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Income Tax Department News
Income Tax Department
ITR filing: Crorepati taxpayers grew 20% in Assessment Year 2018-19: Tax data
Fri, Oct 11, 2019
ITR filing: The sharp increase in the number of crorepati taxpayers has come despite slowing economy and reports of stagnancy in salaries.
Income Tax Dept proposes to seek more details on foreign donations from trusts
Tue, May 21, 2019
The Central Board of Direct Taxes (CBDT) has issued a draft notification to amend Form 10B of the Income-tax Rules, 1962 by proposing changes in the audit report form to be filled by trusts and institutions.
Income Tax dept to soon share turnover, ITR filing data of businesses with GSTN
Tue, Apr 30, 2019
Income tax officers and GSTN, the company that handles the information technology backbone of the new indirect tax regime, will also decide on the modalities for "automatic" and "spontaneous" exchange of data.
Income Tax department warns people who furnish false information to authorities: Here is what will happen
Tue, Jan 29, 2019
"The Income Tax Department has already attached and confiscated benami properties worth more than Rs 6,900 crore," the message said.
Income tax return filing: I-T dept allows manual filing by resident, NRI taxpayers
Tue, Dec 25, 2018
The Income Tax Act, 1961, provides that if a taxpayer considers that his total income warrants deduction of income tax at lower/ nil rate, he may apply to the assessing officer (AO) requesting for lower withholding certificate.
Black money crackdown: Income-Tax dept launches major drive against thousands of individuals
Tue, Oct 23, 2018
The department, in coordination with their foreign counterparts, is investigating offshore bank deposits and purchase of assets by "thousands of Indians", the officials added. The CBDT Chairman Sushil Chandra confirmed the move but refused to elaborate.
7 important things to take care before you file your tax return on last day
Sun, Jul 30, 2017
Return filing is nothing but a declaration from your side to the government and it reports your income from all the sources as specified under the income tax act as earned during the previous year.
Income Tax Department to launch simplified e-filing of ITR form from April 1
Wed, Mar 29, 2017
Income Tax Department will introduce simplified e-filing of Income Tax return form on April 1 this year which will do away with some columns while filing the the IT returns.