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Central Board of Direct Taxes News
Central Board of Direct Taxes
CBDT asks I-T Dept to probe about 3 lakh de-registered firms for money laundering
Fri, Mar 29, 2019
"In cases of detection of unusual transactions and beneficiaries thereof, appropriate action may be taken as per provisions of the I-T Act after seeking restoration of the struck off company by filing an appeal before the National Company Law Tribunal (NCLT)," the CBDT said.
Income Tax department to soon decide on startups to be exempt from angel tax
Thu, Feb 07, 2019
The meeting comes against the backdrop of various startups raising concerns on notices sent to them under Section 56(2) of I-T Act to pay taxes on angel funds.
Income Tax Return Alert! Tax evaders beware! CBDT finds out who is not paying tax via this secret system; check now
Wed, Jan 23, 2019
The CBDT is using data analytics via the Non-filers Monitoring System (NMS) to identify and monitor persons who enter into various transactions and have potential tax liabilities.
Income tax filers list: 75 L new tax filers added to IT net this fiscal
Sun, Nov 04, 2018
About 75 lakh new tax filers have been added to the income tax payers list in the country this fiscal till now, a senior official said.
How many crorepati in India 2018? Check the shocking numbers
Tue, Oct 23, 2018
The number of crorepatis in India has increased by 68% during the past four years, data released by the Central Board of Direct Taxes (CBDT) on Monday showed.
Income Tax Return: Taxpayers' declared wealth at whopping Rs 45 lakh crore! 68% more crorepati ITR filers
Tue, Oct 23, 2018
India's total number of taxpayers showing income above Rs 1 crore has gone up sharply in the last three years.
Net direct tax collection grows 15.7% to Rs 4.89-lakh cr: CBDT
Mon, Oct 22, 2018
The net direct tax collection in the country grew by 15.7 per cent on year-on-year basis to reach Rs 4.89 lakh crore in the current fiscal till third week of October, a senior official on Monday quoting from the latest data.
Paid your income tax returns? This is how Modi Government will surprise you
Sun, Oct 14, 2018
The Modi 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 Sunday.
Income tax returns filing: Big gains for small taxpayers
Fri, Jul 13, 2018
Following an increase in threshold limit for filing tax appeals in various courts and tribunals, the government will forego nearly Rs 6,000 crore locked up in tax disputes, finance minister Piyush Goyal said on Thursday.
Scindia House fire: Nirav Modi/Mehul Choksi case records safe, govt clarifies
Mon, Jun 04, 2018
Nirav Modi/Mehul Choksi case: The government today clarified that documents relating to the Nirav Modi/Mehul Choksi case were completely safe.
Income Tax dept tells TDS deductors not to violate deadline, threatens to slap Rs 200 p.d. penalty
Sat, May 19, 2018
TDS deductors have been cautioned today to adhere to the stipulated deadline of May 31 to file their statements. Income Tax Department (ITD) threatened to slap a penalty of Rs 200 on them for each day of default if they failed to meet the deadline. The Central Board of Direct Taxes (CBDT), which frames policy for the I-T department, issued an advertisement in this context
CBDT asks field officers to step up collections to meet Rs 10.05 lakh crore target
Sun, Feb 25, 2018
In the April-January period, the government has collected Rs 6.95 lakh crore from direct taxes, which was 69.2 per cent of the revised estimate of Rs 10.05 lakh crore for full 2017-18 fiscal. In the last fiscal (2016-17), the government had collected Rs 8.49 lakh crore as direct taxes.
LTCG: Here are the answers to Frequently Asked Questions
Mon, Feb 05, 2018
The tax will be levied only upon transfer of the long-term capital asset on or after 1st April, 2018, as defined in clause (47) of Section 2 of the Act.
Will govt bring change in income tax slab? here's the present structure
Tue, Jan 02, 2018
Every year the government revises the income tax slab rates during the budget. Various deduction are allowed to a taxpayer under Section 80C and Section 80D.
Know under which category of income tax slab you come
Wed, Dec 27, 2017
If you are a salaried person and earn up to Rs 2.5 lakh, you are not liable to pay any income tax. However, if you earn between Rs 2.5 lakh and Rs 5 lakh, you have to pay 5% income tax.
Unsold realty inventory under Income Tax radar to check hoarding
Tue, Nov 28, 2017
A tax between 8% and 10% could be applied on the property that is held under "stock in trade" by the developers. The Central Board of Direct Taxes has already sent internal guidelines to I-T officials across the country,
Taxmen asked to slap higher tax rate on fraudulently revised ITR
Mon, Nov 27, 2017
The CBDT has earlier directed the assessing officers to check the “genuineness and creditworthiness” of those people to whom the assessee has reported the additional sales in the revised returns, after the note ban.
Tax evasion: I-T deptment, SEBI begin crackdown on penny stock firms
Mon, Nov 20, 2017
The I-T department and SEBI are working on a two-pronged approach that involves action against tax evaders and tightening of norms for scrips prone to price manipulation
Shell companies under IT scanner; involvement in Benami transactions suspected
Wed, Nov 15, 2017
Banks started scanning all the account details of directors who were disqualified by the Ministry of Corporate Affairs as part of alleged shell companies.
DeMo: Income Tax department to issue notices to suspicious cash depositors
Tue, Nov 14, 2017
Sushil Chandra, chairman, Central Board of Direct Taxes (CBDT) said despite closing of I-T returns filing time period, a number of entities and individuals failed to file their tax returns, as required under the 'Operation Clean Money' (OCM) initiated by the government to check black money post demonetisation.