Page 23 - Cbdt

Oriental India Group admits Rs 3,000-cr black money after I-T raids: CBDT

Last week, searches and surveys were conducted at over 25 premises of the group that has interests in infrastructure, mining and real estate

DTC report should be entirely implemented: CBDT member Akhilesh Ranjan

These are recommendations looking at the country's needs, immediate requirements, concerns, and the plans of the government, says Ranjan

Tax benefits for traders as CBDT approves NSE's commodity derivatives

Exchange gets 'Recognised Association' status, due to which participants can set off losses in commodity derivatives against business gains

NSE commodities segment gets CBDT recognition, traders to get tax benefit

The approval will benefit traders in relation to trading in commodity derivatives segment of the NSE as the derivative income will be treated as business income

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