Free Press Journal
  • Tax dispute cases to see 37% fall: Goyal

    New Delhi : The amount locked up in tax litigation will come down by Rs 5,600 crore as the government has decided to hike the threshold monetary limit to file appeals in tribunals and courts, Finance Minister Piyush Goyal said on Thursday.

  • bombay high court, railway, bmc, hawkers, blame games,mumbai

    Bombay HC allows 25 people to file tax returns without Aadhaar details

    Mumbai: The Bombay High Court on Friday permitted 25 people to file their income tax returns without their Aadhaar card details. A division bench headed by Justice M S Sanklecha was hearing petitions filed by 25 people, including teachers, architects, journalists and activists, seeking a direction to the Central Board of Direct Taxes (CBDT) and the Income Tax department to accept their ITR forms without their Aadhaar card details.

  • Govt to look into fresh Panama Paper leaks

    New Delhi : The government on Thursday said it is looking into fresh findings under the ‘Panama Paper Leaks’ and law enforcement agencies will conduct investigations in appropriate cases.

  • Centre probing fresh cases of ‘Panama Paper Leaks’

    New Delhi, The government on Thursday confirmed that it is looking into the fresh release made in the media today under ‘Panama Paper Leaks‘. This came after media reports highlighted the presence of over a million more documents, out of which over 10,000 were related to Indians. The Central Board of Direct Taxes (CBDT) confirmed that the case is being promptly looked into by the law enforcement agencies under the aegis

  • I-T department fails to recover dues, writes off huge arrears

    Mumbai : Apparently failing to recover massive tax dues from various corporate taxpayers in the country, the Income Tax Department (ITD) has now started “writing off” thousands of crores of tax arrears by such defaulters, according to RTI replies. This, despite the fact that the department is sitting on a pile of Rs 50,000 crore of tax arrears all over India, according to available figures, with the highest — Rs 33,157.97 crore

  • All 7 ITR forms released for e-filing, says Income Tax Department

    New Delhi: The Income Tax Department today launched and activated all the seven ITR forms for e-filing by taxpayers, after more than a month of them being notified. The Central Board of Direct Taxes had notified the new Income Tax Return forms for the assessment year 2018-19 on April 5.

  • ITR-1 ready for e-filing: IT dept

    New Delhi : The latest ITR-1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of the Income Tax Department, a senior official said on Tuesday.

  • ITR-1 form for AY 18-19 available for e-filing

    New Delhi: The latest ITR-1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of the Income Tax Department, a senior official said today. The single Income Tax Return (ITR) form, notified by the CBDT on April 5, has been put on its website, https://www.incometaxindiaefiling.gov.in, yesterday.

  • I-T dept seizes Rs 440 cr Cairn dividend income

    New Delhi : The Income Tax Department has seized a further Rs 440 crore of dividend income due to Cairn Energy to recover a part of the Rs 10,247 crore tax demand it had raised on the British firm using a retrospective tax legislation.

  • Plea in Delhi HC against Aadhaar requirement for e-filing tax returns

    New Delhi: The Delhi Court today sought the Centre’s and tax authority CBDT’s response on a plea opposing the requirement of quoting Aadhaar number or linking it with PAN in e-filing tax returns. The issue was raised before a bench of justices S Ravindra Bhat and A K Chawla by two lawyers, one of them a senior advocate, whose income tax returns were not accepted by the e-filing portal of the Income Tax

  • PAC sub-committee suggests probe of 35 jewellery houses

    New Delhi : A sub-committee of the Public Accounts Committee (PAC) has recommended that the ED and the CBI should probe as many as 35 jewellery houses in the country for misusing the 80:20 gold import scheme launched in 2013, for alleged money laundering, members of the panel said.

  • IT raid cases not to be processed under e-assessment: CBDT

    New Delhi: The soon-to-be rolled out pan India e-assessment system for scrutiny cases of taxpayers will not be applicable to instances where a raid has been conducted against an assessee by the Income Tax (IT) department, the CBDT has said.

  • Bitcoin investors in tight spot as I-T department issues one lakh notices

    New Delhi : The Indian Income Tax Department has issued about one lakh notices to people who have invested in cryptocurrencies, like Bitcoin, and have not declared these in their income tax returns, a top official said on Tuesday. The revelation by Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra at an Assocham event in the capital comes at a time when virtual currencies’ values have been tumbling on worries about