slaps Rs 1,631 crore tax notice on NMDC

Last Updated: Tuesday, September 10, 2013, 16:22

The mining company has paid Rs 1,134.27 crore to the tax authorities so far and contested the claim in respective appellates, sources said.

E-filing of income tax returns to surge on new norms

Last Updated: Sunday, July 14, 2013, 10:48

"A large number of people come under Rs.5 lakh to Rs.10 lakh category. The lowering of income limit for mandatory e-filing will give a boost to online filing of returns," Vineet Agarwal, a director at KPMG India, said.

Tax officials dig out old cases to meet target; speed up probe

Last Updated: Sunday, March 17, 2013, 13:56

As the current fiscal draws to a close, tax evasion is being tackled head on to meet indirect tax collection target for 2012-13.

I-T Dept to quiz PAN holders not filing returns

Last Updated: Monday, February 11, 2013, 20:04

There are over 12 lakh PAN (Permanent Account Number) holders who had not filed income tax returns, the Department said, adding it has set up a nodal cell to monitor such cases.

I-T refunds decline 23.33% in April-September

Last Updated: Sunday, October 21, 2012, 15:45

In case of refund bank facility, refund directly goes to account of concern assessee.

Govt asks tax officials to go slow on refunds

Last Updated: Tuesday, June 26, 2012, 18:37

To check the widening fiscal deficit the government has asked tax authorities to go slow on refunds.

Rich must be prepared to be taxed more: Chidambaram

Last Updated: Wednesday, September 28, 2011, 13:22

Home Minister P Chidambaram, who as Finance Minister had slashed taxes, today suggested that rich should be taxed more even though "many people" would not like the idea.