Scindia House fire: Records related to Nirav Modi case safe, says CBDT
India | June 03, 2018 22:30 ISTThe clarification came following media reports claiming the records were destroyed in the fire.
The clarification came following media reports claiming the records were destroyed in the fire.
The group will also "make recommendations for policy decision in respect of tax risks of the migrating HNIW population".
The order said the deadline for PAN-Aadhaar linking for filing I-T returns is being extended after "consideration of the matter".
The new regime of e-communication is expected to be voluntary and taxpayers can take a call on whether to conduct their dealings over the e-system or through the existing procedure of manual submission of documents by visiting the tax office.
"Salaried taxpayers, pensioners need no documents, bills to claim Rs 40,000 standard I-T deduction on travel, medical expenses," Chandra said after Budget announcements.
The CBDT has been running a pilot project in a few major cities and has been testing the feasibility of implementing this new regime of tax assessment for the last few years.
The I-T department will comb through the tax history of all people who have registered property valued above Rs 30 lakh to check if any tax evaders own such properties by proxy, CBDT chairman Sushil Chandra said.
CBDT on Tuesday said it was not only confident that the Income Tax (IT) department would achieve the direct tax collection target for the current financial year, but that it would go past it.
The government on Monday said that tax officials will investigate the leaked financial documents through a reconstituted multi agency group.
Refuting reports regarding inconsistency in the estimate of the number of taxpayers added after demonetisation, CBDT clarified that the various govt statements referred to different time periods.
The CBDT has shifted out non-performers from significant charges, besides those officers holding a post for two years or more, and also those who are facing vigilance or other disciplinary charges
Tax authorities have added a fresh provision in the Income Tax Return forms that will require NRIs to furnish details of all offshore accounts
CBDT Chairman has written a letter to his regional I-T heads across the country asking them to “maximise” efforts for widening of the tax base during the current financial year of 2017-18
The new SAHAJ form also requires reporting of cash deposited in a bank account from November 9 last year to December 30, 2016 if the taxpayers deposited Rs. 2,00,000 or more during the demonetisation period
CBDT has constituted a special team of officers to prepare rules for new system of jurisdiction-free I-T assessment.
More trouble is likely for former finance minister P Chidambaram and son Karti as the Central Board of Direct Taxes (CBDT) is likely to initiate a probe into the reported irregularities in foreign investment approval for INX Media in 2007
Sacked Delhi minister Kapil Mishra will today approach the Central Bureau of Investigation (CBI) and Central Board of Direct Taxes (CBDT) to file corruption charges against Delhi Chief Minister Arvind Kejriwal
Income Tax department has sent over 260 requests overseas seeking information in connection with its tax evasion probe in the Panama papers leak case.
The CBDT has refrained tax officials from issuing threat, warning or show-cause notice to taxpayers contacted by it under Operation Clean Money.
The pains involved with getting a permanent account number issued from authorities and the confusing number of procedures that make the exercise of paying taxes seem insurmountable even for an ordinary citizen may soon be a thing of the past.
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