Demonetisation impact: Nine lakh accounts under Operation Clean Money 'doubtful'
Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.
Feb 16, 2017, 17:27 PM IST
I-T dept to scrutinise tax relief claims by sick companies
The I-T Department has asked Assessing Officers to scrutinise tax relief being claimed by sick companies as part of the rehabilitation scheme approved by the BIFR.
Feb 15, 2017, 15:58 PM IST
Online I-T grievance redressal facility launched at 60 offices
After launching the ambitious e-nivaran facility for online redressal of taxpayers' grievances, the Income Tax Department has now opened these windows at its 60 special offices across the country.
Feb 15, 2017, 15:25 PM IST
Govt focus on clean economy, bold decisions: FM Jaitley
The Modi government's emphasis is on bold decision making and a clean economy with business friendly environment, the returns of which can be spent on the poor, Finance Minister Arun Jaitley said on Monday.
Feb 13, 2017, 19:30 PM IST
Operation Clean Money: Over 5.27 lakh taxpayers respond to I-T dept query on cash deposits
Out of the 7.41 lakh accounts confirmed by the 5.27 Lakh taxpayers, the cash deposit amount has been confirmed in more than 99.5 percent accounts.
Feb 13, 2017, 19:21 PM IST
No decision yet on imposing tax on cash transactions: Govt
The government has not taken any decision on levying a Banking Cash Transaction Tax (BCTT) on cash deals of Rs 50,000 and above as suggested by the high- powered Chief Ministers' panel, Economic Affairs Secretary Shaktikanta Das said on Thursday.
Feb 09, 2017, 14:57 PM IST
CBDT issues certificates of appreciation to nearly 3.74 lakh tax payers
The total number of certificates issued by CBDT now stands at approximately 23 lakh.
Feb 08, 2017, 13:18 PM IST
Tax officers to maintain digital records of summons, notices
Reducing discretionary powers of taxmen, the income tax department has asked its field officers to maintain digital records of summons, notices and special audit ordered by them.
Feb 08, 2017, 12:50 PM IST
HSBC, ICIJ list: I-T dept detects Rs 16,200 crore black money
Over Rs 16,200 crore in black money has been detected by the government after investigations on global leaks about Indians stashing funds abroad, Parliament was informed Tuesday.
Feb 07, 2017, 18:52 PM IST
CBDT signs 4 more advance pricing pacts with tax payers
The CBDT expects more APAs to be concluded and signed before the end of the current fiscal.
Feb 07, 2017, 13:16 PM IST
Arun Jaitley defends surcharge levy, says rich must pay more
Finance Minister Arun Jaitley Friday justified levy of 10 percent surcharge on rich saying the resources in a largely non-tax compliant society will have to come from the more affluent.
Feb 03, 2017, 22:46 PM IST
I-T department to question 18 lakh tax-payers, scan deposits of over Rs 5 lakh: Hasmukh Adhia
Hasmukh Adhia. Watch the full segment for more details.
Feb 02, 2017, 23:59 PM IST
Congress government saw traders as 'tax evaders': BJP
The BJP on Thursday attacked the Congress for opposing the Union Budget and suspecting traders to be "tax evaders" and said the Narendra Modi-led government at the Centre respects the traders.
Feb 02, 2017, 18:54 PM IST
I-T dept asks taxpayers to e-verify deposits post demonetisation
As the Income Tax Department uses Big Data to catch evaders, it is asking taxpayers to verify online the deposits they made in their accounts post demonetisation and respond to queries of any mismatch.
Feb 02, 2017, 16:09 PM IST
Budget 2017: 3-year tax holiday for start-ups in first 7 years of existence
Relief in tax for startups for seven years. Watch this special segment and get to know more here.
Feb 01, 2017, 15:59 PM IST
GAAR to be implemented from April 2017
GAAR to be implemented from April 2017. Watch this special segment and get to know more here.
Jan 27, 2017, 23:21 PM IST
Budget 2017: Arun Jaitley may cut taxes to spur growth; likely to raise income tax exemption slabs
As Finance Minister Arun Jaitley presents the Union Budget 2017 next week, he will be faced with the challenge of lowering tax in order to spur growth following the slump in demand after the demonetisation move.
Jan 27, 2017, 20:15 PM IST
GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT
GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.
Jan 27, 2017, 19:31 PM IST
GAAR to be effective from April 1, 2017: CBDT
Addressing investors' concerns ahead of GAAR implementation from April 1, the tax department today said it will not interplay with their right to choose a method of transaction and won't apply if routing of funds through a jurisdiction is "based on non-tax commercial considerations".
Jan 27, 2017, 18:13 PM IST
Cash deposits above Rs 10 lakh in bank account to come under I-T lens
The tax department has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.
Jan 19, 2017, 16:09 PM IST
