Page 2 - I-t Dept

I-T dept scans 30,000 individuals for remitting money abroad via RBI scheme

Most of the assessees in question are either traders or professionals; there are also those who sent money abroad for donation purposes

I-T dept may sell two dozen properties in FY20 over huge maintenance costs

These are located in prime locations in Delhi, Mumbai, Chennai, Bengaluru

400,000 taxpayers to face scrutiny under new e-assessment system

Notices were being served to a little over 100,000 assesses, seeking explanation on the returns filed within 15 days

I-T dept seizes Rs 10-bn assets in FY18; tax-to-GDP ratio improves: Govt

The central indirect tax-GDP ratio was at 5.43% in financial year 2017-18

Soon, filing income tax returns may get easier with pre-filled forms

Apart from this, the tax department is trying to ease the process for the assessee

Income tax dept may seek first right on recovery of dues under IBC

At present, the recovery of tax dues is possible only after payment to financial creditors under IBC

Letter to BS: I-T dept warns salaried class against filing wrong returns

The focus on scrutiny of inflated deductions in connivance with tax advisors should not only be restricted to the salaried class

I-T dept to launch assessment proceedings against defaulters from January

Those who attempted to show their black income as white and evaded tax would be prosecuted

Central govt award for I-T dept for 96% grievance redressal

Over 20,000 complaints were addressed last year

I-T officials unearth Rs 10 crore unaccounted money from lockers of Bank of Maharashtra in Pune

These were found both in new and old legal currencies of Rs 2,000 and Rs 100

I-T dept mulls action against Mahesh Shah for misleading source of Rs 13,860 cr

According to I-T dept sources, Shah gave names of people to whom the money belonged but could not be verified

I-T dept to use tech aid to beat manpower blues

Tax officials claimed the use of unconventional means would be the strategy to overcome conventional challenges

I-T dept asks IDS declarants to pay tax by Nov 30

Under the scheme, as many as 64,275 declarants disclosed an amount of Rs 65,250 crore