I-T dept to step up prosecution against TDS defaulters
Concerned over latest shortfall in TDS revenue collections, the Income Tax department has decided to enhance prosecution action against large defaulters with the help of its specialised electronic database and processing centre created for this exclusive task.
Feb 03, 2015, 16:27 PM IST
Shortfall in TDS collections: CBDT asks I-T dept to act
The board, according to sources, asked I-T officials to bolster their efforts and give special emphasis on tax collections under the Tax Deducted at Source (TDS) and Advance Tax categories.
Feb 01, 2015, 10:06 AM IST
CBDT asks officials not to pursue Vodafone-type tax cases
The Tax Department on Thursday asked its field officers not to pursue transfer pricing cases similar to Vodafone's, a move being seen as a major relief to multinationals fighting such cases involving tax demands of thousands of crores of rupee.
Jan 29, 2015, 19:53 PM IST
Black money: CBDT issues directive to finish probe by March 31
Investigations against black money holders in Swiss bank accounts have been put on a fast-track as the CBDT has asked tax sleuths to gather all evidences and render final action by March-end.
Jan 13, 2015, 16:49 PM IST
Fin Min proposes new tax accounting standards for businesses
In the draft paper, the Ministry has suggested tax accounting standards for various matters including those related to lease of equipment, construction-linked projects and inventory valuation.
Jan 10, 2015, 00:27 AM IST
India studying information given by Cyprus
India will look at removing Cyprus from the blacklist of countries that do not share details about tax evaders after examining information given by the island nation.
Dec 25, 2014, 19:21 PM IST
CBDT signs first bilateral APA
"This is India's first bilateral APA. The APA is for a period of five years," an official statement said.
Dec 19, 2014, 21:28 PM IST
Don't coerce assessee to falsely admit income: CBDT to I-T dept
Taking cognizance of a number of complaints from assessees who said they were "coerced" by I-T officials to admit having black money, the CBDT has issued a stern warning to the taxmen asking them to "strictly avoid" indulging in acts which later embarrass the entire department.
Dec 19, 2014, 19:29 PM IST
CBDT to hold high-level tax collection meeting next week
The next week's meeting will be chaired by CBDT Chairperson Anita Kapur along with the five members.
Dec 18, 2014, 17:29 PM IST
CBDT chief to keep exclusive charge of I-T investigations
A major reshuffle has been effected in the CBDT, with the board's Chairperson Anita Kapur deciding to assume exclusive charge of Income-Tax department investigations in order to personally spearhead ongoing probes into cases of tax evasion and black money.
Dec 14, 2014, 22:28 PM IST
Former CEA to head FinMin panel to hear industry's tax issues
The Finance Ministry Wednesday set up a high level committee to interact with trade and industry on tax related issues on regular basis and ascertain areas where clarity in tax laws is required.
Dec 03, 2014, 21:31 PM IST
Black money: CBDT orders probe against select real estate firms
These 35 real estate companies under scanner are spread across the national capital, UP, Haryana, Rajasthan, West Bengal, AP, Maharashtra and Karnataka.
Nov 29, 2014, 17:54 PM IST
SIT on black money to create database of tax crimes
The Special Investigation Team (SIT) on black money has decided to create a rich national database where multiple agencies probing tax and financial crimes will pool in vital classified information to be shared for seamless investigation.
Nov 19, 2014, 18:58 PM IST
Absence of treaties with tax haven nations blocking black money fight
Absence of criminal legal treaties between India and tax haven nations have been cited by probe agencies working in the SIT on black money as one of the major impediments in initiating steps to bring back illegal funds stashed abroad by Indians.
Nov 12, 2014, 17:05 PM IST
CBDT issues directions for avoidance of baseless assessment
CBDT has issued a set of instructions for avoidance of baseless assessment and disposal of grievances within a stipulated time period.
Nov 10, 2014, 15:58 PM IST
CBDT asks officials to refrain from adversaries to assessees
The Central Board of Direct Taxes (CBDT) has asked its officials to refrain from adversaries to the assessees.
Nov 08, 2014, 12:39 PM IST
Blackmoney: Govt appoints outgoing CBDT boss as SIT Advisor
Chowdary will take charge of the new post from Saturday on his retirement after serving over three decades in the Income Tax cadre of the Indian Revenue Service.
Oct 31, 2014, 19:33 PM IST
CBDT asks I-T to tap over 5L taxpayers who didn't file returns
As part of efforts to boost revenue collection, CBDT has asked the Income Tax Department to monitor cases of over five lakh taxpayers who have not filed their latest tax returns.
Oct 31, 2014, 15:32 PM IST
SIT to go after blackmoney offenders: Justice Shah
The Supreme Court-appointed SIT, looking into the blackmoney cases, on Thursday said it will go after the offenders "big or small" and will submit its report by the first week of December.
Oct 30, 2014, 19:03 PM IST
Jaitley to meet IT official to review revenue collection
Among host of issues that pose a challenge to the revenue collection, official said, the FM would review the shortage of tax collection under Tax Deducted at Source (TDS) category.
Oct 28, 2014, 18:37 PM IST
