हिन्दी मराठी বাংলা தமிழ் മലയാളം ગુજરાતી తెలుగు ಕನ್ನಡ ਪੰਜਾਬੀ

I-T department

I-T Department launches OTP facility for online ITR filing

The Income Tax Department Monday launched its ambitious One Time Password (OTP) based e-filing verification system for taxpayers, thereby ending the practice of sending paper acknowledgement to its office in Bengaluru.

Jul 13, 2015, 18:09 PM IST

Indirect tax collections pace up, grow 37.5% in April-June

IIP data showed that the growth in factory output in the first two months of the fiscal was 3 percent as against 4.6 percent in April-May of 2014-15.

Jul 11, 2015, 10:58 AM IST

I-T Dept eyes Rs 2.56 lakh crore tax mop up from Mumbai in FY16

The Income Tax department is looking at collecting tax worth Rs 2,56,000 crore from the Mumbai zone during this fiscal, which is 13 percent more than the amount mopped up last year.

Jul 09, 2015, 19:04 PM IST

Black money: Compliance window not to apply if proceedings already on, says govt

Indian government has received information regarding some its citizens having undisclosed foreign accounts in HSBC bank's Geneva branch and LGT Bank Liechtenstein.

Jul 03, 2015, 22:32 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

I-T dept plans stringent action against habitual evaders

This follows a strategy evolved at a recently-concluded national conference of I-T brass here where it was decided to go after the evaders with full vigour.

Jun 21, 2015, 10:46 AM 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

'Vedanta to be accountable for Cairn's $3.2 billion tax demand'

The I-T Department had in March imposed a tax demand of Rs 20,495 crore on Cairn India for failing to deduct withholding tax on alleged capital gains made by its erstwhile promoter, Cairn Energy.

Jun 15, 2015, 16:12 PM IST

Govt will have to forget direct tax of Rs 6.73 lakh crore

A paper presented during the recently held All India Conference of Chief Income Tax Commissioners stated that the department might recover 19% of Rs 8 lakh crore. But there's a rider: even this is going to be a 'tough task'.

Jun 08, 2015, 13:31 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

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

United Spirits gets MCA, I-T Dept notices to inspect books

USL said its Board has asked MD and CEO Anand Kripalu to further probe "possible existence of any other transaction of a similar nature" with certain "additional parties", in which the probe had raised concerns.

May 27, 2015, 15:15 PM IST

I-T Dept issues detailed circular to address tax grievances

To address grievances of taxpayers, the I-T Department Tuesday put in place a detailed framework for 'verification and correction' of the outstanding tax demand, while rectifying the inaccuracies arising due to delayed or non-reporting of TDS (Tax Deduct at Source).

May 19, 2015, 23:22 PM IST

Indirect tax collections up 46.2% in April

Led by over two-fold surge in excise duty collections, indirect tax revenue jumped 46.2 percent to Rs 47,747 crore in April this year compared to the same month last year.

May 12, 2015, 20:31 PM IST

Govt to modify new income tax return forms

Government on Tuesday said it has decided to "modify" the new Income Tax Return (ITR) forms in wake of concerns raised over them.

May 12, 2015, 16:11 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

Government must not be a tax terrorist: Experts

Even as the central government has decided to review the new norms to file income tax returns barely three days after it was notified, due to widespread angst, experts termed the original proposal nothing but "tax terrorism" unleashed on honest tax payers.

Apr 19, 2015, 18:51 PM IST

Govt to review new income tax return forms, make them simple

Government on Saturday announced that new Income Tax Return (ITR) Forms that require disclosure of details regarding bank accounts and foreign trips undertaken by an individual will be reconsidered, a move that comes after criticism from tax experts and others.

Apr 18, 2015, 18:51 PM IST