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IT Department

5000 companies under scanner of IT Department

5000 companies under scanner of IT Department

Mon, Jan 27, 2020

Income tax officials have reportedly identified approximately 5,000 mid-and small-sized firms for alleged violations of income tax rules, including disparities between their goods and services tax (GST) returns and tax declarations for 2018-19.

I-Tax Department to not send notices directly to tax payers

I-Tax Department to not send notices directly to tax payers

Fri, Sep 13, 2019

Soon, the Income Tax Department will not send notices directly to tax payers but an e-assessment centre has been formed to do so.

I-T department to share details of assets, accounts of loan defaulters with banks

I-T department to share details of assets, accounts of loan defaulters with banks

Wed, Jun 26, 2019

Income tax authorities will share details of assets of borrowers and their guarantors with public sector banks in case of loan defaults.

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Desh Ki Baat: 12 senior I-T Officers ordered compulsory retirement by Finance Ministry

Desh Ki Baat: 12 senior I-T Officers ordered compulsory retirement by Finance Ministry

Tue, Jun 11, 2019

The axe has fallen on about 12 senior officers of the rank of chief commissioners, principal commissioners, commissioners of income tax department under rule FR (fundamental rule) 56 (j) of central civil services (pension) rules.

Sensex closes 165 points higher, Nifty at 11,965; Zee Entertainment, ONGC, YES Bank top performers

Sensex closes 165 points higher, Nifty at 11,965; Zee Entertainment, ONGC, YES Bank top performers

Tue, Jun 11, 2019

The government has dismissed from service twelve senior income tax officers, including joint commissioner Ashok Agarwal, on charges of corruption and professional misconduct, sources said.

Centre compulsorily retires 12 senior IT officers for corruption, misconduct

Centre compulsorily retires 12 senior IT officers for corruption, misconduct

Tue, Jun 11, 2019

The government has dismissed from service twelve senior income tax officers, including joint commissioner Ashok Agarwal, on charges of corruption and professional misconduct, sources said.

Zee Business Exclusive: Tax evasion on radar of IT department

Zee Business Exclusive: Tax evasion on radar of IT department

Tue, May 07, 2019

Tax evasion on Radar of IT department. Watch this video to know more.

Indian Government will track you on social media to Tax you down

Indian Government will track you on social media to Tax you down

Sun, Mar 31, 2019

Social Media may soon come under the eyes of the Income Tax Department of India, to grab tax thieves and defaulters in the country. The IT department has initiated 'Project Insight' to bring tax thieves and people, who pose rich on social media, under surveillance.

Income Tax returns filing: IT department wants Kannada film industry to pay taxes, file returns - Here is why they took such step

Income Tax returns filing: IT department wants Kannada film industry to pay taxes, file returns - Here is why they took such step

Tue, Jan 08, 2019

The I-T office issued search warrants under section 132 of the Income-Tax Act 1961 on those who were searched a day or two ahead of conducting the raids.

PAN card alert: Applying for Permanent Account number? You may not have to do this anymore

PAN card alert: Applying for Permanent Account number? You may not have to do this anymore

Sat, Sep 01, 2018

At present, providing father's name in the PAN application Forms (Form No.49A and Form No.49AA) is mandatory, however, the applicant has been given an option to select the name of either father or mother, which the applicant may like to be printed on PAN card.

Seeking income tax exemption for FY19? click here to know

Seeking income tax exemption for FY19? click here to know

Mon, Feb 19, 2018

A tax-payer who has taken benefit under Section 80TTB cannot take tax benefit under Section 80TTA, because benefits under Section 80TTB and Section 80TTA are exclusive.

Flipkart may pay higher taxes after posting discounts as capital expenditure

Flipkart may pay higher taxes after posting discounts as capital expenditure

Mon, Jan 22, 2018

The IT department is yet to specify the amount of tax liability.

India sends tax notices to cryptocurrency investors as trading hits $3.5 billion

India sends tax notices to cryptocurrency investors as trading hits $3.5 billion

Fri, Jan 19, 2018

India has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period, the income tax department said.

IT dept increases security under Prohibition of Benami Property Transactions Act

IT dept increases security under Prohibition of Benami Property Transactions Act

Thu, Jan 11, 2018

Central Board of Direct Taxes (CBDT) on Thursday announced that the Income Tax Department has stepped up actions under the Prohibition of Benami Property Transactions Act (the ‘Benami Act’).

Raids on over 180 premises: Dhinakaran cries 'conspiracy'

Raids on over 180 premises: Dhinakaran cries 'conspiracy'

Fri, Nov 10, 2017

Income Tax sleuths today carried out simultaneous multi-city raids on 187 premises including those linked to sidelined AIADMK leaders V K Sasikala and her nephew T T V Dhinakaran and Tamil television channel Jaya TV over suspected tax evasion.

Now chat online with IT-department experts to clear your doubt in tax filing

Now chat online with IT-department experts to clear your doubt in tax filing

Wed, Oct 18, 2017

A taxpayer can get their doubt answered by entering on official website of IT-department. There is an icon at the right side of website.

I-T Department unearths income of Rs 5,400 crore post-note ban

I-T Department unearths income of Rs 5,400 crore post-note ban

Sat, Jul 22, 2017

"During the period from November 9, 2016 to January 10, 2017, more than 1,100 searches and surveys were conducted by the I-T Department apart from issuing more than 5,100 verification notices in the cases of suspicious high value cash deposits or related activities," Minister of State for Finance Arjun Ram Meghwal told the Lok Sabha.

Aadhaar is now must for PAN; Here's how you can file ITR -4 Sugam

Aadhaar is now must for PAN; Here's how you can file ITR -4 Sugam

Sat, Jul 08, 2017

Government has notified to quote their Aadhaar for applying PAN. We tell you how to file your income tax returns if you have to file using ITR-4.

Cairn tax dispute: I-T dept confiscates dividend, refund

Cairn tax dispute: I-T dept confiscates dividend, refund

Mon, Jun 19, 2017

The Income Tax Department has ordered coercive action against Cairn Energy of UK, including taking away over Rs 2,000 crore dividend and tax refund, to recover part of the Rs 10,247 crore retrospective tax.

Be prepared taxpayers; first installment of advance tax due tomorrow

Be prepared taxpayers; first installment of advance tax due tomorrow

Wed, Jun 14, 2017

Advance Tax Payment has been given as an option by IT department to make payment of taxes in installment. Four dates are been provided and if a taxpayer does not make payment by end of March 2018, he or she will have to make 100% advance tax.

Replying to income tax scrutiny notices will be soon just a click away

Replying to income tax scrutiny notices will be soon just a click away

Sun, Jun 11, 2017

Replying to income tax scrutiny notices with supporting documents will soon be just a click away.

100% penalty if Rs 2 lakh or more transacted in cash, warns IT Department

100% penalty if Rs 2 lakh or more transacted in cash, warns IT Department

Fri, Jun 02, 2017

Income Tax Department, in an advertisement, has warned people for not transacting in cash for Rs 2 lakh or more.

Increase in take away salary expected; IT department to tighten the grasp over tax defaulters

Increase in take away salary expected; IT department to tighten the grasp over tax defaulters

Sat, May 27, 2017

This segment of News Tonight Superfast brings to you the top news updates from all spheres of the country. Watch to know about the difficulty which tax defaulters are going to face, bankers' meet with finance minister and for other recent happenings.

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