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.
Monday August 11, 2014
With an estimated Rs 4 lakh crore of tax revenue locked up in litigation, the Central Board of Direct Taxes (CBDT) has created over 240 new posts of Commissioners (Appeals) to speed up legal disposal system in the Income Tax Department.
Thursday July 31, 2014
After asking taxpayers to validate their personal email ids and mobile phone numbers for online filing of Income Tax returns, the I-T department has now urged them to include its official email address in the 'safe list' of their inboxes
Wednesday July 30, 2014
For those who have not yet filed their returns yet, they may be tempted to download mobile applications and finish the job on their handheld devices.
Tuesday July 29, 2014
Income of alternative investment funds (AIFs) will be taxed at the maximum rate of 30 per cent, the revenue department has said.
Wednesday July 23, 2014
In a step towards taxpayer-friendly regime, Finance Minister Arun Jaitley on Wednesday asked revenue department officials to adopt non-intrusive methods of investigation and impressed upon the need for skill development.
Tuesday July 22, 2014
As government makes effort to bring illicit money stashed abroad, Finance Minister Arun Jaitley on Monday asked the Income Tax Department to focus its effort on unearthing 'quite large' black money within the country as well.
Sunday July 20, 2014
The top brass of Income Tax Department and Central Board of Direct Taxes (CBDT) will strategise steps for revenue collection post-Budget announcements during a two-day conference beginning in Delhi on Monday.
Friday July 18, 2014
"The pendency of grievances ranging from a few days to up to 11 years shows that there are various flaws in the system and in the administrative mechanism which needs immediate attention," the report tabled in Parliament today said.
Wednesday July 16, 2014
According to official data, the I-T department detected undisclosed income worth Rs 10,791.63 crore in search operations during the just concluded 2013-14 fiscal while it also found unreported income of Rs 90,390.71 crore in survey operations conduct...
India | Press Trust of India | Monday July 14, 2014
The Income Tax department today cautioned the public against responding to emails originating from private addresses.
Tuesday July 15, 2014
"Information has been received from several quarters that emails are being received by taxpayers claiming to be sent by the Income Tax Department asking the taxpayers to download file containing payable tax details."
Monday July 7, 2014
The 70 Aaykar Sampark Kendras (ASKs) or computerised I-T centres will be in addition to the 189 such centres which provide single-window service to taxpayers.
India | Press Trust of India | Friday July 4, 2014
Taxpayers filing their I-T (Income Tax) returns this year will now have to share their email-id and mobile phone number with the tax department.
Thursday July 3, 2014
The demand is for the last three years.
Wednesday July 2, 2014
The Central Board of Direct Taxes (CBDT), the administrative authority of the tax department, has decided to open these offices in various cities in order to help taxpayers get their grievances solved and obtain a number of services like applying for...
Wednesday June 25, 2014
Cracking its whip, the Central Board of Direct Taxes (CBDT) has asked the Income Tax Department to ensure prompt action in timely redressal of taxpayers' grievances pending for a long time.
Tuesday June 24, 2014
In a multi-billion dollar deal that could have bearing on India's fight against black money, global giant HSBC on Tuesday sold its Swiss private banking assets worth $12.5 billion to Liechtenstein's LGT Bank.