income-tax

Mumbai Crime Watch:  Online shark uses IT officer’s FB profile to lure gullible pals

Mumbai Crime Watch: Online shark uses IT officer’s FB profile to lure gullible pals

Scamster asked IT joint commissioner’s FB friends to send Rs 15,000 for an ailing person

Donald Trump: Tax dodger or ‘just smart’?

Donald Trump: Tax dodger or ‘just smart’?

Donald Trump paid just $750 in income tax in the year he was elected US president and in his first year in the White House. In fact, he o...Read More

FinMin says no requirement of scrip-wise reporting for short-term sale or purchase of listed shares

FinMin says no requirement of scrip-wise reporting for short-term sale or purchase of listed shares

The Finance Ministry on Saturday said there is no requirement of scrip-wise reporting in the I-T returns form for day trading or short-te...Read More

Government operationalises 'Faceless Income Tax Appeals' system

Government operationalises 'Faceless Income Tax Appeals' system

The government on Friday issued a notification operationalising 'Faceless Income Tax Appeals' system which seeks to honour honest taxpaye...Read More

Trading in stock? Income tax filing may become a hassle for you

Trading in stock? Income tax filing may become a hassle for you

Taxpayers will have to disclose details of every share sale made by them during the ITR filing in the financial year 2020-2021, as per re...Read More

Madras HC sends notice to AR Rahman for evading income tax on Rs 3.47 crore

Madras HC sends notice to AR Rahman for evading income tax on Rs 3.47 crore

The Income Tax department filed an appeal citing discrepancies in Rahman's tax filing for the year 2011-12.

Supreme Court refuses to stay income tax proceedings against DK Shivakumar

Supreme Court refuses to stay income tax proceedings against DK Shivakumar

The Supreme Court on Thursday refused to stay income tax proceedings against Karnataka Congress chief D K Shivakumar in connection with a...Read More

Income Tax refunds: Rs 88,652 crore issued to 25 lakh taxpayers

Income Tax refunds: Rs 88,652 crore issued to 25 lakh taxpayers

The Income Tax department on Friday said it has issued refunds worth Rs 88,652 crore to over 24 lakh taxpayers so far this fiscal. This i...Read More

Bhopal: I-T teams’ use ‘Covid-19 team welcomes you’ stickers to escape hurdles

Bhopal: I-T teams’ use ‘Covid-19 team welcomes you’ stickers to escape hurdles

Vehicles used by the I-T teams had a sticker over them that said, ‘Government of Madhya Pradesh. The Health Department Covid-19 team welc...Read More

End of tax terror: I-T department launches Regional E-Assessment Centre in Indore

End of tax terror: I-T department launches Regional E-Assessment Centre in Indore

Under the ReAC Indore, 4 Assessment Units are set-up in Bhopal, Jabalpur, Raipur and Bilaspur.

 I-T Department is back after 3 months; to connect with assessees facing probe

I-T Department is back after 3 months; to connect with assessees facing probe

After a gap of three months, the Income Tax (I-T) Department will once again start sending communications to assessees facing investigat...Read More

Faceless I-T e-assessment to
curb harassment and corruption, says CBDT official

Faceless I-T e-assessment to curb harassment and corruption, says CBDT official

In an exclusive interview with Free Press Journal, SK Gupta, Principal Chief Commissioner, Mumbai and CBDT Member explains the implementa...Read More

Centre sees greenshoots in Q1 GST, I-T collection numbers

Centre sees greenshoots in Q1 GST, I-T collection numbers

He said the Revenue Department wants to bring in self-compliance among taxpayers by making available data of all financial transactions v...Read More

Amid Rajasthan turmoil, raids on Chief Minister Ashok Gehlot aides

Amid Rajasthan turmoil, raids on Chief Minister Ashok Gehlot aides

IT & ED check premises in Delhi, Jaipur, Mumbai & Kota over alleged tax evasion

Rajasthan political crisis: Income Tax dept raids homes of Gehlot's aides, hotel that was to accommodate Raj MLAs after Monday meeting

I-T dept raids homes of Ashok Gehlot's aides, hotel that was to accommodate MLAs after Monday meeting

Forty teams comprising 250 individuals are raiding 18 different locations. That is approximately six members per team.

Employees allowed to claim IT exemption on conveyance allowance under new tax regime: CBDT

Employees allowed to claim IT exemption on conveyance allowance under new tax regime: CBDT

The government has allowed individuals under new lower tax regime to claim I-T exemption on conveyance allowance received from employers....Read More

Deadline for filing FY20 Income Tax returns extended to November 30; PAN-Aadhaar linking can be done by March 31, 2021

Deadline for filing FY20 Income Tax returns extended to November 30; PAN-Aadhaar linking can be done by March 31, 2021

Amid the novel coronavirus outbreak, the Centre has yet again extended the last date for the filing of income tax returns for both FY19 a...Read More

Govt amends I-T rules for faster resolution of multinational corporations' tax disputes under MAP

Govt amends I-T rules for faster resolution of multinational corporations' tax disputes under MAP

The Central Board of Direct Taxes (CBDT) has amended Rule 44G dealing with application and procedure for giving effect to MAP agreement, ...Read More

From COVID-19 cess to 40% tax for rich: IRS officers share tips to revive the economy amid lockdown

From COVID-19 cess to 40% tax for rich: IRS officers share tips to revive the economy amid lockdown

Amid the coronavirus outbreak, we are all aware that the several businesses have been severely hit with many even shutting down. And not ...Read More

'Give them Nobel Prize in Economics': Twitterati fume over IRS officers' suggestion to increase income tax to 40%, #IRSjokes trends on Twitter

'Give them Nobel Prize in Economics': Twitterati fume over IRS officers' suggestion to increase income tax to 40%, #IRSjokes trends on Twitter

In a policy paper-cum- recommendation titled Fiscal Options and Response to COVID-19 Epidemic (FORCE)" presented to the PMO and Finace Mi...Read More

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