Tag: Income Tax
17 Results
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I-T Dept conducts searches in Delhi-NCR
The Income Tax Department conducted a search and seizure operation on a leading automobile manufacturer group along with a company operating chartered flights and a real estate group of Delhi-NCR covering more than 35 premises across Delhi-NCR.
March 31, 2022 -
Income tax raids Huawei, found suppression of income to the tune of Rs 400 crore
Preliminary investigations revealed that the Huawei group had made inflated payments against receipt of technical services from its related parties outside India, said a senior officer of the Finance Ministry here on Thursday.
March 3, 2022 -
Budget 2022
It would have been better if the Budget had focussed more on issues affecting the common man. For example, inflation and unemployment are not mentioned at all in the FM's Budget speech. Co-operative Societies have got some relief from tax in the Budget, but individuals and partnership firms continue to be taxed at double the rates of manufacturing companies. Expectations of the middle class regarding lower petrol prices, increased standard deduction, increased 80C limit etc. have all been belied
February 4, 2022 -
Income Tax Dept conducts searches in more than 20 premises of real estate group in Gujarat
According to the Central Board of Direct Taxes (CBDT), a large number of incriminating evidence in the form of documents, diary notings and digital data showing earning of huge unaccounted income by the group and its investment in assets have been found and seized.
November 21, 2021 -
Income Tax officials detects unaccounted cash exceeding Rs 200 crores
The IT department has also seized fourteen bank lockers which were allegedly used to keep the unaccounted cash, benami property papers and jewellery, said a senior officer of the Finance Ministry.
November 5, 2021 -
Over 2 crore Income Tax Returns filed on e-Filing portal of Income Tax Department
Over 13.44 crore unique taxpayers have logged in till 13th October, 2021.
October 15, 2021 -
Centre exempts 165 District Mineral Foundations from Income Tax
“The collections under DMF as well as interest accrued will be exempted from IT. A Gazette notification has been issued to this effect,” said Coal and Mines Minister Pralhad Joshi here on Saturday.
September 11, 2021 -
I-T Dept to refund excess interest, late fee for FY21 return filing
The deadline for filing ITR for the last financial year was extended to September 30, 2021, in a bid to provide relief to taxpayers amid the pandemic.
August 12, 2021 -
I-T dept functionality to identify ‘specified persons’ on whom higher TDS will be levied from Jul 1
"New functionality issued for compliance checks for sec 206AB & 206CCA to ease compliance burden of tax deductors/collectors," the I-T department had tweeted.
June 22, 2021 -
Income tax compliance deadlines extended amid new coronavirus wave
The Central Board of Direct Taxes (CBDT) said it had received representations from various stakeholders for relaxation on compliance requirements.
May 1, 2021 -
Govt squashes demand for further extension of filing IT return
It will also hamper the government's efforts to provide relief to the poor during Covid times, the office order said.
January 12, 2021 -
Have you filed your income tax return yet? Last date is December 31
The CBDT said the deadlines have been extended in order to "provide more time to taxpayers for furnishing”.
November 30, 2020 -
Income Tax Department raids multiple locations, unearths unaccounted stock worth crores
Around 814 kg of excess stock valued at around Rs 400 crore was identified and would be brought to tax.
November 12, 2020 -
‘Fake news’: Donald Trump on report that he paid $750 in income taxes in 2016
It added that he also paid only $750 in his first year in the White House, and he had paid no income taxes at all in 10 of the previous 15 years because he reported losing much more money than he made.
September 28, 2020 -
Income Tax department issued over Rs 1.06 lakh crore refund between April 1-Sep 15
This includes personal income tax (PIT) refunds amounting to Rs 31,741 crore.
September 17, 2020 -
Madras HC issues notice to AR Rahman over tax evasion case
The I-T department filed a case saying the foundation did not have a Foreign Contribution Regulation Act (FCRA) license at that time to receive payment from a foreign organisation.
September 12, 2020 -
I-T authorities can share info with scheduled commercial banks: CBDT
Section 138 of the Income Tax Act empowers income tax authorities to share information/ details of its taxpayers with other agencies.
September 1, 2020