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Onion traders asked to start auction or permits will be cancelled
Sun, Sep 17, 2017
After the Income Tax department raided 25 premises of seven major onion traders in Lasalgaon, many of the onion traders have stopped the onion auction in a mark of protest.
Project Insight likely to be launched next month; 7 things you need to know
Wed, Sep 13, 2017
The tax department had last year signed a pact with L&T Infotech for implementation of Project Insight, which is designed to strengthen the non-intrusive information driven approach for improving tax compliance.
Direct tax collections: Did demonetisation, GST slow personal income tax growth?
Tue, Sep 12, 2017
Four months into this fiscal year and the direct tax collections may have increased but the percentage of personal income tax growth was less than half of the year ago period.
Income Tax Department officials conduct massive raid in Delhi, NCR today
Mon, Aug 21, 2017
As per the report, the Income Tax searches have been made on some political leader.
Sebi's scanning of "shell companies" creates problems for investors, banks
Mon, Aug 14, 2017
Market watchdog identified 331 listed firms as suspected shell companies. Various measures are taken by the regulator in tackling the black money.
Over 9.3 crore PANs linked with Aadhaar, this is how you can link yours before August 31
Mon, Aug 14, 2017
Though to file Income Tax Return, taxpayers were required to provide just Aadhaar number, but to process that IT return, taxpayers need to link PAN with Aadhaar. This is how you can do.
Only 48 out of 331 suspected shell cos listed on NSE
Thu, Aug 10, 2017
The leading bourse would report to the Sebi about the 48 companies after collecting the information. Out of the 48 firms, ten entities had already been suspended before the Sebi's directive.
11 lakh PANs deactivated: Is your PAN active? Here's how you can find it
Mon, Aug 07, 2017
PAN which is a key identifier of taxable entity and aggregator of all financial transactions are being detected by the IT-department.
Income Tax: ITR filing deadline extended till August 5
Mon, Jul 31, 2017
If you have not filed ITR today, then don't worry, you can file it till August 5, 2017.
Is income tax filing deadline going to be extended?
Sun, Jul 30, 2017
Many taxpayers are facing hard times in filing their Income Tax Returns they have been requesting IT-department to extend the deadline.
Income Tax: Your ITR filing process not complete unless send for ITR-Verification
Sun, Jul 30, 2017
Tomorrow is the last to submit your Income Tax Return for the financial year 2016-17. With one day in hand, the taxpayers should come forward to file ITR to avoid penalties.
Income Tax: A complete checklist for your ITR filing
Sat, Jul 29, 2017
ITR filing process is complicated and there are always chances of missing out some or the other step.
Govt may pull up tax evaders via social media posts from next month
Fri, Jul 28, 2017
To catch those who try to escape the taxman the government has been working on Project Insight which monitors people’s social media posts to match spending patterns with tax declarations.
Income Tax: File ITR online in six easy steps
Tue, Jul 25, 2017
E-filing or electronic filing is submitting your income tax returns online. There are two ways to file your income tax returns.
Will ensure minimum possible direct interface between assesses and ITD Officers, says FM Jaitley
Mon, Jul 24, 2017
Arun Jaitley praised Revenue Secretary, Minister of Finance, Hasmukh Adhia for successful implementation of Income Declaration Scheme and activities during and after demonetisation.
Income Tax: This is how you can show Rs 2 lakh deposit transaction in ITR copy
Mon, Jul 24, 2017
This year the department has added a new column where the taxpayer’s will have to report the details of cash deposited in their bank accounts (including loan account) if the aggregate cash deposits for all accounts exceeds Rs 2 lakh during the demonetisation period
Undisclosed income of Rs 71,941 crore found in 3 yrs: Govt to SC
Sun, Jul 23, 2017
Massive searches, seizures and surveys by the Income Tax (IT) department over the last three years have led to the detection of around Rs 71,941 crore of "undisclosed income", the Centre has told the Supreme Court.
Income Tax dept detects Rs 19,000 crore black money in ICIJ, HSBC cases
Fri, Jul 21, 2017
"Besides, concealment penalty of Rs 1,287 crore was levied in 162 cases and 199 criminal prosecution complaints were filed in 84 cases," Finance Minister Arun Jaitley pointed out.
Filed Your Income Tax return and realised you made a mistake? Here's what to do
Thu, Jul 20, 2017
Once the income tax returns have been processed by the tax department, the taxpayer can make changes by filing a rectification request under Section 154(1).
Operation Clean Money Phase 2: IT Department identifies 5.5 lakh more people for cash deposit scrutiny
Fri, Jul 14, 2017
The Income Tax Department on Friday launched phase 2 of its Operation Clean Money. In the first phase, it had identified nearly 20 lakh people who deposited cash inconsistent with their incomes.