Black money: Keep foreign info strictly secret, CBDT tells I-T
CBDT has issued fresh instructions to the taxman to ensure that information on individuals holding black money abroad is strictly kept secret as any "careless" act could give an excuse to the data supplying country for not helping India in the future.
Jun 03, 2015, 21:18 PM IST
Now, Rs 2 lakh penalty for not answering tax authorities queries
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 provides for a minimum penalty of Rs 50,000.
May 31, 2015, 10:58 AM IST
I-T to scan tier-II cities to bring more people in tax net
The Income Tax department has decided to use technical intelligence and pay special focus on tier-II cities like Jaipur, Surat and Lucknow among others, to bring more and more people living in these "progressive" cities under the tax net.
May 24, 2015, 18:05 PM IST
FM to inaugurate annual conference of top I-T officials on Monday
Finance Minister Arun Jaitley will inaugurate the 31st annual conference of top Income Tax (I-T) commissioners here on Monday.
May 23, 2015, 21:21 PM IST
CBDT effects changes; Chairperson divests investigation charge
The CBDT has effected an in-house change of charges with Chairperson Anita Kapur divesting the additional charge of investigations to another Member in the board.
May 19, 2015, 19:38 PM IST
India ignored warnings on foreign investor tax row: Sources
The Finance Ministry could have sidestepped a damaging multibillion-dollar tax row with foreign investors if it had acted on regular warning letters that officials had been sending since as long ago as September.
May 19, 2015, 12:05 PM IST
New ITR forms to be far more simplified: FM Jaitley
The controversial new income tax return forms, which had been put on hold, will be "far more simplified", Finance Minister Arun Jaitley said Saturday, but kept the suspense on if the requirement of disclosing all bank accounts and foreign travels will be retained.
May 16, 2015, 16:18 PM IST
New ITR forms to be far more simplified: FM Jaitley
The new income tax return (ITR) forms will be far more simplified, Finance Minister Arun Jaitley said on Saturday.
May 16, 2015, 15:50 PM IST
Black money: Compliance window in the next 2-3 weeks
Under the new law, persons having unaccounted wealth will be given an opportunity through a compliance window to come clean by declaring their assets and pay penalty and tax of 60 percent.
May 14, 2015, 17:37 PM IST
CBDT paid Rs 42,903 cr interest on tax refunds: CAG
The tax department has incurred an expenditure of Rs 42,903 crore on interest payments on refunds during the 6-year period ended 2013-14 without approval of Parliament, official auditor CAG said on Tuesday.
May 12, 2015, 16:39 PM IST
Drug makers' tax benefit claim on freebies, gifts unlawful: CAG
Slamming the practice of pharma companies offering freebies and gifts to doctors, government auditor CAG said that drug makers have claimed tax benefits on such expenses despite these being prohibited by law.
May 10, 2015, 14:36 PM IST
Plan to expeditiously provide PAN cards to all
Special camps will be organised throughout the country, including rural areas, to help people get PAN cards.
May 10, 2015, 12:46 PM IST
After Modi prod, I-T dept looks to redress taxpayer grievances on priority
Modi has taken up the PRAGATI programme in order to ensure better service delivery by government departments.
May 10, 2015, 10:20 AM IST
Govt to study HC stay order on MAT levy on FIIs
With a foreign fund house getting a court stay on the controversial MAT levy, the tax department Tuesday said it will study the Bombay High Court order before taking a view on the matter.
May 05, 2015, 22:33 PM IST
Direct Tax collections marginally short of target in 2014-15
Direct tax collections touched Rs 6,96,200 crore during 2014-15 despite difficulties on the economic front, marginally falling short of the target.
May 05, 2015, 16:26 PM IST
I-T dept collects Rs 6.96 lakh cr revenue during 2014-15
The achieved collections are about Rs 9,000 crore or 14 percent short of the projected target of Rs 7,05,000 crore.
May 03, 2015, 15:59 PM IST
CBDT to settle foreign funds' claims within a month
The Income Tax department has directed its officers that cases of foreign institutional investors (FIIs) seeking tax exmption under the Double Taxation Avoidance Agreements (DTAAs) with other countries must be decided within a month of claim filing.
Apr 27, 2015, 19:06 PM IST
CBDT to settle FII tax claims under DTAAs in a month
Seeking to quickly resolve the controversial tax issue facing foreign portfolio investors, the CBDT on Friday said all claims coming under the ambit of DTAAs will be settled within a month of being filed.
Apr 24, 2015, 23:08 PM IST
Govt meets FIIs on tax issues, offers DTAA relief to MAT-hit investors
In a relief to foreign investors slapped with Rs 40,000 crore tax demands, the government Wednesday said such levies would not be applicable to the entities based in countries having double taxation avoidance pacts with India, while others can approach the courts for reprieve.
Apr 22, 2015, 17:42 PM IST
Soon, PAN card to be issued in 48 hours flat!
The government will soon launch a facility under which a PAN card will be issued within 48 hours of applying.
Apr 21, 2015, 23:44 PM IST
