I-T warns of action against those disclosing secret tax info
The Central Board of Direct Taxes (CBDT) said the confidentiality of taxpayers' information has assumed a greater significance in view of "increased availability of information" regarding offshore tax evasion, tax avoidance and stashing of unaccounted money abroad.
Jul 19, 2015, 12:50 PM IST
Black money law: FinMin wants people to address queries to CBDT
Finance Ministry Tuesday dismissed some media reports on the new black money law as "surmises" and asked people to address queries directly to the revenue department.
Jul 14, 2015, 19:52 PM IST
Blackmoney: CBDT rejigs committee to handle FATCA cases
Through an order issued days before FATCA was signed by the two countries on July 9, the CBDT has increased the strength of the panel from existing seven to eight members.
Jul 12, 2015, 13:42 PM IST
File appeals on merit: CBDT to taxman
Disapproving of the 'casual' attitude of taxmen in filing appeals and pursuing litigation in important revenue matters, the CBDT has asked the I-T department to take legal recourse only in "deserving" cases.
Jul 12, 2015, 12:30 PM IST
Compliance window last chance to come clean on black money: Govt
Terming the rules for the new black money law "simple and clear", Finance Ministry on Saturday said the ongoing compliance window will be the last chance to come clean on undisclosed foreign assets.
Jul 04, 2015, 21:01 PM IST
Tax, penalty to be levied at market price under black money law
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
Jul 03, 2015, 18:35 PM IST
Govt notifies rules for asset valuation under black money law
Government has notified the rules for calculating overseas income and assets under the stringent foreign black money law that came into force on July 1.
Jul 03, 2015, 16:01 PM IST
E-filing: I-T dept to send 24-hr valid password to taxpayers
The deadline for filing ITRs is August 31.
Jun 29, 2015, 18:43 PM IST
Use online tax calculator to file ITR for AY 2015-16
The CBDT had notified the new forms early this week ushering in the ITR filing season which ends on August 31.
Jun 28, 2015, 10:45 AM IST
Working to make life easy for taxpayers: CBDT
The CBDT is working to create an atmosphere where a taxpayer's life becomes so "easy" that they are never compelled to visit an I-T department office and the hassle of paying taxes is "eliminated totally", its chief has said.
Jun 25, 2015, 14:47 PM IST
No taxman can terrorise assesses of scrutiny: CBDT chief
Seeking to allay concerns of taxpayers, CBDT has asked them not to get terrorised by threats of their cases being wilfully chosen for "scrutiny" by the taxman as the procedure is fully electronic and devoid of any human intervention.
Jun 24, 2015, 15:54 PM IST
Govt notifies new and simplified ITR forms
The Income Tax department has notified the new set of ITR forms, including a three-page simplified one, for taxpayers to file their returns for assessment year 2015-16.
Jun 23, 2015, 20:48 PM IST
All I-T refunds to be put directly in bank accounts: CBDT
The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department.
Jun 23, 2015, 16:35 PM IST
Black money: Compliance window to be short and out soon
They added the window could be kept "as short as possible" as a 'trend analysis' of the subject has shown that the target audience for this special exercise would not be a very large base.
Jun 22, 2015, 14:52 PM IST
No coercion by taxmen to recover MAT dues, says CBDT
In a breather for investors, CBDT on Tuesday said taxmen won't resort to coercive methods to recover dues towards Minimum Alternate Tax (MAT) on capital gains made by FIIs and will wait for the Supreme Court order on the issue.
Jun 16, 2015, 17:58 PM IST
Evasion spoiling compliance culture, I-T will act tough: CBDT
The menace of tax evasion is "spoiling" the culture of compliance in the country and the Income Tax department will ensure that chronic evaders are not able to get away without facing court cases, a top CBDT official on Tuesday said.
Jun 16, 2015, 17:56 PM IST
Government asks top taxmen to ideate for widening tax base
The unique move comes in the backdrop of the government recently asking the I-T department to take urgent steps to widen the tax base and add at least 25 lakh new assesses every month during the current financial year 2015-16.
Jun 14, 2015, 13:08 PM IST
CBDT asks I-T Dept to address taxpayers' grievances in time-bound manner
In order to aggressively mitigate grievances of taxpayers, CBDT has asked the taxman to address rectification applications filed by affected assesses in a prompt and time-bound manner.
Jun 10, 2015, 18:48 PM IST
Strong action against big tax evaders acts as deterrent: CBDT
The CBDT Monday dismissed reports that it has asked its officers to go beyond raids and searches to target tax evaders and maintained that stringent action in big cases of evasion would go a long way to demonstrate to compliant taxpayers that laws are just and fair.
Jun 08, 2015, 22:55 PM IST
Instill fear of jail and social censure in tax evaders: CBDT
Taxman should instill the fear of "incarceration, loss of liberty and social opprobrium" in tax evaders and prosecute them in large numbers to create a credible deterrence against the menace of black money, the CBDT says.
Jun 07, 2015, 09:30 AM IST
