Thu, Mar 21, 2024
NFAC had passed an order on March 31, 2022, disallowing certain expenditure incurred by the Bank. Vide the said order NFAC had raised a demand of Rs 76.23 crores (including interest of INR 18.91 crore) without giving credit to the taxes paid/tax credit available to the company. Jana SFB had filed an appeal before NFAC challenging the above order. NFAC has now passed an order disposing off the appeal, upholding the disallowance made by assessing officer amounting to Rs. 25.03 crore.
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Mon, Jan 08, 2024
Some people think that instead of doing a large amount online transaction, if they deposit the same amount of cash in an account, the Income Tax Department will not notice it. But they are wrong; any transaction done—online or offline—may attract the I-T department's attention. Know about five such transactions that the I-T department may notice and send you an income tax notice for.
Wed, Nov 29, 2023
The Income Tax department on Wednesday conducted a survey operation at some entities of the Hinduja Group in Mumbai and some other cities, official sources said.
Sun, Aug 29, 2021
“Under The Direct Tax Vivad se Vishwas Act 2020 (hereinafter referred to as “Vivad se Vishwas Act”), the amount payable by the declarant is stated in the table under section 3 of the Vivad se Vishwas Act,” this release said
Mon, Aug 23, 2021
Union Finance Minister Nirmala Sitharaman held a meeting with Infosys MD Salil Parekh to convey deep disappointment and concerns of Government and taxpayers about continuing glitches in the e-filing portal.
Sun, Aug 22, 2021
Income Tax Portal - Indian Ministry of Finance has summoned Salil Parekh, the Managing Director (MD) and Chief Executive Officer (CEO) of Infosys on 23 August to seek explanation regarding the prevailing glitches in the new income tax portal, an official Twitter Handle of Income Tax India @IncomeTaxIndia said
Sat, Aug 21, 2021
The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 49,696 crore to more than 22.75 lakh taxpayers between April 1 and August 16, the Income Tax Department of India said on Saturday.
Thu, Aug 19, 2021
For senior citizens and very senior citizens Income Tax Department offers certain income tax benefits and exemptions.
Thu, Aug 05, 2021
As per the information provided by the Income Tax Department, section 17 of the Income-Tax Act defines the term ‘salary’. Generally whatever is received by an employee from an employer in cash, kind or as a facility (perquisite) is considered as salary.
Tue, Aug 03, 2021
PAN stands for Permanent Account Number and TAN stands for Tax Deduction Account Number. TAN is to be obtained by the person responsible to deduct tax.
Fri, Jul 30, 2021
A total of 31 premises, spread across Kanpur, Noida, Ghaziabad, Delhi, and Kolkata, were searched on Thursday, a Finance Ministry statement said,
PAN enables the department to link all transactions of the assessee with the department. These transactions include tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence and so on.
Wed, Jun 09, 2021
Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Few Examples of physical certificates are drivers' licenses, passports or membership cards.
The income tax department on Monday, June 7 launched a new e-filing portal www.incometax.gov.in. The portal will provide an easier way of online filing of returns and tax payments to the taxpayers.
Sun, Jun 06, 2021
A new taxpayer-friendly e-filing portal of the Income Tax Department will be launched on June 7. The website will offer a lot of new features to the taxpayers of the country.
Sun, May 30, 2021
Income taxpayers will now be able to file their income tax returns (ITR) on mobile also. The Income Tax Department will launch a new portal called e-filing 2.0 for filing income tax returns on June 7, 2021.
Thu, May 20, 2021
The Income Tax Department is all set to launch a new website for filing income tax returns (ITR). Due to the launch, the existing e-filing portal will be closed.
Sat, Apr 24, 2021
Income Tax Department Alert: The Modi government has extended deadline for various time barring dates from April 30 to June 30. The decision has been taken in the view of raging Covid 19 pandemic.
Wed, Mar 31, 2021
The new financial year 2021-22 is going to begin from 1st April 2021 i.e. from tomorrow. But, with the end of the current fiscal, some important deadlines are also ending today.
Tue, Mar 30, 2021
Aadhaar PAN Link: Deadline for PAN Aadhaar Link is 31st March 2021 and like previous occasions, people have presumed that there will be extension in Aadhaar PAN linking deadline.
Fri, Mar 26, 2021
Aadhaar PAN Link: PAN Aadhaar link last date to get it done is 31st March, 2021 and like previous occasions, people have presumed that there will be an extension in Aadhaar PAN linking deadline set b the government.
Thu, Mar 25, 2021
Aadhaar PAN Link: Last date for PAN Aadhaar link is 31st March 2021, which is less than a week now.
Tue, Mar 23, 2021
All the PAN card holders, read this carefully. The Income Tax Department has set 31 March 2021 as Aadhaar PAN Link deadline. If your PAN is not linked to your Aadhaar, then from 1 April you will not be able to do any financial transaction.
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