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Lower tax rates possible when all pays dues: Goyal

Lower tax rates possible when all pays dues: Goyal

The government can lower tax rates if people pay their dues sincerely, Union Power Minister Piyush Goyal said on Friday.

Former CBI chief A.P. Singh refutes corruption charges

Coming out defiantly against the allegation of being involved in a corruption case related to meat exporter Moin Qureshi, former Central Bureau of Investigation (CBI) chief A.P. Singh on Thursday said majority of chats between him and the former took place after his retirement.

Know how you can get PAN within minutes, pay taxes via mobile app

Know how you can get PAN within minutes, pay taxes via mobile app

People will soon be able to pay taxes and track their returns through a smartphone app and get a new PAN within minutes using Aadhaar verification.

Soon you will receive PAN in few minutes, pay income tax using smartphone

Soon you will receive PAN in few minutes, pay income tax using smartphone

In the latest addition to the list of measures taken by the government to make filing of taxes easy for the taxpayers, the Central Board of Direct Taxes (CBDT) is working on a plan to issue PAN in just few minutes using Aadhaar's e-KYC facility.

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.

'SMEs to pay 25% tax even if Rs 50-crore limit crossed in FY17'

'SMEs to pay 25% tax even if Rs 50-crore limit crossed in FY17'

The I-T department today said companies that had a turnover of less than Rs 50 crore in 2015-16 will pay tax at the reduced rate of 25 percent from April 1 even if they cross the threshold in 2016-17 or subsequent years.

Noida ponzi scam: Mastermind Anubhav Mittal's wife's house sealed by STF

Noida ponzi scam: Mastermind Anubhav Mittal's wife's house sealed by STF

The Uttar Pradesh Police's Special Task force on Monday sealed the house of the Noida ponzi scam mastermind's wife Ayushi Mittal's house in Kanpur.

Verify online deposits made post demonetisation, income tax department asks taxpayers

Verify online deposits made post demonetisation, income tax department asks taxpayers. Watch the full segment for more details.

Taxmen can dig in past 10 years of returns to unearth black money

Taxmen can dig in past 10 years of returns to unearth black money

In a significant move to check blackmoney, Income Tax Department can now scrutinise income tax returns of previous 10 years if any search leads them to undisclosed deposits or property of over Rs 50 lakh.

All I-T returns must be filed by March end; penalty to be imposed after last date

All I-T returns must be filed by March end; penalty to be imposed after last date

With a view to expedite tax assessments, the revenue department proposes to make it mandatory for tax payers to file I-T returns as well as revised returns by March end of the assessment year (AY).

18 lakh taxpayers to get Income Tax notices to explain large deposits

18 lakh taxpayers to get Income Tax notices to explain large deposits. Watch the full segment for more details.

Operation 'Clean Money': Crackdown begins; 18 lakh people to get IT notice if deposits don't match income

Operation 'Clean Money': Crackdown begins; 18 lakh people to get IT notice if deposits don't match income

The Income Tax department has identified 18 lakh people who have made 'suspicious' cash deposits post demonetisation, including those having deposited over Rs 5 lakh, and will send emails and SMSes seeking explanation about their source of funds.

Income tax crackdown begins: 87 notices issued, 42 assets worth crores attached under Benami Act

87 notices issued, 42 assets worth crores attached under Benami Act. Watch the full segment for more details.

I-T begins action under Benami Act; issues 87 notices; attaches 42 assets worth crores

I-T begins action under Benami Act; issues 87 notices; attaches 42 assets worth crores

Initiating a stringent action against black money holders post notes ban, the Income Tax department Monday said it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under the newly enforced Benami Transactions Act which attracts a heavy penalty and rigorous jail term of a maximum 7 years.

Post-demonetisation, IT unearths one of the largest black money scam

Post-demonetisation, IT unearths one of the largest black money scam

The demonetisation move by the government appears to achieving its true purpose with the Income Tax department unearthing one of the largest black money scam post the note ban.

Budget 2017: Arun Jaitley may cut taxes to spur growth; likely to raise income tax exemption slabs

Budget 2017: Arun Jaitley may cut taxes to spur growth; likely to raise income tax exemption slabs

As Finance Minister Arun Jaitley presents the Union Budget 2017 next week, he will be faced with the challenge of lowering tax in order to spur growth following the slump in demand after the demonetisation move.

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.

GAAR to be effective from April 1, 2017: CBDT

GAAR to be effective from April 1, 2017: CBDT

Addressing investors' concerns ahead of GAAR implementation from April 1, the tax department today said it will not interplay with their right to choose a method of transaction and won't apply if routing of funds through a jurisdiction is "based on non-tax commercial considerations".

1 taxpayer owes 11% of India's individual income tax in 2014-15

1 taxpayer owes 11% of India's individual income tax in 2014-15

An unnamed taxpayer owed the government Rs 21,870 crore (over $3 billion) for the assessment year 2014-15, which was 11 percent of they income tax to be paid by all Indians, according to 2016 data, the latest available, from the Income Tax Department.