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Income-Tax Department News
MP raids: I-T detects Rs 281cr racket of slush funds; recovers cash
Tue, Apr 09, 2019
The Income-Tax Department Monday said it has detected a "widespread and well-organised " racket of collection of unaccounted cash of about Rs 281 crore during raids against close aides of Madhya Pradesh Chief Minister Kamal Nath and others.
Income Tax dept has become service-oriented, says officer
Wed, Dec 05, 2018
Income-Tax department has "evolved" into a "service-oriented" department from merely being a tax law implementation entity, a top officer said here Wednesday.
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: How to file ITR returns without form 16
Mon, Jul 30, 2018
Income tax returns filing: The deadline for filing ITR returns is around the corner and the small taxpayers and salaried are rushing to file their returns - notably, the deadline has been extended by a month.
What is the difference between PAN card and TAN card?
Wed, May 16, 2018
While PAN stands for Permanent Account Number, TAN stands for Tax Deduction Account Number. TAN is to be obtained by the person responsible who is an taxpayer or runs a business to enable proper deduction of tax, i.e. the deductor.
Income-Tax Department cautions taxpayers on malicious emails; issues 5-point advisory
Tue, May 08, 2018
The I-T Department has asked taxpayers not to respond to malicious emails. The statement says that Income Tax Department never asks PIN, OTP or similar information about credit cards, banks or other financial institutions' account details through email or phone
PNB fraud case: 9 firms tied to Nirav Modi did no business
Fri, Feb 23, 2018
AT least nine firms associated with billionaire diamond jeweller Nirav Modi were incorporated in 2010 but did not carry out any business before all of them were shut down in 2012, as per records investigated by The Indian Express.
Is it the end of the road for Mehul Choksi's Gitanjali Gems?
Tue, Feb 20, 2018
By Ashish K Tiwari Gitanjali Gems is now almost a sunk ship. Its 300-odd employees in Mumbai haven't turned up for work since the company promoter's alleged involvement in the over Rs 11,000 crore fraud at Punjab National Bank (PNB) came into light last week.
Post-demonetisation number of taxpayers increased: FinMin
Fri, Dec 22, 2017
During the period from April 2017 to October 2017, ITD conducted search operation on around 275 groups, in which undisclosed income of over Rs 7,800 crore was admitted.
Here's how to use Income Tax Declaration Scheme
Fri, Jul 08, 2016
In an attempt to curb black money flowing into the country's economy, Prime Minister Narendra Modi-led government has launched an Income Tax Declaration Scheme, 2016.