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India tax News

31 Jul 2019

Google, Facebook, Twitter and other digital cos likely to come under tax net

These digital companies purportedly pay very less tax to the Indian government despite earning high revenues and profits by offering online advertising to Indian customers.

25 Jun 2019

Number of e-filing of ITR increase 18.65% in AY 2018-19

The number of e-Returns submitted for Assessment Year 2018-19 is 6,49,39,586 as against 5,47,30,304 e-Returns filed for the Assessment Year 2017-18.

24 Jun 2019

I-T dept issued Rs 64,700-cr refund between Apr 1-Jun 18, 2019: Sitharaman

In a written reply to a question in the Lok Sabha, she said over 6.49 crore electronic returns were submitted for assessment year 2018-19 (financial year 2017-18), up 18.65 per cent from over 5.47 crore in assessment year 2017-18.

Direct tax mop up

08 Jan 2019

Direct tax mop up rises 14.1% to Rs 8.74 lakh cr in Apr-Dec 2018

As much as Rs 3.64 lakh crore has been collected as advance tax, which is 14.5 percent higher than the advance tax collections during the same period last year.

17 Oct 2016

CBDT tells officers to submit data of appeals disposed of every month

To fast-track disposal of tax cases, CBDT has started reviewing performance of its officers and asked commissioners to submit data on number of appeals they have disposed of every month against the given target.

15 Mar 2016

I-T Dept slaps Rs 29,000 crore tax demand notice on Cairn Energy

It is the second firm to have received retrospective tax notice this year after Vodafone Group.

02 Mar 2016

Govt has taken 'one step forward' on retro tax issue: Jaitley

The government has taken "one step forward" to resolve the retrospective tax cases by putting in place a statutory mechanism for ending such disputes, Finance Minister Arun Jaitley said on Wednesday.

Income Tax department

18 Jan 2016

IT Dept processes 3.27 cr returns during April-December

Income Tax Department has processed 3.27 crore returns and has issued refunds in 1.81 crore cases.

03 Dec 2015

India in talks with Mauritius on tax treaty issues

Reserve Bank Governor

19 Oct 2015

Let's make taxation more transparent, investor-friendly: Rajan

Raghuram Rajan on Monday underlined the need to make taxation more transparent so that the Indian economy is able to attract stable inflow of foreign capital for strong growth.

17 Sep 2015

India plans to address some pending tax disputes within days: Jaitley

India plans to address some pending tax disputes in the next few days, Finance Minister Arun Jaitley said on Thursday, but did not give details or say whether the cases in question included disputes with foreign companies that have spooked investors.

11 Jul 2015

Indirect tax collections pace up, grow 37.5% in April-June

IIP data showed that the growth in factory output in the first two months of the fiscal was 3 percent as against 4.6 percent in April-May of 2014-15.

09 Jul 2015

I-T Dept eyes Rs 2.56 lakh crore tax mop up from Mumbai in FY16

The Income Tax department is looking at collecting tax worth Rs 2,56,000 crore from the Mumbai zone during this fiscal, which is 13 percent more than the amount mopped up last year.

07 Jul 2015

Shah panel holds meeting with Tax Dept

The high-level Justice A P Shah panel, set up to look into the levy of MAT on FIIs today held consultations with officials of the tax department.

Finance Ministry

01 Jul 2015

FinMin asks taxpayers to e-file I-T returns early

The Finance Ministry today asked taxpayers to file their I-T returns for 2015-16 early to avoid the rush towards the last date of August 31.

India taxpayers

24 Jun 2015

No taxman can terrorise assesses of scrutiny: CBDT chief

Seeking to allay concerns of taxpayers, CBDT has asked them not to get terrorised by threats of their cases being wilfully chosen for "scrutiny" by the taxman as the procedure is fully electronic and devoid of any human intervention.

23 Jun 2015

Govt proposes tax benefits for card payments

The government also proposed to make it mandatory to settle high value transactions of more than Rs 1 lakh through electronic mode.

19 Jun 2015

Compliance window under black money law soon: Jaitley

Finance Minister Arun Jaitley on Friday said the government will soon come out with the compliance window under the black money law for persons having illegal money stashed abroad to pay tax and penalty and come clean.

direct tax collection

25 May 2015

Direct Tax target of Rs 7.98 lakh cr for FY'16 achievable: Das

The Direct Tax collection target of Rs 7.98 lakh crore for the current financial year is likely to be met on account of improvement in economic growth, government said on Monday.

12 May 2015

Indirect tax collections up 46.2% in April

Led by over two-fold surge in excise duty collections, indirect tax revenue jumped 46.2 percent to Rs 47,747 crore in April this year compared to the same month last year.

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