Page 28 - Income Tax Department

Confident of meeting Rs 11.7-trn direct tax collection target in FY20: CBDT

Income tax collection target for next fiscal is pegged at Rs 6.38 trillion and corporate tax collection at Rs 6.81 trillion

Filing ITR for AY 2020-21? Here're the changes you need to know

The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit

Faceless tax scrutiny: I-T dept completes 60,000 cases, Phase-II in works

Dept plans to include more complicated cases in second phase of scheme

Big taxpayers yet to take benefits of Sabka Vishwas amnesty scheme

These taxpayers have declared tax dues of around Rs 79,968 crore and after availing the various reliefs and amnesty as per the rules of the scheme, they would pay around Rs 35,094 crore, sources said

Income Tax dept examines foreign contribution sought by Tata trust

The requisition was made after the Navajbai Ratan Tata Trust had given up Trust status in February 2015

Fully cooperated and provided all documents: Dishman on I-T search

Firm says probe was unanticipated as no prior tax demand notice was received, doesn't foresee adverse outcome; reinstates guidance of 8-10% revenue growth

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

Link your PAN with Aadhaar before Dec 31; it's mandatory, says I-T dept

Section 139 AA (2) of the Income Tax Act says that every person having PAN as on July 1, 2017, and is eligible to obtain Aadhaar, must intimate his Aadhaar number to tax authorities.

I-T dept issues tax refunds of Rs 1.57 trillion, up by 27.2% in 2019

In money terms, the income tax refunds have gone up by 27.2 per cent.

I-T dept searches 39 locations to check tax evasion by BSE brokers, traders

Over 39 locations spread across Mumbai, Kolkata, Kanpur, Delhi, Noida, Gurugram, Hyderabad and Ghaziabad were covered under the operation, the department said in a statement on Saturday

I-T crackdown: Brokers, investors come under scanner for fraudulent trades

Conducts searches at over 150 places linked to brokers, investors for alleged tax evasion

I-T dept serves notice to Congress for 'hawala funds' worth Rs 170 cr

The IT department seeks Congress' explanation for receiving the funds from a company as part of its tax evasion probe.

Voda-Idea presses for Rs 7,000-cr tax refund; I-T hesitant in view of AGR

The company has got favourable rulings from High Courts and appellate tribunals in some and is now pressing the department to quickly refund the dues

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".

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

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

Rs 12,000-cr tax blow: I-T dept cancels registration of 6 Tata Trusts

The Trusts further clarified that this order of cancellation is a culmination of the decision taken by these six Trusts in 2015 to surrender, of their own volition, their registration under the Income

Govt not considering any proposal for gold amnesty scheme: Report

The clarification comes amidst media report indicating the government move to launch amnesty scheme that will allow individuals and entities to declare their unaccounted gold holding

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

Former anti-corruption body and tax dept boss, K V Chowdary joins RIL board

In a regulatory filing, Reliance said its Board of Directors in a meeting on Friday appointed Chowdary as an Additional Director - Non Executive