Income Tax Department
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Income Tax Department extends deadline for employers to issue Form 16 to employees till July 10
Business | Jun 04, 2019, 09:34 PM ISTThe Income Tax department Tuesday extended the deadline for employers to issue Form 16 TDS certificate for financial year 2018-19 to its employees by 25 days till July 10.
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CBDT extends due date for TDS deductors in cyclone-hit Odisha
India | May 24, 2019, 11:29 PM ISTThe Income Tax Department Friday extended the due date for depositing tax deducted at source (TDS) for the month of April 2019 from May 7 to May 20 for deductors in cyclone-hit Odisha.
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SC to hear Centre's plea in black money case on Tuesday
India | May 20, 2019, 08:12 PM ISTThe Centre on Monday moved the Supreme Court challenging a Delhi High Court order, which has ruled that the black money law can't have a retrospective effect, that is, it cannot be applied prior to April 1, 2016, as fixed by Parliament.
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Income Tax department revises format of TDS certificate issued by employers
Business | Apr 16, 2019, 07:29 PM ISTAmong other things, the revised Form 16 will also include details of deductions in respect of interest on deposits in savings account, and rebates and surcharge, wherever applicable.
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Tax officials to scrutinise mismatch between income tax and service tax returns
Business | Apr 08, 2019, 06:32 PM ISTMismatches were also noticed for the financial year 2016-17, for which data is being shared with the field offices.
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Direct tax collection falls short, CBDT raises alarm
India | Mar 28, 2019, 12:03 PM ISTThe 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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Non-filers will get 21 days to file income tax returns, submit response: CBDT
Business | Jan 23, 2019, 07:56 AM ISTData 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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Income Tax department makes changes to PAN application forms: 5 things you need to know
Business | Nov 23, 2018, 01:13 PM ISTThe notification has also made it mandatory for entities that have made financial transactions worth Rs 2.5 lakh or more in a financial year to apply for a PAN card.
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Quoting of father’s name in PAN applications not mandatory: Income Tax Department
Business | Nov 20, 2018, 06:52 PM ISTThe notification has also made it mandatory for entities that have made financial transactions worth Rs 2.5 lakh or more in a financial year to apply for a PAN card.
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Srijan scam: Income Tax Department raids house of Sushil Modi's cousin in Patna
India | Sep 06, 2018, 07:14 PM ISTThe sleuths were accompanied by police personnel during the raid at Rekha Modi's S P Verma Road house here this afternoon.
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ITR deadline: What happens if you don't file income tax return today
Business | Aug 31, 2018, 10:02 AM ISTAccording 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.
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Tamil Nadu: Rs 163 crore, 100 kg gold seized in country's 'biggest' raid on road construction firm
India | Jul 17, 2018, 01:57 PM ISTThe seizure was probably the biggest so far in raid operations conducted anywhere in the country, officials said.
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Over 50 wealthy individuals on I-T radar for buying Nirav Modi jewellery, tax returns to be reassessed
Business | Jul 14, 2018, 02:25 PM ISTIn reply to the tax notices, most of the people said that they did not make any cash payment, but this version does not corroborate with the data obtained by the IT Department vis-a-vis the sales made by the firms of Nirav Modi.
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IT department files chargesheets against P Chidambaram, kin under Black Money Act
India | May 11, 2018, 05:31 PM ISTThe charge-sheets or prosecution complaints have been filed by the department before a special court in Chennai under Section 50 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, officials said.
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Soon, I-T department employees to follow dress code
India | Apr 18, 2018, 02:41 PM ISTThe Income Tax department on Wednesday announced that a dress code is being imposed upon its employees through the rollout of ‘Operation Dress Code’.
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Income-Tax department names and shames 24 defaulters owing Rs 490 crore in taxes
India | Mar 29, 2018, 06:54 PM ISTThe department issued an advertisement as part of its name and shame defaulters policy in leading national dailies titled ‘List of defaulters of Income Tax and Corporate Tax’.
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Last date for filing ITR: Income Tax officials to work on March 29, 30 and 31
Business | Mar 28, 2018, 07:54 PM ISTRunning late for filing ITRs? Don't worry! Income Tax department has decided to remain open on public holidays and weekend to help people in the last minute ITR filings.
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Rotomac bank fraud: I-T Dept attaches four properties in Kanpur, Ahmedabad
Business | Feb 21, 2018, 09:36 PM ISTThe department, earlier this week, had attached 14 bank accounts that were in various bank branches in Uttar Pradesh.
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PNB fraud: I-T Dept attaches Nirav Modi's 141 bank accounts and FDs worth Rs 145 crore
Business | Feb 21, 2018, 09:11 PM ISTThe crackdown by I-T Department comes a day after the Enforcement Directorate (ED) launched an investigation 79 shell companies owned by the Gitanjali Group chief Mehul Choksi and 41 owned by Modi in India.
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I-T Dept to tax bitcoin trade; already issued ‘few lakh’ notices: CBDT
Business | Feb 02, 2018, 05:00 PM ISTFinance Minister Arun Jaitley, in his Budget speech yesterday, had said that all types of crypto currencies, including bitcoins, are illegal and the government will take all measures to eliminate their use.