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Income-Tax Department News

09 Apr 2019

Deshhit: Ahmed Patel under scanner after picture of him sitting with AICC officer being raided by I-T emerges

In a development which can have far-reaching political implications, senior Congress leader Ahmed Patel has landed into a controversy after a picture of him with an AICC worker, whose residence was being raided by the Income-Tax department

18 Dec 2017

Black money: I-T dept unearths undisclosed income of Rs 7,961 crore

In a written reply to the Lok Sabha, Minister of State for Finance Pon Radhakrishnan said the department, during this period, conducted searches on around 900 groups, wherein assets worth over Rs 900 crore were seized and undisclosed income of Rs 7,961 crore was admitted.

29 Apr 2016

Notices issued to all those named in Panama Papers: FM Jaitley

Government on Friday said in the Lok Sabha that it has issued notices to all the people named in the Panama Papers but tax laws do not allow the proceedings to be made public till cases are filed in courts.

Income-Tax Department

04 Apr 2016

Tax Dept issues refunds of over Rs 1.17 lakh crore

Income-tax Department issued tax refunds of over Rs 1.17 lakh crore in the last financial year ended March 31, of which Rs 37,870 crore was done in an automated manner.

Tax communication

05 Feb 2016

Tax deptt issues guidelines for e-communication to assessees

To ease communication with the Income-Tax department, the government has allowed tax payers to reply to notices using their registered email address.

22 Jan 2016

Tax payers can now e-verify ITRs using bank, demat a/c details

Currently an Income-Tax Return or ITR can be e-verified by using internet banking, email or an Aadhaar number-generated One Time Password (OTP).

Tax return forms

28 May 2015

Court pulls up I-T Dept for withholding info on foreign accounts

A Delhi court on Thursday pulled up the Income Tax (IT) Department for withholding information on foreign bank accounts of those persons against whom it has filed complaints and slapped a fine of Rs 10,000 on it.

Tax return forms

12 May 2015

Foreign travel details in ITR at suggestion of SIT: Jaitley

Foreign travel details sought in the new income tax return (ITR) forms was done so that risk profiling for detection of tax evasions could be done but the form is being modified in view of the opposition to it.

Tax return forms

24 Apr 2015

Biz leaders meet FM Jaitley; want tax return forms simplified

The industry representatives said after the meeting that Jaitley assured them to look into simplifying the ITR and at making the forms smaller and the process of filing returns quicker.

21 Nov 2014

Unsustainable tax demand would only earn bad name: FM

Jaitley's comments come in the wake of Mumbai High Court order earlier this week wherein Income-Tax Department lost its Rs 18,000-crore transfer pricing cases against oil major Shell India.

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