Friday December 19, 2014
According to the EPFO's income projection, payment of 8.8 per cent rate of interest would have left a surplus of Rs 77.15 crore. But since the income projection of Rs 29,136.42 crore for the current fiscal was done without factoring in interest payme...
Wednesday December 17, 2014
Looking to sell its plant near here, Nokia on Tuesday sought lifting of an asset freeze imposed by the Income Tax Department in the wake of a tax dispute, saying it is being approached by several prospective buyers.
India | Press Trust of India | Friday December 12, 2014
In its first major disclosure about money held in Swiss banks, the government today said Rs 4,479 crore is held in the accounts owned by Indians, who figured on the HSBC List, and the Income Tax Department has initiated action against 79 of such acco...
Thursday December 11, 2014
The government on Wednesday approved the revised project cost and extension of contract for the Centralized Processing Centre of the Income Tax Department at Bengaluru to Infosys by two years up to September 2017.
Sunday December 7, 2014
To keep a tab on funds flowing through charitable trusts, the government plans to make it mandatory for such entities to provide their Permanent Account Number (PAN) prior to registration.
South | Press Trust of India | Monday December 1, 2014
AIADMK supremo J Jayalalithaa and her aide Sasikala Natarajan pay compounding fee and settle with Income Tax Department to get relief from 18-year-old case.
Wednesday November 26, 2014
Industry body Ficci has welcomed Attorney General Mukul Rohatgi asking the Income Tax Department to not file an appeal against the Bombay High Court judgment in the transfer pricing case of Vodafone.
Monday November 24, 2014
Sources said the department made one of its highest seizures which also includes jewellery worth Rs 1 crore.
Saturday November 22, 2014
Sources said the searches were launched by the taxmen at at least three locations of the group, one in Delhi and two in the national capital region, as part of its "tax related demands" against the business group.
South | Press Trust of India | Friday November 14, 2014
An illegal money transfer racket was busted by police today with the detention of four persons, including two senior officials of a Chhattisgarh-based engineering firm, and Rs 2 crore was seized from them.
Sunday November 2, 2014
As part of its efforts to boost revenue collection, the Central Board of Direct Taxes (CBDT) has asked the Income Tax Department to monitor cases of over five lakh taxpayers who have not filed their latest tax returns.
Wednesday October 29, 2014
The Reserve Bank of India (RBI) has allowed all urban cooperative banks (UCBs) to act as PAN service agents.
Indo-Asian News Service | Monday October 13, 2014
The new email system is for "secure communication within the department and will ensure that no confidential information or data is stolen".
Sunday October 12, 2014
The department, official sources said, has recently discontinued its existing email systems (called Lotus mail and IMail) and has issued instructions to its countrywide staff to get new email IDs prepared after "validation" of their bona fides.
Wednesday October 1, 2014
The last date for deposit of Tax Deducted at Source (TDS) has been extended by three days to October 10 due to festivals.
Monday September 22, 2014
A revamped online portal of the Income Tax Department was launched on Monday which will enable taxpayers to file returns or apply for a PAN card through a 'single window' format.
Sunday September 21, 2014
Taxpayers will now be able to perform their income tax-related tasks like filing returns or applying for a PAN card from an enhanced single website to be launched by Finance Minister Arun Jaitley on Monday.
Thursday September 4, 2014
As per the norms released by the Central Board of Direct Taxes (CBDT), all cases where income exceeds Rs 10 lakh over the previous year will continue to be selected, as well as cases relating to survey, search and seizure and reassessment.
Friday August 22, 2014
The Income Tax Department has served a demand notice of Rs 6,234 crore to BSNL for allegedly under-reporting income in assessment year 2011-12.
Friday August 22, 2014
Undisclosed income to the tune of Rs 90,000 crore was detected during 2013-14 in various searches and surveys conducted by the Income Tax Department, a top official from the Central Board of Direct Taxes (CBDT) said in Hyderabad on Friday.