Page 5 - Central Board Of Direct Taxes

Direct tax collections may exceed budget targets, CBDT chief says

Gupta added that if the trend continues, direct tax collections for FY23 could exceed the budget target of Rs 14.20 trillion

Explained: What is PNR data, why will Indian airlines have to share it?

This information will be used by the Customs department for surveillance and risk assessment of international passengers

DOLO-650 makers distributed freebies worth Rs 1,000 cr to doctors: FMRAI

The petitioner, while seeking statutory backing to the Uniform Code of Pharmaceutical Marketing Practices (UCPMP), said that corruption in pharma marketing practices is yet unregulated in India

Can PMLA really be the go-to legislation to probe financial crimes?

Several older legislations like the Black Money Act and the Benami Transactions Act have become subservient to the Prevention of Money Laundering Act now

GST e-invoicing must for entities with Rs 10 cr turnover from Oct 1

Presently, the process is mandatory for businesses with an annual turnover of Rs 20 cr and above

No more freebies! Influencers, music bands, doctors liable to 10% TDS

Ensure value of goods doesn't exceed Rs 20,000 to avoid TDS

Transactions to paper trail: CBDT clears the air on TDS levy on cryptos

From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year

ITR filing for AY 2022-23 now available on e-filing portal, says I-T Dept

'Check your Form 26AS, AIS and other relevant documents before submission. Be an early filer,' says I-T Dept

CBDT issues fresh guidance on cross-border disputes for taxpayers

NRI taxpayers cannot seek MAP if they opt for Vivad se Vishwas

I-T portal faces fresh glitches; CBDT chief assures no breach of data

This comes after the Income-Tax (I-T) Department got complaints about search functionality on the portal and also that it had been hacked and might pose risks to security

Centre likely to lift veil on taxing NFT as virtual digital asset

Likely to release framework ahead of first advance tax instalment

CBDT lays out guidelines for manual scrutiny of income tax returns

Income-Tax department selects cases manually for comprehensive scrutiny

No new show cause notices to small taxpayers: CBDT tells officials

The CBDT said that for three years, viz. assessment years (AY) 2013-14, 2014-15 and 2015-16, reassessment notices will not be issued for small taxpayers whose asset is less than Rs 50 lakh.

PAN mandatory for cash deposit or withdrawal of Rs 20 lakh or more

PAN will also be required for opening of current and cash credit account

CBDT to taxmen: Complete 30% faceless assessments by end-June

Faceless assessment units identify issues, seek information, and analyse material to conduct assessment

I-T raids Infra.Market; detects undisclosed income of Rs 224 crore

The searches were launched on March 9 at the firm's 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh

CBIC cautions against sharing Aadhaar, PAN details without valid reasons

"Protect your personal data which may be used for creating fake entities in GST for evasion of taxes," the CBIC tweeted

I-T dept raids online cricket betting group; finds Rs 600-cr cash turnover

The group was operating in a clandestine manner and had concealed its operations and income from law enforcement agencies, the Central Board of Direct Taxes (CBDT) said in a statement

I-T refunds worth Rs 1.83 trn issued to 20.7 mn taxpayers so far in FY22

This includes personal income tax refunds of Rs 65,498 crore to over 2.04 crore assessees and corporate tax refunds of Rs 1.17 lakh crore to 2.30 lakh entities

Anti-dumping rejections due to public interest: CBIC chairman Vivek Johri

Differences over data interpretation for anti-dumping duty and safeguard duty another key factor, says CBIC chairman