Page 22 - Cbdt

In fifth such crackdown, govt retires 21 more 'corrupt' tax officers

CBDT compulsorily retired 21 Group B officers of the rank of Income Tax Officer under Fundamental Rule 56 (J) in the public interest due to corruption and other charges and CBI traps

I-T detects Rs 735-cr financial fraud in raids on BMC contractors

The operation "also led to the detection of the use of bogus companies (floated by entry providers) for giving entries to businesses in the form of loans or bills for expenses, among others".

At Rs 6 trn, CBDT's direct-tax mop-up so far less than 50% of FY20 target

The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer

I-T dept detects Rs 350-cr undisclosed income in raid on Chennai institute

"Cash of about Rs 5 crore and jewellery of more than about Rs 3 crore were seized in the said action.

NIIF Infrastructure Finance set for a tax dispute with I-T department

The company is seeking an exemption since 2015, while the I-T department has notified the fund only from April 1 this year

Rs 5k cr dues declared under Sabka Vishwas Scheme, likely to gain traction

Senior CBIC officials are confident the scheme is likely to gain further momentum in the coming days as taxpayers would not forego this opportunity.

I-T dept unearths Rs 3,300-crore hawala racket involving infra firms

The Board, the policy-making body for the I-T department, however, did not identify the entities raided

I-T Department conducts searches on business group; 28 premises covered

A total of 28 premises were covered in search action, including 15 under Section 132 and 13 under Section 133A

Tax evasion: I-T makes highest cash seizure of Rs 9.55 cr in Pune

The policy-making body of the department said the action was undertaken on November 4. It did not identify the entity.

Only 1.5 million entities declared short-term capital gains in FY18

This is less than a fifth of total number of investors and an even smaller fraction of total demat accounts in existence

Why tax officials are upset about govt's faceless assessment plan

In their letter dated October 3, tax officials have expressed strong displeasure over unilateral decision-making, saying it is not in the interest of the efficient working of the I-T department

Income-tax officials give thumbs down to govt's faceless assessment move

Dubbed an important initiative in tax reforms, the government launched the faceless assessment scheme in a bid to eliminate the interface between the assessee and the tax officer

CBDT extends deadline on final assessment of post-demonetisation cases

This is the second extension given by the Board in this case after the first deadline of June 30 was extended up to September, the official said

Doesn't make sense to let go MAT credits: Vedanta's Pallavi Joshi Bakhru

Pallavi Joshi Bakhru, group head taxation, Vedanta Limited, the metals-cum-mining conglomerate, explains why some large corporate groups may not avail of the lower tax rates anytime soon

Taxpayer without e-filing a/c, PAN to not be eligible for I-T e-assessment

The CBDT, which frames policy for the Income Tax Department, issued a circular on Thursday stating exceptions to the new system

Centre for I-T e-assessment to be based in Delhi; CBDT issues order

The Centre will have 16 officials and will be headed by a Principal Chief Commissioner of Income-tax as its chief

Govt reworking strategy to enhance direct tax mop-up: CBDT member

CBDT member Akhilesh Ranjan, who headed a panel on the new direct tax law, said corporation tax rate in India is somewhat higher - compared to international standards - and must be reduced

Can I-T share overseas black money info with ED? With permission, says CBDT

The field authorities, it added, therefore, required to take all steps to ensure that the information received under tax treaties is not disclosed inappropriately

E-assessment of taxpayers: Video conferencing in, personal interviews out

Faceless assessment scheme, however, provides video conferencing facility to those seeking changes in draft assessment order

Evasion of tax up to Rs 25 lakh won't be prosecuted in court: CBDT

The directive is being seen as a major move to cut down tax litigation and will save a number of assessees from legal proceedings