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Flipkart may pay higher taxes after posting discounts as capital expenditure
Mon, Jan 22, 2018
The IT department is yet to specify the amount of tax liability.
India sends tax notices to cryptocurrency investors as trading hits $3.5 billion
Fri, Jan 19, 2018
India has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period, the income tax department said.
IT dept increases security under Prohibition of Benami Property Transactions Act
Thu, Jan 11, 2018
Central Board of Direct Taxes (CBDT) on Thursday announced that the Income Tax Department has stepped up actions under the Prohibition of Benami Property Transactions Act (the ‘Benami Act’).
Raids on over 180 premises: Dhinakaran cries 'conspiracy'
Fri, Nov 10, 2017
Income Tax sleuths today carried out simultaneous multi-city raids on 187 premises including those linked to sidelined AIADMK leaders V K Sasikala and her nephew T T V Dhinakaran and Tamil television channel Jaya TV over suspected tax evasion.
Now chat online with IT-department experts to clear your doubt in tax filing
Wed, Oct 18, 2017
A taxpayer can get their doubt answered by entering on official website of IT-department. There is an icon at the right side of website.
I-T Department unearths income of Rs 5,400 crore post-note ban
Sat, Jul 22, 2017
"During the period from November 9, 2016 to January 10, 2017, more than 1,100 searches and surveys were conducted by the I-T Department apart from issuing more than 5,100 verification notices in the cases of suspicious high value cash deposits or related activities," Minister of State for Finance Arjun Ram Meghwal told the Lok Sabha.
Aadhaar is now must for PAN; Here's how you can file ITR -4 Sugam
Sat, Jul 08, 2017
Government has notified to quote their Aadhaar for applying PAN. We tell you how to file your income tax returns if you have to file using ITR-4.
Cairn tax dispute: I-T dept confiscates dividend, refund
Mon, Jun 19, 2017
The Income Tax Department has ordered coercive action against Cairn Energy of UK, including taking away over Rs 2,000 crore dividend and tax refund, to recover part of the Rs 10,247 crore retrospective tax.
Be prepared taxpayers; first installment of advance tax due tomorrow
Wed, Jun 14, 2017
Advance Tax Payment has been given as an option by IT department to make payment of taxes in installment. Four dates are been provided and if a taxpayer does not make payment by end of March 2018, he or she will have to make 100% advance tax.
Replying to income tax scrutiny notices will be soon just a click away
Sun, Jun 11, 2017
Replying to income tax scrutiny notices with supporting documents will soon be just a click away.
100% penalty if Rs 2 lakh or more transacted in cash, warns IT Department
Fri, Jun 02, 2017
Income Tax Department, in an advertisement, has warned people for not transacting in cash for Rs 2 lakh or more.
Increase in take away salary expected; IT department to tighten the grasp over tax defaulters
Sat, May 27, 2017
This segment of News Tonight Superfast brings to you the top news updates from all spheres of the country. Watch to know about the difficulty which tax defaulters are going to face, bankers' meet with finance minister and for other recent happenings.
IT department to launch a website for operation clean money
Mon, May 08, 2017
IT department to launch a website for operation clean money. Watch this special segment and get to know more here.
Infosys for first time records negative growth in hiring; recruits about 6,000 people so far in FY17
Mon, Feb 13, 2017
A senior official of the Telangana Government on Monday said that Infosys for the first time has registered negative growth in its hiring for the fiscal year 2016-17 (FY17).
Government to allow deposits on one or more occasions in Garib Kalyan scheme
Tue, Feb 07, 2017
More than one deposit of undisclosed income can be deposited at the authorized banks. The deposit sum should not be less than 25% of declared undisclosed income.
Tax dept leans on 'Big Data' to mark out multiple PAN holders
Sun, Jan 29, 2017
To plug tax loopholes, the I-T department will use Big Data analytics to track down evaders by collecting information such as common address, mobile number and e-mail to establish relationship between their multiple PANs.
1 taxpayer owes 11% of India's individual income tax in 2014-15
Tue, Jan 24, 2017
India had 36.5 million individual taxpayers who declared taxable income of Rs 16.5 lakh crore and were liable to pay Rs 1.91 lakh crore as income tax -- an increase of 23% and 37%.
Tax dept to rope in auditors to probe bank deposits
Sun, Jan 08, 2017
With an estimated Rs 15 lakh crore back in the banking system post demonetisation, the income tax department is in talks with leading global tax consultants, including EY, KPMG and PricewaterhouseCoopers, for forensic audit of the data to see if any of it is laundered money.
IT department asks banks to report cash deposits in accounts from April-November
Sun, Jan 08, 2017
The Income Tax department on Sunday asked banks to report on cash deposits in accounts from the period April 1 to November 9, 2016, Times Now tweeted.
Luxury cars sales likely to drop as IT dept asks dealers for sales numbers since demonetisation
Tue, Dec 27, 2016
The IT department has send notices to car dealers asking them for information on the sales of luxury cars from November 8 onwards.