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I-T Act News

05 Dec 2018

Panel to redraft I-T Act to focus on removing ambiguities

The task force was set up by the finance ministry in November last. Arbind Modi was made the convenor of the panel and he retired on September 30.

24 Jun 2018

I-T department writes to Walmart, Flipkart on tax liability

Walmart runs 21 Best Price wholesale stores in India that sell everything from fast-moving consumer goods to furniture to other retailers and institutions.

18 Nov 2016

Beware! Misuse of bank a/c for black money can invite prosecution

Government on Friday cautioned Jan Dhan account holders, housewives and artisans that they will be prosecuted under the I-T Act for allowing misuse of their bank accounts through deposit of black money in Rs 500/1,000 notes during the 50-day window till December 30.

24 Feb 2015

Taken every possible step to deal with black money: Govt

As part of ongoing efforts to deal with black money, the government on Tuesday said it has taken every possible measure to effectively deal with the issue.

10 Nov 2014

CBDT issues directions for avoidance of baseless assessment

CBDT has issued a set of instructions for avoidance of baseless assessment and disposal of grievances within a stipulated time period.

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