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CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated

Central Board of Direct Taxes (CBDT) chairman Agrawal said the committee is looking at the best glo…

PTI   


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After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters

As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax cleara…

PTI   


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Higher cash seizures being recorded by I-T dept every assembly polls: CBDT

Cash seizures made by the Income-tax department during successive assembly elections have shown a s…

PTI   


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Direct tax collections rise 18% so far in current financial year

The government's gross direct tax collections have risen by 16.77 per cent to touch Rs 17.18 lakh c…

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CBDT notifies ITR forms for assessment year 2023-24

The Central Board of Direct Taxes (CBDT) has notified income-tax return forms (ITR forms) for the a…

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In Covid days, I-T Department refunds ₹62,000 crore to 20 lakh taxpayers

In pursuance of the exercise to meet liquidity needs taxpayers during COVID-19 pandemic, the income…

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Infra.Market is reportedly under income tax lens for an alleged evasion of ₹224 crore

After the Income tax department recently raided a proptech startup based in Pune and Thane and foun…

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PM to launch platform to honour honest taxpayers on August 13

New Delhi, Aug 12 () Prime Minister Narendra Modi will launch a platform for honouring the country'…

PTI   


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Lockdown period not to be counted for determining residency status of NRIs, foreign nationals: CBDT

In cases where such individuals have been quarantined in India due to COVID-19 on or after March 1…

PTI   


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Banks and post offices now need only PAN to determine TDS rate, says CBDT

The Income Tax Department has facilitated a new functionality for banks and post offices to ascerta…

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CBDT initiates inquiry on IRS officers for unsolicited report on funding COVID relief work

"It was not even part of their duty to prepare such a report. Therefore, it is prima-facie an act o…

PTI   


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TN-based educational group admits to having Rs 532-cr black money: CBDT

New Delhi, Jan 24 () A prominent Tamil Nadu-based educational group has "admitted" to having Rs 532…

PTI   


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Illegal money being paid every month to public servants in Chhattisgarh: CBDT on I-T raids

It added that "unaccounted transactions" unearthed till date are more than Rs 150 crore after the s…

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Raids on Lalit hotels group, promoter led to Rs 1,000-cr black foreign assets: CBDT

New Delhi, Jan 24 () The Income-Tax Department's searches on the Bharat Hotels group, that runs the…

PTI   


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Retrospective tax continues to give government sleepless nights as major investors might feel threatened by ongoing Vodafone tax dispute

The controversial retrospective tax provision has come back to worry the Indian government. After a…

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Daily cash transactions limit not for withdrawals from banks and post offices

Limit on daily cash transactions not applicable on withdrawals from banks and post offices, says CB…

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Submit PAN for all your bank accounts from February

To ensure less tax evasion, the government has asked banks to obtain permanent account number (PAN)…

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I-T officials seize Rs 4.7 crore in new currency notes in Bengaluru

According to the officials, searches were started on the premises of two engineers, working with th…

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Black money: SIT tightens noose, wants bogus companies to be closely monitored!

It further added, “In case after investigation or assessment by CBDT, a case of creating accommodat…