Learn about the ways to file income tax return

Learn about the ways to file income tax return

Return of income can be filed either in hard copy at the local office of the Income-tax Department or can be electronically filed at www.incometaxindiaefiling.gov.in 

Income Tax Return for AY 2016-17: All you need to know!

Income Tax Return for AY 2016-17: All you need to know!

It is mandatory for individuals and companies to file income tax return at the end of a financial year on the income earned in the entire year. Different forms for return of income are prescribed for filing of IT returns for different status and nature of income.

India not to use 'tax haven' in black money info dossiers

India not to use 'tax haven' in black money info dossiers

Indian investigating agencies have been asked to shun the usage of the word "tax haven" while making legal overseas requests in black money cases as a number of foreign jurisdictions have taken exception to the term and called it offensive.

 

Cairn faces Rs 10,247-crore fine on top of Rs 29,000 crore tax demand

Cairn faces Rs 10,247-crore fine on top of Rs 29,000 crore tax demand

In a circular to shareholders, the company said it had on February 4 received "a final assessment order from the Indian Income Tax Department in amount of Rs 10,247 crore plus interest back dated to 2007 totalling Rs 18,800 crore.

Rs 8,500-cr Vodafone TP case: I-T Dept to challenge Bombay HC verdict

Rs 8,500-cr Vodafone TP case: I-T Dept to challenge Bombay HC verdict

The Income-Tax Department Wednesday said it will move the Supreme Court challenging the Bombay HC order in the Rs 8,500-crore Vodafone transfer pricing case.

IT dept launches e-appeal filing system

IT dept launches e-appeal filing system

In yet another step aimed at reducing human interface between taxman and the taxpayer, the Income Tax department today operationalised a facility for e-filing of the first appeal before a tax officer

IT dept launches tax calculator; e-filing of few ITRs begins

IT dept launches tax calculator; e-filing of few ITRs begins

 E-filing of income tax returns for the assessment year 2016-17 was launched today for a select category of entities and individuals even as the IT department provided an online calculator for filers to do an easy check and obtain their annual tax liability.

7 ways by which you can get Income Tax refund at the earliest

7 ways by which you can get Income Tax refund at the earliest

Here are the 7 ways using which you can get income tax returns at the earliest

IT dept notifies new ITRs; taxman eyes those earning over Rs 50 lakh

IT dept notifies new ITRs; taxman eyes those earning over Rs 50 lakh

Filing for the new forms begins with the onset of the new financial year today.

CBDT resolves Rs 5,000-cr tax dispute with foreign cos under MAP

The tax department has resolved disputes involving Rs 5,000 crore with foreign companies in sectors like software and consultancy under the MAP scheme in past two years, a development that could provide comfort to overseas investors over taxation issues.

Vodafone cries foul as India slaps tax reminder

Global telecom giant Vodafone has taken exception to the Indian tax department threatening to seize its assets if it fails to pay a disputed demand of over Rs 14,000 crore, which is still under international arbitration.
 

I-T dept identifies up to 5,000 MNCs late on tax payments

I-T dept identifies up to 5,000 MNCs late on tax payments

Income Tax Department has identified 4,000-5,000 foreign companies based in this megapolis that are not paying taxes on time, including due to tax disputes, and expects to soon recover from them dues totalling nearly Rs 8,000 crore.

Over 11 lakh file tax returns under special drive by IT department

Over 11 lakh file tax returns under special drive by IT department

Over 11 lakh taxpayers have filed their IT returns for Assessment Year 2014-15 after the department tracked them under a special drive to identify those who have not filed their returns despite having an obligation to do so, according to official data.

I-T emphasis on creating awareness on TDS

I-T emphasis on creating awareness on TDS

Income Tax department is emphasising on creating greater awareness on tax deducted at source (TDS) compliance.

I-T department to issue over 64,000 refunds to small taxpayers by month-end

I-T department to issue over 64,000 refunds to small taxpayers by month-end

As per an official data, the Central Board of Direct Taxes (CBDT) has asked the taxman to issue refunds in a total of 64,938 pending cases involving Rs 1,148.14 crore, by January 31.

Black money: I-T dept begins action against mining firms

Black money: I-T dept begins action against mining firms

The Income Tax department has begun a crackdown against black money being generated by the rich mining sector with the taxman initiating a detailed scrutiny of a number of such exploration and production companies across the country.

Govt to unveil new IT tool to check PAN transactions history

The government is planning to track tax and black money through income tax business application. To track the tax, it has been decided that PAN card details will be taken into consideration and new PAN cards will be allotted within 48 hours.

Income tax department employees to hold strike today

Income tax department employees to hold strike today

The associations said if their demands for timely promotion in cadres and providing required infrastructure is not met, the work of budget collection and taxpayer services are "bound to fail" in the coming days.

People with Rs 4 lakh income, mofussil residents on IT radar: CBDT

People with Rs 4 lakh income, mofussil residents on IT radar: CBDT

Those earning Rs 4 lakh per annum, besides people in tier-II and tier-III cities with taxable income but not paying taxes are on the radar of the Income Tax department which has launched an ambitious drive to net one crore new assesses this financial year.

I-T dept employee bodies announce strike; begin slow down

Two major associations of Income Tax department employees Wednesday declared they have slowed down the work of revenue collection and threatened to stop all work on this front if their service-related demands are not met by early next month.