Page 4 - I-t Department

I-T dept to crack the whip on tax evaders, resume probe in pending cases

The move will help the department shore up revenue, clear backlogs, and resume probe in pending matters.

Taxpayers asked to verify ITRs for AYs 2015-16 to 2019-20 by September 30

A taxpayer filing Income Tax Returns (ITR) electronically without digital signature has to verify it using either Aadhaar one-time password (OTP)

Banks, post offices can now find out TDS on large cash withdrawals

The department has facilitated a new functionality for banks and post offices through which they can ascertain the TDS applicability rates

Direct tax mop-up rises 39% amid sharp decline in disbursement of refunds

Collections may come under pressure once the base effect wears off

I-T tribunal stays tax demand against Tata Education and Development Trust

The Rs 100-crore tax demand on Tata Education and Development Trust was raised last year by the I-T department owing to cancellation of registration on past exempted income.

I-T department issues refunds worth Rs 26,000 cr to around 1.7 mn taxpayers

Expediting refunds of up to Rs 5 lakh was announced as part of the government's policy initiative to tackle the economic impact of Covid.

Covid-19 crisis: CBDT chargesheets 3 IRS officers for leaked report

The IRS Association has forwarded its report to the CBDT.

GST, GAAR reporting delayed till March 2021 amid coronavirus outbreak

The I-T Dept had, in 2018, changed the tax audit form 3CD, seeking details under GST as well as GAAR, which seeks to prevent firms from routing transactions through other countries to avoid taxes

Fine only for frivolous complaints

The State Commission pointed out that costs could be imposed only if the complaint was frivolous and vexatious. But DeSouza did have a genuine grievance

I-T department approaches 5,627 entities to avail Vivad se Vishwas scheme

Of this, a total 1,730 assessees, involving a tax demand of Rs 1, 578 crore, have agreed to come under the scheme

I-T unearths Rs 3,500-cr TDS default by oil, telecom firm in Delhi: CBDT

CBDT, which frames policy for the tax department, did not name the entities involved

'Vivad se Vishwas': Cases in arbitration abroad eligible, says I-T dept

The income tax department said appeals and writs filed on or before January 31 this year will be allowed to be taken up under the scheme

A new kind of harassment: Government notice seeking information

These notices are not included in the ease of doing business calculations

I-T Dept launches searches at premises of Bharat Hotels, Cargo Motors Group

The searches, they said, were launched late Sunday and are related to a tax evasion probe being conducted by the department.

Note ban ghost comes to haunt jewellers as I-T dept passes recovery orders

Jewellers who have received such orders will have to cough up at least 20 per cent of the demand before they can file an appeal

Mukesh Ambani family case: I-T department seeks details from seven nations

According to the I-T department, the Ambani family refuted all the charges in the show-cause notice and submitted the copy of GDR offer documents on June 7 for RUPL along with other documents

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

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

Tax dispute limits doubled for appeals in high courts, Supreme Court

The limits for filing appeals in the Income Tax Appellate Tribunal (ITAT) have been more than doubled

I-T dept again defers GST, GAAR reporting in tax audit till March 2020

Business entities having a turnover of more than Rs 1 crore and professionals with gross receipts of more than Rs 50 lakh have to comply with audit needs