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  Government working on administrative mechanism to resolve startups' legacy tax issues: CBDT chief

  India | July 09, 2019 18:07 IST

  Startups should not have any concern related to taxation and the government is putting in place an administrative mechanism to resolve the legacy issues, CBDT chief P C Mody said on Tuesday.

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  Government working to create trust between taxpayer, I-T deptt, but due taxes must be paid: CBDT

  India | July 08, 2019 17:54 IST

  The Income Tax Department has issued Rs 64,700 crore worth refunds in the current fiscal, and for full 2018-19 fiscal the amount released was over Rs 1.61 lakh crore.  

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  Concerns related to 'angel tax' sorted out, CBDT chief asks start-ups not worry about taxman

  Budget | July 06, 2019 20:09 IST

  Central Board of Direct Taxes (CBDT) Chairman P C Mody told news agency PTI in an interview that all "legacy issues" related to start-ups will be resolved through a consultative process and under strict supervision of senior officers of the tax authority.

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  CBDT directs I-T dept to share assets, accounts info of loan defaulters with banks

  Business | June 26, 2019 15:00 IST

  The CBDT has directed the Income-Tax Department to share in "public interest" details of assets and accounts of all such loan defaulters against whom a public sector bank has made a plea to it. 

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  CBDT releases new I-T compounding guidelines; no relief in criminal black money cases

  Business | June 17, 2019 17:50 IST

  The new directives make it clear that compounding of offences is "not a matter of right" and the department can extend such a relief only in certain cases keeping in view factors like "conduct of the person, the nature and magnitude of the offence on the context of the facts and circumstances of each case."

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  New Income Tax Rules in effect from today. Tax evaders can't just get away by paying penalty

  Business | June 17, 2019 13:50 IST

  Any offence which has to bear on any offence under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 would not be generally compounded, the revised guidelines said.

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  No raids on TDP MP, Rs 45 lakh in cash seized from accountant in Vijayawada: CBDT

  India | April 10, 2019 21:57 IST

  The CBDT, in a statement, also clarified that no premise of Guntur TDP MP Jayadev Galla was searched during the operation conducted on Tuesday.

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  Big revelation by CBDT: Rs 20 crore cash moved to headquarters of major political party in Delhi

  India | April 08, 2019 22:56 IST

  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.

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  1.07 crore new taxpayers added, dropped filers down at 25.22 lakh in FY18: CBDT

  Business | April 04, 2019 23:01 IST

  The Income Tax department said on Thursday it added 1.07 crore new taxpayers while the number of ‘dropped filers’ came down to 25.22 lakh in 2017-18, showing the positive impact of demonetisation.

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  CBDT asks I-T Dept to probe about 3 lakh de-registered firms for money laundering

  Business | March 29, 2019 12:01 IST

  The board has asked the tax offices to undertake this special task and bring under their ambit the time period (over the last two years) when these companies were struck off from the records of the Ministry of Corporate Affairs (MCA).    

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  Direct tax collection falls short, CBDT raises alarm

  India | March 28, 2019 12:03 IST

  The officer, who is responsible to supervise I-T department's tax collection work across the country, underlined the areas that are sluggish vis-a-vis direct tax collections obtained from personal, corporate and advance tax categories.  

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  Linking Aadhaar-PAN is mandatory for tax filers; to be completed by March 31: CBDT

  India | February 15, 2019 16:59 IST

  The CBDT has stressed that Aadhaar-PAN linking is "mandatory" for those filing an Income Tax Return (ITR) and this procedure has to be "completed" by March 31 this year.

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  Non-filers will get 21 days to file income tax returns, submit response: CBDT

  Business | January 23, 2019 7:56 IST

  Data analysis has identified "several potential non-filers" who have carried out high value transactions in 2017-18 but have still not filed returns for AY 2018-19, CBDT said. 

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  CBDT directs taxman to maximise collection efforts as growth rate not satisfactory

  Business | January 06, 2019 18:01 IST

  With growth in direct tax collections sluggish, the CBDT has directed income tax department officials to "maximise" their efforts and conduct targeted surveys and file court cases against those who wilfully evade taxes.

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  Service charge not distributed to workers by restaurants liable to income tax: CBDT

  Business | November 22, 2018 22:47 IST

  The department has asked the field offices to examine the books hotels and restaurants to see if there is any 'under reporting' or 'non-reporting' of service charge collected by them.  

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  Net direct tax collection grows 15.7 per cent to Rs 4.89-lakh cr: CBDT

  Business | October 22, 2018 17:58 IST

  The CBDT official also the income tax department issued about 2 crore refunds for an amount of about Rs 1.09 lakh crore, till last week.

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  Number of crorepatis has risen by 60 % in India: CBDT

  Business | October 22, 2018 14:57 IST

  "While 88,649 taxpayers had disclosed income above Rs 1 crore in assessment year 2014-15, the figure was 1,40,139 for AY 2017-18, which is a growth of about 60 per cent," the CBDT said.  

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  CBDT extends deadline for filing income tax return, audit report till October 31

  Business | October 08, 2018 20:26 IST

  This is the second extension within a fortnight of the CBDT, earlier extending the deadline for tax payers whose accounts have to be audited from September 30 to October 15.

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  Gross direct tax collection grows 16.7 pc to Rs 5.47 lakh cr in Apr-Sept

  Business | October 04, 2018 14:00 IST

  Gross direct tax collection in the first six months of the financial year grew 16.7 per cent to Rs 5.47 lakh crore, Finance Ministry said Thursday.

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  ITR deadline: What happens if you don't file income tax return today

  Business | August 31, 2018 10:02 IST

  According to recent changes in penalty slab by CBDT, non-filing of ITR before the due date from this assessment year would lead to a penalty of Rs 1,000, 5,000 and Rs 10,000.