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Income Tax Department of India

Income Tax Department tightens grip on tax evasion by schools

Income Tax Department tightens grip on tax evasion by schools

Tue, Jan 14, 2025

The Exemption Department has reportedly been monitoring such irregularities in schools for a long time. Officials say some institutions continue to operate as English-medium schools while allegedly misusing provisions meant to facilitate affordable education.

TCS levy: Credit card holders may have to file declaration with banks

TCS levy: Credit card holders may have to file declaration with banks

Tue, Jun 20, 2023

The I-T department is in talks with the RBI and other stakeholders to firm up a mechanism for distinguishing whether the expense is towards medical/education which attract a 5 per cent TCS or for other purposes on which a 20 per cent Tax Collection at Source (TCS) would be levied, they added.

Indian Government will track you on social media to Tax you down

Indian Government will track you on social media to Tax you down

Sun, Mar 31, 2019

Social Media may soon come under the eyes of the Income Tax Department of India, to grab tax thieves and defaulters in the country. The IT department has initiated 'Project Insight' to bring tax thieves and people, who pose rich on social media, under surveillance.

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