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Tag "income tax"

ITR forms being revised for benefits of timeline extension

ITR forms being revised for benefits of timeline extension

🕔19:12, 19.Apr 2020

New Delhi, April 19 The Finance Ministry on Sunday said that the Central Board of Direct Taxes (CBDT) is revising the income tax return (ITR) forms for FY 2019-20 (Assessment Year 2020-21) which will be notified by the end of this

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Income tax rates, slabs changed; those earning up to Rs 15 lakh benefit

Income tax rates, slabs changed; those earning up to Rs 15 lakh benefit

🕔14:12, 1.Feb 2020

New Delhi, Feb 1 In a major relief to middle class, Finance Minister Nirmala Sitharaman has proposed to cut income tax rates and change slabs to lower tax incidence for those earning upto Rs 15 lakh a year. The Minister

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Budget booster likely for capital gains on property & equity

Budget booster likely for capital gains on property & equity

🕔15:50, 27.Jan 2020

New Delhi, Jan 27 (IANS) In what is being billed as a make or break Budget to revive the economy, the Modi government is likely to introduce heavy duty measures for rationalization of key equity taxes, including scrapping capital gains on

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Govt to decriminalise Income Tax Act, PMLA

Govt to decriminalise Income Tax Act, PMLA

🕔06:52, 21.Jan 2020

New Delhi/Chennai, Jan 21  The NDA government is moving to decriminalise the Income Tax Act and the Prevention of Money Laundering Act (PMLA) as part of steps towards restoring business confidence. These are among the steps being taken to catapult

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Deadline for linking PAN with Aadhaar extended to March 31

Deadline for linking PAN with Aadhaar extended to March 31

🕔07:08, 31.Dec 2019

New Delhi, Dec 31  The Income Tax (I-T) department has extended the deadline for linking PAN with Aadhaar by three months to March 31, 2020. As per earlier notification, the cut-off date was December 31, 2019 after it was extended

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Income tax, input tax credit refunds up: Revenue Secy

Income tax, input tax credit refunds up: Revenue Secy

🕔07:11, 14.Dec 2019

New Delhi, Dec 14) The Income Tax Department is now conducting complete faceless assessment and the refunds so far in this fiscal stood at Rs 1.57 lakh crore as compared to Rs 1.23 lakh crore in the previous fiscal, Revenue Secretary

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I-T department to adopt ‘taxpayer friendly’ approach

I-T department to adopt ‘taxpayer friendly’ approach

🕔10:28, 19.Aug 2019

New Delhi, Aug 19  The Income Tax (I-T) Department has decided to adopt a more friendly approach in its dealings with the tax assessees, sources said on Sunday, following Finance Minister Nirmala Sitharaman’s call for a mindset change among tax

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I-T department to use Big Data Analytics from April

I-T department to use Big Data Analytics from April

🕔18:16, 29.Mar 2019

New Delhi, March 29  Tax evasion is likely to get more difficult if not impossible with the entry of Big Data Analytics into the Income Tax (I-T) Department’s realm of tools to check tax evasion starting April 1. The Rs

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IT raids at over 30 places in Jammu, Srinagar

IT raids at over 30 places in Jammu, Srinagar

🕔20:05, 14.Mar 2019

Jammu, March 14  Income tax (IT) Department teams carried out simultaneous raids at over 30 places in Jammu and Srinagar on Thursday, based on IT surveys carried out earlier in the state, an official said. Over 30 establishments including hotels,

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Income Tax sleuths seize cash, gold in poll-bound Karnataka

Income Tax sleuths seize cash, gold in poll-bound Karnataka

🕔19:38, 21.Apr 2018

Bengaluru, April 21  Income-Tax (I-T) sleuths seized Rs 4.13 crore in cash and 4.52 kg gold jewellery valued at Rs 1.32 crore during raids conducted over the last three weeks in poll-bound Karnataka, an official said on Saturday. “Of the

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IT raids 33 places in Tamil Nadu

IT raids 33 places in Tamil Nadu

🕔10:55, 28.Nov 2017

Chennai, Nov 28  Income Tax (IT) officials on Tuesday raided 33 premises in Tamil Nadu here and Madurai belonging to three business groups. It is a follow-up to its earlier searches linked to jailed AIADMK leader V.K. Sasikala’s kin and

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April-August income tax revenue up 17.5% at Rs 2.24 lakh cr

April-August income tax revenue up 17.5% at Rs 2.24 lakh cr

🕔22:25, 11.Sep 2017

New Delhi, Sep 11 (IANS) The Indian Income Tax Department’s collections in the first five months of the current fiscal at Rs 2.24 lakh crore grew 17.5 per cent over the same period last year, an official said on Monday. A

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‘No proposal to replace income tax with transaction tax’

‘No proposal to replace income tax with transaction tax’

🕔09:52, 18.Mar 2017

New Delhi, March 18  There is no proposal to replace income tax with the banking cash transaction tax, Parliament was informed on Friday.“In the present there is no such proposal under consideration,” Minister of State for Finance Santosh Kumar Gangwar

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I-T sleuths raid Sahara offices in Delhi, Noida

I-T sleuths raid Sahara offices in Delhi, Noida

🕔09:22, 25.Nov 2014

New Delhi, Nov 25  The income-tax (I-T) department carried out search and seizures on the premises of the Sahara group in the national capital region over the weekend on charges of tax evasion, officials said Monday Sources told that Sahara

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A valid Email ID and Mobile Number to be Registered/Updated on the E-Filing Website of the Income Tax Department

A valid Email ID and Mobile Number to be Registered/Updated on the E-Filing Website of the Income Tax Department

🕔11:08, 5.Jul 2014

New Delhi, July 05 : A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. For details, taxpayers can log on

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