Page 56 - Income Tax

Data crunching: Are we a nation of tax avoiders?

Exemptions ensure India's tax-GDP ratio stays low

Pay income tax, apply for PAN using mobile apps on your smartphone

This move will help bring more people under the tax net by making it easier for people to get PAN

Online I-T grievance redressal facility e-nivaran launched at 60 offices

The facility will soon be launched at 100 more such special tax offices, called Aaykar Sampark Kendras

I-T Dept to scrutinise tax relief claims by sick companies

Tax relief under SICA will not automatically apply as SICA has been repealed with effect from December 1, 2016

Income tax refunds up 42% at Rs 1.42 lakh crore

As many as 4.01 crore ITRs were e-filed till February 10, 2017, an increase of 20 per cent over the previous year.

Taxman not to ask questions on deposits up to Rs 2.5 lakh: CBDT

Only those accounts will be probed that do not match the tax returns

Personal I-T base must be up before corporate tax cut: Hasmukh Adhia

1% cut in corporate income tax rate will cost Rs 18,000-19,000 crore in revenues, Adhia said

Taxmen can reopen up to 10-yr old cases in big transactions

Currently, I-T officers can go back up to 6 years to scrutinise the books of accounts of assesses

I-T data analysed: 1 taxpayer owes 11% of India's individual income tax

There were 64 taxpayers with a tax liability of over Rs 500 crore in 2014-15

Brace for a call from I-T if you deposited over Rs 10 lakh after 8 Nov

The taxmen want to find out the source of the money

Digital trail: I-T may soon track electronic transactions like RTGS, NEFT

FinMin's pilot project is aimed at tracking benami transactions

Black money chase: Don't panic if you receive a tax notice

Prepare your replies with expert help and keep relevant documents ready to support your replies

CBI nabs income tax officer taking Rs 1 lakh bribe in new notes

ITO Vinay Kumar, posted at the Jhalawar branch of the IT department, had demanded the bribe in new currency notes from the complainant

Economists favour cut in income tax rate; harmonise custom rate

Experts also suggested that there is a need to invest in the tourism sector

2.4 mn declared income above Rs 10 lakh but 2.5 mn cars bought annually

The tax returns when compared with car sales throw astonishing numbers

Post demonetisation, IT Dept has seized over Rs 93 crore in new notes

Post demonetisation, the Income Tax Department has made over 760 searches and seizures amounting to Rs. 505 crores, out of which more than 93 crore was new currency.According to IT sources, more than Rs. 3590 crores of undisclosed income has been detected and 3589 notices have been issued.During the searches, the IT Department referred around 400 cases to Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) for further investigation.Also, the IT Department had made 215 references to the ED and 185 references to CBI.Meanwhile, a raid is being carried out at the residence of businessman Rup Chand Prasad in Naya Bazar in Siliguri, West Bengal.The Enforcement Directorate has also been carrying out searches and enquiry at various places in the wake of de-monetisation.

Don't share your user ID & password, may be misused: I-T dept warns users

'If a password is hacked or stolen, it can result in information security breach', warns I-T dept

I-T search at TN Chief Secy's house ends after 24 hours, new notes seized

Rao is also the additional charge of Vigilance Commissioner and the Commissioner for Administrative Reforms.

Just 1% Indians pay Income Tax: NITI Aayog's Amitabh Kant

Kant said there are more than a billion mobile phone subscribers in India

CBDT asks Income Tax to ensure better collection of revenue arrears

CBDT has sought collection of all due recoveries from all regions that will boost tax collection