Income Tax Department
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Income Tax Department releases 2020 calendar that mentions tax paying deadlines
Business | Jan 04, 2020, 07:59 PM ISTI-T Department has now made things easier for taxpayers. The department has the released Year 2020 calendar that mentions all important dates including Income Tax deadlines.
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PAN-Aadhaar linking deadline: PAN card may become 'inoperative' from Jan 2020. Check details
Business | Dec 30, 2019, 01:43 PM ISTPAN-Aadhaar linking deadline: Your PAN card will be treated as 'inoperative' if you fail to link it with your Aadhaar card by 31 December 2019. The income tax department extended the Aadhaar-PAN linking deadline seven times. The Central Board of Direct Taxes (CBDT) in September extended the deadline from September 30 to December 31, 2019.
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Mandatory to link PAN-Aadhaar by Dec 31: Income Tax department
Business | Dec 15, 2019, 05:43 PM ISTIt is mandatory to link your PAN with Aadhaar, according to the public message issued a fortnight before the deadline ends.
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I-T department issues tax refunds of Rs 1.57 lakh crore till November
Business | Dec 13, 2019, 04:39 PM ISTAt a press conference called to disclose impact of steps taken to boost consumption in the economy so as to uplift growth from a six-year low, Pandey said tax refund cases have gone up by 17 per cent to 2.16 crore.
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Income Tax department issues 2.10 crore tax refunds till November; Rs 1.46 lakh crore refunded
Business | Dec 03, 2019, 08:34 PM ISTThe Centralised Processing Centre (CPC) processed 4.70 crore tax returns between April 2019 and November 28 (almost eight months of current 2019-20 year) as opposed to 3.91 crore returns being processed in the same period a year back, they said.
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Attention Aadhaar card holders! You may have to pay Rs 10,000 fine for making this mistake
Business | Nov 13, 2019, 02:27 PM ISTAadhaar cardholders there's an important update in the rules. Providing the wrong 12-digit biometric id number can attract a fine of Rs 10, 000. Hence, individuals need to be careful while quoting Aadhaar card numbers.
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Rousing welcome to Congress leader Shivakumar in Karnataka
India | Oct 26, 2019, 06:25 PM ISTShivakumar was released from Tihar Jail after 50 days on Thursday on a conditional bail, granted by the Delhi High Court. He was in custody in connection with a case under the Prevention Money Laundering Act (PMLA) 2002, filed on a complaint by the Income-Tax Department, which had seized Rs 8.6 crore cash from his flat in New Delhi in August 2017.
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Share secret info on overseas black money after permission'
Business | Sep 19, 2019, 05:13 PM ISTIt has also asked the taxman to guard against unauthorised disclosure of such information as it is a "serious matter".
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Missed filing ITR? Here's what you MUST do
Business | Sep 02, 2019, 01:47 PM ISTITR Filing Deadline: August 31 was the last date to file income tax return. On the deadline day, the Income Tax department witnessed a record number of ITR (Income Tax Returns) filed. In a single day, a record number of more than 49 lakh ITRs filed. A record number of 49,29,121 ITRs were filed on August 31.
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Deadline of filing ITRs not extended; do it by August 31: I-T department
Business | Aug 30, 2019, 08:23 PM ISTOn July 23, the government had extended the due date for filing income tax returns by individuals for the financial year 2018-19 by a month till August 31. The earlier deadline was July 31.
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Government extends CBDT Chairman Mody's tenure by 1 year
India | Aug 29, 2019, 04:17 PM ISTA 1982-batch Indian Revenue Service (Income Tax cadre) officer, Mody took over as the Central Board of Direct Taxes (CBDT) chief in February.
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Filing ITR online? Income Tax issues alert about this fraud; says, DON'T do this
Business | Aug 22, 2019, 01:35 PM ISTITR Filing 2019 Deadline: August 31 is the last day for filing Income Tax Return (ITR) for the Assessment Year 2019-20 (the Financial Year 2018-19). If you are a taxpayer and are or will file your income tax return then here is an important advisory issued by the Income Tax department.
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Rs 700 crore undisclosed income unearthed in IT raids in Tamil Nadu
Business | Aug 11, 2019, 01:28 PM ISTThe Income Tax Department has conducted a search and seizure operation in Tamil Nadu and detected an undisclosed income of Rs 700 crore, according to an official statement.
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Income Tax Return: Step-by-step guide to file ITR online before last date
Fyi | Jul 16, 2019, 02:36 PM ISTITR Filing: To file an income tax return (ITR) for the assessment year 2019-20 for FY 2018-19, July 31 is the last date. Individuals can file ITR online through income tax's e-filing ITR website. Here is a step-by-step guide on how to file ITR online – Part A and Part B.
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ITR filing: File Income Tax return before last date and avoid these consequences
Business | Jul 15, 2019, 09:49 PM ISTJuly 31 is the last day for filing Income Tax Return (ITR) for the assessment year 2019-20 (the financial year 2018-19). This year, certain sections of ITR forms will be pre-filled as notified by the Income Tax Department. If you have not filed your ITR this year, do it before the deadline or you will have to face these consequences.
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CBDT directs I-T dept to share assets, accounts info of loan defaulters with banks
Business | Jun 26, 2019, 03:00 PM ISTThe 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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IT Dept issues notices in 380 cases of undisclosed foreign assets of Rs 12,260 cr
India | Jun 24, 2019, 11:16 PM ISTIn a written reply to a question in the Lok Sabha, Nirmala Sitharaman said prosecution has been launched in 68 cases.
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I-T department issued Rs 64,700 crore refund between Apr 1-Jun 18, 2019: Nirmala Sitharaman
Business | Jun 24, 2019, 02:38 PM ISTIn a written reply to a question in the Lok Sabha, she said over 6.49 crore electronic returns were submitted for the assessment year 2018-19 (financial year 2017-18), up 18.65 per cent from over 5.47 crore in the assessment year 2017-18.
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New compounding rules make it difficult for tax evaders to get away
Business | Jun 15, 2019, 07:19 PM ISTThe new guidelines will kick in from June 17, 2019, and apply to all cases for compounding received on or after this date.
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Income Tax officials raid offices of Srinagar Deputy Mayor across 3 locations
India | Jun 11, 2019, 12:26 PM ISTInformed sources said the team carried out the raids at the offices located in the Old City's Bohri Kadal area and Nowgam in the outskirts of the city. However, the reason for the raids remains unknown.