Central Board Of Direct Taxes Cbdt
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Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
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Centre Proposes Changes To Tax On Angel Investors In Unlisted Entities
The Income Tax Department on Friday proposed to exempt Sebi-registered FPIs, pension funds and SWFs from the purview of angel tax.
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Tax Raids At Fintech Firm; Rs 500-Crore Allegedly Sent Abroad Illegally
A fintech company engaged in giving instant loans through a mobile app has been found to have repatriated Rs 500 crore "non-genuine" funds overseas, the CBDT said on Wednesday.
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Tax Department Carries Out Search Operations Against Three Companies Across 14 Locations
The Income Tax department has conducted search operations against three leading companies in 14 locations, the Central Board of Direct Taxes (CBDT) said on Friday.
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Central Board Of Direct Taxes Chairman Pramod Chandra Mody Gets 6-Month Extension
Pramod Chandra Mody was on Monday given a six-month extension till February next year as the chairman of the Central Board of Direct Taxes (CBDT), a Personnel Ministry order said.
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Employee Who Levelled Charges Against Top Tax Official Gets Promoted
Days after her tiff with the CBDT chief made headlines, it has now emerged that the Indian Revenue Service (IRS) officer Alka Tyagi has been promoted to a higher rank and posted at the tax department's training academy in Nagpur.
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Those With No PAN Cannot Avail E-Assessment System, Says Tax Body
A taxpayer who does not have an e-filing account or a PAN will not be able to avail the facility of getting into e-assessment system of income tax that is set to be launched from next month, a latest Central Board of Direct Taxes (CBDT) directive said.
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Tax Authorities Don't Snoop On Social Media, Says Top Official
It is a "misconception" to think that the Income Tax Department is snooping on social media posts related to exotic foreign tours or possession of expensive goods to check undisclosed income, a top official has said.
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Priority Services, More In Planned Rewards Program For Honest Taxpayers
The government is working on an ambitious policy proposal to "facilitate" honest and consistent taxpayers in availing a variety of public services and tax-related works on priority, officials said today.
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Tax Officials Told To Clear Appeals In Cases Above 50 Crores By Year-End
Faced with litigation that has assumed "grave proportions", the Central Board of Direct Taxes (CBDT) has directed tax officials to dispose of appeals cases where the tax demand is above Rs 50 crore on priority by the year-end.
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Be An Informer For Income Tax Department; Earn Up To Rs 5 Crore
Sharing "specific information" with the income tax department about any benami transaction or property could earn you up to Rs one crore, while the same for undisclosed black money stashed abroad could fetch up to Rs 5 crore.
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Nearly 70 Lakh Income Tax Non-Filers For 2015-16 Identified By Authorities
The Income Tax Department has identified an additional 67.54 lakh potential non-filers who carried out high-value transactions in 2014-15 but did not file returns.
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Inflows Into Jan Dhan Accounts Decline After Centre's Warning: Tax Department
Government today said that inflows into Jan Dhan accounts have come down significantly after it warned people not to allow their accounts to be misused for converting black money into white.
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Tax Department Finds Rs 1.64 Crore In Undisclosed Income From Jan Dhan Accounts
The Income Tax department has detected undisclosed monies of Rs 1.64 crore and other "inconsistencies" in its countrywide investigations into the sudden popping up of suspicious amounts in Jan Dhan accounts.
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In Late-Night Black Money Count, Tax Officials Raced To Beat 1997 Record
For inhabitants of the dreary offices of Central Board of Direct Taxes or CBDT in the North Block of the cabinet secretariat in Delhi, it was an unusual night as officials summed up voluntary disclosures of unaccounted wealth or 'black money' made over the last four months.
-
Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
-
Centre Proposes Changes To Tax On Angel Investors In Unlisted Entities
The Income Tax Department on Friday proposed to exempt Sebi-registered FPIs, pension funds and SWFs from the purview of angel tax.
-
Tax Raids At Fintech Firm; Rs 500-Crore Allegedly Sent Abroad Illegally
A fintech company engaged in giving instant loans through a mobile app has been found to have repatriated Rs 500 crore "non-genuine" funds overseas, the CBDT said on Wednesday.
-
Tax Department Carries Out Search Operations Against Three Companies Across 14 Locations
The Income Tax department has conducted search operations against three leading companies in 14 locations, the Central Board of Direct Taxes (CBDT) said on Friday.
-
Central Board Of Direct Taxes Chairman Pramod Chandra Mody Gets 6-Month Extension
Pramod Chandra Mody was on Monday given a six-month extension till February next year as the chairman of the Central Board of Direct Taxes (CBDT), a Personnel Ministry order said.
-
Employee Who Levelled Charges Against Top Tax Official Gets Promoted
Days after her tiff with the CBDT chief made headlines, it has now emerged that the Indian Revenue Service (IRS) officer Alka Tyagi has been promoted to a higher rank and posted at the tax department's training academy in Nagpur.
-
Those With No PAN Cannot Avail E-Assessment System, Says Tax Body
A taxpayer who does not have an e-filing account or a PAN will not be able to avail the facility of getting into e-assessment system of income tax that is set to be launched from next month, a latest Central Board of Direct Taxes (CBDT) directive said.
-
Tax Authorities Don't Snoop On Social Media, Says Top Official
It is a "misconception" to think that the Income Tax Department is snooping on social media posts related to exotic foreign tours or possession of expensive goods to check undisclosed income, a top official has said.
-
Priority Services, More In Planned Rewards Program For Honest Taxpayers
The government is working on an ambitious policy proposal to "facilitate" honest and consistent taxpayers in availing a variety of public services and tax-related works on priority, officials said today.
-
Tax Officials Told To Clear Appeals In Cases Above 50 Crores By Year-End
Faced with litigation that has assumed "grave proportions", the Central Board of Direct Taxes (CBDT) has directed tax officials to dispose of appeals cases where the tax demand is above Rs 50 crore on priority by the year-end.
-
Be An Informer For Income Tax Department; Earn Up To Rs 5 Crore
Sharing "specific information" with the income tax department about any benami transaction or property could earn you up to Rs one crore, while the same for undisclosed black money stashed abroad could fetch up to Rs 5 crore.
-
Nearly 70 Lakh Income Tax Non-Filers For 2015-16 Identified By Authorities
The Income Tax Department has identified an additional 67.54 lakh potential non-filers who carried out high-value transactions in 2014-15 but did not file returns.
-
Inflows Into Jan Dhan Accounts Decline After Centre's Warning: Tax Department
Government today said that inflows into Jan Dhan accounts have come down significantly after it warned people not to allow their accounts to be misused for converting black money into white.
-
Tax Department Finds Rs 1.64 Crore In Undisclosed Income From Jan Dhan Accounts
The Income Tax department has detected undisclosed monies of Rs 1.64 crore and other "inconsistencies" in its countrywide investigations into the sudden popping up of suspicious amounts in Jan Dhan accounts.
-
In Late-Night Black Money Count, Tax Officials Raced To Beat 1997 Record
For inhabitants of the dreary offices of Central Board of Direct Taxes or CBDT in the North Block of the cabinet secretariat in Delhi, it was an unusual night as officials summed up voluntary disclosures of unaccounted wealth or 'black money' made over the last four months.
