Tue, Apr 02, 2024
In such cases, the I-T department can also send a notice to the landlord requesting a response, and their tax burden may increase if they disclose the truth. You may also face charges of fraud.
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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.
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 27, 2019
The axe has fallen on Group B officers of the rank of income tax officer (ITO) under Clause (j) of Rule 56 of the Fundamental Rules.
Wed, Nov 20, 2019
ITR 2020: Income Tax Return or ITR filing for the year 2020 is just four months away and people have started to find their investment options to save their income tax liability.
Tue, Nov 12, 2019
The search operations resulted in busting of a major racket of cash generation by leading corporate houses in the infrastructure sector through bogus contracts bills.
Sun, Oct 13, 2019
19% increment in the 'Crorepati' taxpayers, IT issues the first list after demonetisation. Watch this video to know more in detail.
Mon, Oct 07, 2019
Revenue Secretary A.B. Pandey inaugurated the National e-Assessment Centre (NeAC), saying the move was aimed at moving to faceless scrutiny and elimination of human interface.
Mon, Sep 23, 2019
A lot of taxpayers have been asking questions and raising concerns relating to processing of income tax returns, ITR refunds, etc on Twitter. Therefore the I-T department's social media team keeps on warning all such taxpayers or assesses who mention their PAN in the tweets.
Sat, Aug 31, 2019
ITR filing last date today: The taxpayers must file their income tax returns for the financial year 2018-19 by today (August 31, 2019) to avoid penalty.
Mon, Aug 26, 2019
The Income Tax Department has now come up with certain steps to shield taxpayers from fake tax notices.
Wed, Aug 14, 2019
The cases were dismissed on the basis of recent Circular issued by CBDT on August 8, the Circular had increased the threshold for filing cases in ITAT from Rs 20 Lakh to Rs 50 Lakh retrospectively.
Income-Tax dept said, "Income tax department is launching 'e-Verify Return' for e-Verification of ITR without login."
Tue, Jul 23, 2019
Income Tax Return (ITR) filing: The decision was announced by Finance Ministry via their Twitter account.
Mon, Jul 22, 2019
Income Tax returns (ITR) filing delay is something one should avoid. That is exactly what I-T department has been saying to all taxpayers across India. Notably, there are penalties involved.
Fri, Jul 12, 2019
Income Tax Department (ITD) recruitment 2019: Income Tax Department (ITD) has issued a recruitment notification inviting applications from the meritorious Sportspersons for the positions of Tax Assistant and MTS.
Wed, Jul 10, 2019
Last minute rush always works negative against taxpayers, as chances of errors while filing income tax returns are higher.
Mon, Jul 08, 2019
Income Tax Appellate Tribunal, Mumbai bench has granted tax relief to actor Shilpa Shetty, who was a brand ambassador for IPL team Rajasthan Royals.
Tue, Jul 02, 2019
With July 2019 kicking in, it will be a very busy month for Income-Tax return (ITR) filers and other taxpayers either, be it individuals or corporates.
Fri, Jun 28, 2019
With new Income Tax return changes in place, it is important you do not make mistake and have every document ready.
Thu, Jun 27, 2019
If you are in the habit of paying your income tax at the last minute, then you might not want to miss out on the latest alert in order to ensure seamless ITR filing.
Wed, Jun 26, 2019
Every year before July end, a taxpayer must communicate all her or his income earned from salary and other sources in a financial year to the I-T department.
Fri, Jun 21, 2019
Many people inadvertently, or when they show unseemly hurrywhile trying to get a PAN card or due to some other reason, get into trouble and they should know that penalties can be levied.
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