Wed, Nov 13, 2024
There has been a significant increase in income tax compliance in the country with more than five-fold growth in the Rs 50 lakh-plus income category, according to sources.
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Tue, Oct 29, 2024
The income tax department has notified the tolerance range for variation between arm's length price and transfer pricing for international and specified domestic transactions for Assessment Year 2024-25.
Wed, Oct 16, 2024
It would also include cases pending before the Dispute Resolution Panel (DRP) and revision petitions pending before the Commissioner of Income Tax.
Mon, Aug 14, 2017
Though to file Income Tax Return, taxpayers were required to provide just Aadhaar number, but to process that IT return, taxpayers need to link PAN with Aadhaar. This is how you can do.
Thu, Aug 10, 2017
The leading bourse would report to the Sebi about the 48 companies after collecting the information. Out of the 48 firms, ten entities had already been suspended before the Sebi's directive.
Mon, Aug 07, 2017
PAN which is a key identifier of taxable entity and aggregator of all financial transactions are being detected by the IT-department.
Mon, Jul 31, 2017
If you have not filed ITR today, then don't worry, you can file it till August 5, 2017.
Sun, Jul 30, 2017
Many taxpayers are facing hard times in filing their Income Tax Returns they have been requesting IT-department to extend the deadline.
Tomorrow is the last to submit your Income Tax Return for the financial year 2016-17. With one day in hand, the taxpayers should come forward to file ITR to avoid penalties.
Sat, Jul 29, 2017
ITR filing process is complicated and there are always chances of missing out some or the other step.
Fri, Jul 28, 2017
To catch those who try to escape the taxman the government has been working on Project Insight which monitors people’s social media posts to match spending patterns with tax declarations.
Tue, Jul 25, 2017
E-filing or electronic filing is submitting your income tax returns online. There are two ways to file your income tax returns.
Mon, Jul 24, 2017
Arun Jaitley praised Revenue Secretary, Minister of Finance, Hasmukh Adhia for successful implementation of Income Declaration Scheme and activities during and after demonetisation.
This year the department has added a new column where the taxpayer’s will have to report the details of cash deposited in their bank accounts (including loan account) if the aggregate cash deposits for all accounts exceeds Rs 2 lakh during the demonetisation period
Sun, Jul 23, 2017
Massive searches, seizures and surveys by the Income Tax (IT) department over the last three years have led to the detection of around Rs 71,941 crore of "undisclosed income", the Centre has told the Supreme Court.
Fri, Jul 21, 2017
"Besides, concealment penalty of Rs 1,287 crore was levied in 162 cases and 199 criminal prosecution complaints were filed in 84 cases," Finance Minister Arun Jaitley pointed out.
Thu, Jul 20, 2017
Once the income tax returns have been processed by the tax department, the taxpayer can make changes by filing a rectification request under Section 154(1).
Fri, Jul 14, 2017
The Income Tax Department on Friday launched phase 2 of its Operation Clean Money. In the first phase, it had identified nearly 20 lakh people who deposited cash inconsistent with their incomes.
Tue, Jul 11, 2017
Sometimes, while filing the return, you may end-up paying more tax to the government than your actual tax liability. In such cases, you are eligible for a tax refund.
Mon, Jul 10, 2017
According to Income Tax, the new module compiles various tax tools, live chat facility, dynamic updates and important links to various processes within Income Tax Department in a single module.
Wed, Jul 05, 2017
A self-employed person needs to understand the tax treatment. From a tax perspective, self-employed individual's income is Profit & Gains of Business & Profession.
Sat, Jul 01, 2017
The department has also formally notified, under a CBDT notification of June 29, the procedure and format for "intimating Aadhaar number to the I-T Department by PAN holder and quoting the same in PAN applications".
Fri, Jun 30, 2017
Linking Aadhaar becomes mandatory from July 1 but it will not make your PAN card invalid. Time period is expected to be given soon by the IT department.
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![Income Tax: FM Arun Jaitley launches "Aaykar Setu"](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_160x90/public/2017/07/10/21573-arun-jaitley-aaykar-finmin.jpg?itok=zT8ir9yn&c=4bb4f4728ccbc455c3a1da3908f7ec4b "Income Tax: FM Arun Jaitley launches "Aaykar Setu"")
