Page 29 - Income Tax Department

I-T Dept finds gold, forex worth over Rs 500 cr from self-styled godman

The so-called spiritual leader's group is said to have used unaccounted cash to acquire properties in excess of their documented values

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

Why tax officials are upset about govt's faceless assessment plan

In their letter dated October 3, tax officials have expressed strong displeasure over unilateral decision-making, saying it is not in the interest of the efficient working of the I-T department

CBDT extends deadline on final assessment of post-demonetisation cases

This is the second extension given by the Board in this case after the first deadline of June 30 was extended up to September, the official said

Top events today: SC to hear Aarey forest matter, NeAC launch, and more

Finance Minister Nirmala Sitharaman will inaugurate the income tax department's national e-assessment centre

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

Election Commissioner Lavasa's wife under I-T dept scanner for tax evasion

Ashok Lavasa was appointed election commissioner on January 23, 2018, after he retired as the Union Finance Secretary in the previous year

Centre for I-T e-assessment to be based in Delhi; CBDT issues order

The Centre will have 16 officials and will be headed by a Principal Chief Commissioner of Income-tax as its chief

I-T dept to issue PAN if taxpayers use Aadhaar for filing returns: CBDT

PAN will be generated automatically if a taxpayer uses Aadhaar for filing returns: CBDT

Oberoi Realty, Capacite Infra stocks fall on Income Tax search buzz

The stock has fallen 5.84 per cent since Tuesday

No tax notices sent to Durga Puja committees in Kolkata this year: CBDT

CBDT added that ITD had been getting information that several contractors who were doing work for the Puja committees were not paying due taxes

I-T dept detects undisclosed income of Rs 700 crore in Tamil Nadu

The search was based on intelligence gathered over several months that the business group was indulging in large-scale tax evasion

I-T dept carries out searches on 'certain businessmen' in Meghalaya

These persons were depriving the state government of legitimate revenue by suppressing sales and non-deposit of local taxes collected

Tax administration to be both strict and liberal

It is quite often that officers of the department are either too strict or too liberal irrespective of whether taxpayers are evaders or complainant

Reader's corner: How to check status of refund from income tax department

You will not be able to claim a credit of such TDS until the tenant completes the formalities

I-T to use data mining, risk profiling to increase tax mop-up: Revenue Secy

In the 2019-20 Budget, the government has set a direct tax collection target of Rs 13.35 trillion, which includes Rs 7.66 trillion being collected as corporate taxes and Rs 5.69 trillion as income tax

Misconception to think I-T Dept snoops on social media posts: CBDT chief

The tax department has named this new system as 'Project Insight', as it provides a 360-degree profiling and insight into an entities' complete transactions trail

How regulators, agencies are hurting India's war on $190-billion bad loans

Here are some instances of government agencies' tussles with the process

I-T dept eyes NRIs' residential status, reopens tax assessments of 5 years

The department has pulled up people who evaded tax and were sent notices a month ahead of Budget 2019

CBDT asks I-T dept to add 13 mn new filers in FY19 to widen the tax base

A new filer is defined as a person who is not included in the base at the beginning of the year