I-t Department

Last Date To Link Aadhaar With PAN Extended To June 30

India News | NDTV News Desk | Wednesday March 31, 2021

The Income Tax (I-T) department has extended the last date for linking the Aadhaar number with PAN (Permanent Account Number) from March 31, 2021 to June 30, 2021, in order to provide relief amid the COVID-19 pandemic.

Deadline For Filing Income Tax Returns With Late Fee Is March 31: How To Do It Online

Business | Edited by Nikita Prasad | Wednesday March 24, 2021

Income Tax Returns 2020: The Income Tax (I-T) department notified that all those who could not file their returns on income by January 10, can still do so by the end of this month.

Here's How To Link Aadhaar Number With PAN

Business | Edited by Nikita Prasad | Saturday January 9, 2021

Aadhaar Card PAN Card Linking Process: Income Tax (I-T) department enables users to link the two identification numbers online through a simple tool on its website

"Nation Behind Farmers, How Many Will You Raid?" Arvind Kejriwal Asks Centre

India News | Reported by Arun Singh, Edited by Harish Pullanoor | Sunday December 20, 2020

Delhi Chief Minister Arvind Kejriwal today came down heavily on the Central government for targeting Punjab's farm agent, known as arhtiyas, through income-tax raids and notices. He alleged that the government was adopting such coercive measures to weaken the farmers' protest.

Taxpayers Not Required To Disclose High-Value Transactions In Return Form: Report

Business | Press Trust of India | Monday August 17, 2020

Only third parties would report high-value transactions to the I-T department as per the Income Tax Act.

I-T Department Adopts New Charter. Here's What's In Store For Taxmen And Taxpayers

Business | Edited by Abhik Deb (with inputs from agencies) | Thursday August 13, 2020

The tax officers will now be committed to a 14-point charter, while taxpayers will have to fulfill six-point expectations of the I-T Department

No Need To Meet Taxman In Case Of Scrutiny Notice, Use Faceless Assessment: Income Tax Department

Business | Press Trust of India | Monday July 20, 2020

The I-T department has disposed of 7,116 cases under the first phase of the faceless assessment scheme

I-T Department Extends Deadline For Tax Savings Investments

Business | Edited by Peter Noronha (with inputs from agencies) | Friday July 3, 2020

The Central Board of Direct Taxes (CBDT) has extended the time limit for making investments to claim income tax deduction by a month till July 31, 2020.

I-T Department Pursuing Extension Of 31 March Deadline For Tax-Related Works, Says Revenue Officials' Body

Business | Press Trust of India | Monday March 23, 2020

The Income-Tax Department is "proactively pursuing" with the government extension of the statutory March 31 deadline to complete important tax-related works due to the COVID-19 outbreak, an all-India body of IRS officers said on Monday. It has also urged all I-T department officials to work from home in view of the social distancing guidelines issu...

"Pressure, Unclear Promotion Rules": Tax Officials Warn Of Lower Collections

Business | Reuters | Thursday March 5, 2020

Prime Minister Narendra Modi's government is pushing to shore up revenue as the country's once-booming economy grows at roughly 11-year lows.

Odisha Daily Wage Labourer Gets Tax Notice For Rs 1.47 Crore Transaction

India News | Indo-Asian News Service | Tuesday February 4, 2020

Sanadhara Gand, a daily wage labourer from Odisha's Nabarangpur district, was shocked when he received a notice from the Income Tax (I-T) Department for carrying out bank transactions of Rs 1.47 crore.

I-T Department Tax Refunds Up At Rs 1.57 lakh Crore: Revenue Secretary

Business | IANS | Friday December 13, 2019

He said "By December 15, the advanced tax for Q3 will come and at that stage we will get an idea of what is going to be the impact of corporate tax reduction announced in September. Each company will assess how much tax they have to pay for the current year after adjusting the tax liabilities paid in first two quarters. After that only we will come...

Tax Raids At 39 Locations To Check "Tax Evasion" By BSE Brokers, Traders

India News | Press Trust of India | Sunday December 8, 2019

The income-tax (I-T) department has conducted searches at 39 locations to check alleged tax evasion by brokers and traders operating at the Bombay Stock Exchange in transactions worth about Rs 3,500 crore, the CBDT said on Saturday.

Income Tax Department Cancels Registration Of Six Tata Trusts

Business | Indo-Asian News Service | Saturday November 2, 2019

In July, the I-T department had served notices on a set of Tata Trusts seeking to reopen assessment and questioning their decision to "surrender" registrations in 2015.

Rs 30 Crore 'Black Money' Found In Tax Raids At Tamil Nadu Coaching Firm

Tamil Nadu News | Indo-Asian News Service | Saturday October 12, 2019

In raids on a Tamil Nadu-based business group running coaching institutes for competitive examinations, the Income Tax (I-T) Department has seized Rs 30 crore unaccounted cash.