Page 59 - Income Tax

Parthasarathi Shome: I-T Department statistics - I

The department has revived publication of useful statistics

Income Tax dept says media wrong to report that it is arresting wilful tax defaulters

It was reported yesterday that IT department will block PAN, cancel LPG subsidy and ensure loans are not sanctioned to the wilful tax defaulters

Income tax arrears: Blocking of PAN, new bank loans likely

I-T department talks of arresting errant defaulters, retracts later

Do not lose tax benefits

The tax department can withdraw exemptions claimed earlier if certain conditions aren't met

Are you a wilful tax defaulter? IT dept may block your PAN, LPG subsidy

A number of measures have been mooted by the tax department to curb the menace of large-scale tax avoidance and evasion

PM set no target on income tax assessees: Finance ministry

Clarifies that the Prime Minister has asked the Income Tax Department to widen tax base, but no specific target has been set

Double taxpayer base to 100 mn, PM tells taxmen

Officers asked to build 'bridge of confidence' with taxpayers

Four month window to disclose black money opens today

Domestic black money holders can come clean by paying tax and penalty of 45% on undisclosed assets

IT dept has decided to declare the name of tax defaulters

Earlier exercise was restricted to people with huge defaults upto Rs 20-30 cr but the new measure will bring it to Rs 1 Cr

I-T dept asks taxman to place info request to tax havens

The note guides taxman to avoid seeking voluminous details as it might not receive adequate attention by the BVI authorities

CBDT declares Aug 31 deadline for clearing pending ITRs, refunds

It has said that this the final opportunity being provided to the taxpayers to regularise their pending ITRs

I-T refunds worth Rs 1.22 lakh crore issued in FY'16: Govt

In 2015-16, more than 94% of income tax returns were filed online

Income tax department launches tax calculator; e-filing begins this week

The calculator works once a filer correctly feeds his basic details and information, as notified for the current assessment year by the government

I-T department had 5.17 crore assessees in FY'15: Govt

The number of assessees rose from 4.72 crore in 2012-13

Filing tax returns on time has benefits

You can carry forward losses and revise the returns umpteen times in case of mistakes

Have you been served an I-T notice?

Notice can be served between 6 months and 6 years. For concealment of income, it can be longer

New ITR forms aim to curb domestic black money

Require people with over Rs 50 lakh income and owning aircraft, jewellery to disclose them with I-T dept

I-T dept issues refunds of over Rs 1.17 lakh crore

Taxpayers also reposed faith in CBDT's e-governance initiatives by electronically filing a whopping 4.34 crore ITRs in FY 2015-16

I-T dept launches e-appeal filing system

In another step aimed at reducing human interface between tax officials and payers, the Income Tax department on Sunday operationalised a facility for e-filing of first appeal.The department said the facility of filing the appeal form, like filing Income Tax Returns (ITRs), can be done using a digital signature from now on, while the Electronic Verification facility for the same using the Aadhaar, mobile number and email id will be activated soon on the official web portal of the tax department - http://income taxindiaefiling .gov.in/.The existing document used for this, called 'Form No 35', was re-formatted recently so that it can be electronically uploaded on the portal.In the new e-form, a person seeking to appeal against an Assessing Officer's order has been given an avenue to append 'Statement of Facts' in 1,000 words and furnish grounds of appeal in another 100 words. Documentary evidence can also be appended.The department has four stages of appeal mechanism for the assessees to

Those earning Rs 50 lakh a year must declare assets

Govt issues a new set of ITR forms for assessment year 2016-17