Page 19 - Income Tax Department

I-T dept offices to open on all Saturdays in March after FM's rap

Currently, Saturdays and Sundays are off days for I-T department employees

Income tax refunds of over Rs 1.83 trn issued so far this fiscal: I-T Dept

"CBDT issues refunds of over Rs 1,83,579 crore to more than 2.09 crore taxpayers from 1st Apr, 2021 to 28th Feb, 2022," the I-T department tweeted

I-T recovers Rs 2 Cr from Shiv Sena leader's residence in Mumbai

The Income Tax (I-T) Department has seized around Rs 2 crore from the premises of family and associates of Shiv Sena corporator and Standing Committee chairperson of BMC, Yashwant Jadhav during raids.

Income Tax Department cautions public against fraudulent job offers

Cautioning public against falling prey to fraudulent job offers, the I-T Department said aspirants should only consider offers or advertisements on official websites of SSC or the department.

High court quashes Rs 684 cr tax demand notice against co, says CG Power

CG Power and Industrial Solutions on Monday said that the Bombay High Court has quashed an assessment order of Rs 684.08 crore against the company issued by the I-T department.

I-T dept raids former NSE MD Chitra Ramkrishna in tax evasion probe

Ramkrishna hit the headlines after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges

Top headlines: IDBI Bank privatisation on track; I-T searches on Huawei

Here are the top headlines on Wednesday

I-T Dept issues over Rs 1.67-trn refunds to 18.7 mn taxpayers till Feb 7

The Income Tax Department has issued refunds of more than Rs 1.67 lakh crore to 1.87 crore taxpayers so far this fiscal

File a rectification request in case you have received a low refund

While recalculating your tax liability, ensure you include income from all sources

61.7 mn ITRs, 1.9 mn audit reports filed on new I-T portal: CBDT

Of 61.7 million ITRs filed for the assessment year 2021-22, 48 per cent of these are ITR-1, nine per cent is ITR-2, 13 per cent is ITR-3, 27 per cent are ITR-4

Income Tax refunds of Rs 1.62 trillion issued so far this fiscal

The Central Board of Direct Taxes has issued Rs 1.62 lakh crore income tax refunds to over 1.79 crore taxpayers till January 24, 2022 of the current financial year, official data showed on Thursday.

Taxation of ULIP proceeds to create level-playing field with MFs: I-T dept

Proceeds of high-premium Unit Linked Insurance Plans (ULIPs) has been made taxable to create a "level-playing field" with mutual funds, official sources said

Despite teething issues, e-filing process largely smooth: CBDT spokesperson

'The faceless assessment scheme in India draws upon the best practices of the UK HRMC and Australian ATO'

Over Rs 1.54 trillion income tax refunds issued this fiscal so far

The income tax department on Thursday said it has issued refunds of over Rs 1.54 lakh crore to more than 1.59 crore taxpayers so far this fiscal.

Infosys working very closely with I-T Dept on tax portal: Salil Parekh

Infosys CEO Salil Parekh on Wednesday said the company is working closely with the Income Tax Department on the next set of areas related to the I-T portal as new modules will be added to it.

I-T refunds of Rs 1.50 trn issued till January 3 this fiscal year

This includes 1.1 crore refunds of Assessment Year 2021-22 amounting to Rs 21,323.55 crore

IT department raids at Samajwadi Party MLC Pampi Jain's residence in UP

Income Tax officials on Friday morning conducted searches at the Samajwadi Party (SP) MLC Pampi Jain's residence in Uttar Pradesh, claimed SP.

I-T dept relaxes time till Feb'2022 to complete verification of FY'20 ITRs

Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return (ITR), filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, pre-validated bank account and ATM within 120 days of filing the return. Alternatively, taxpayers can send a physical copy of the ITR filed to the Centralised Processing Centre (CPC) office in Bengaluru. If the verification process, which is done through ITR-V form, is not complete, then it is considered that the return has not been filed. The Central Board of Direct Taxes (CBDT) in a circular dated December 28, said a large number of electronically filed ITRs for the Assessment Year 2020-21, still remain pending with the Income Tax department for want of receipt of a valid ITR-V Form at CPC,

I-T dept finds black income of Rs 300 cr after raids on 2 Rajasthan groups

The raids were carried out on December 22 and about 50 premises of the two unidentified groups located in Jaipur, Mumbai and Haridwar were covered

I-T dept raid at Tamil Nadu finance firm reveals Rs 12 cr unaccounted cash

The Income Tax department in searches conducted over a span of one week at the premises of a Tamil Nadu-based Chit and Finance company revealed unaccounted cash of Rs 12 crore