income-tax department

IT dept introduces new TDS rules; here's how much tax will be deducted on cash withdrawals from bank

IT dept introduces new TDS rules; here's how much tax will be deducted on cash withdrawals from bank

In order to discourage cash transactions and increase tax compliance, the income tax department has amended TDS rules.In the 2019-20 budg...Read More

TDS, TCS rates reduced by 25%: Here's a revised list of rates issued by Income Tax department

TDS, TCS rates reduced by 25%: Here's a revised list of rates issued by Income Tax department

Tax deducted on payment of dividend, insurance policy, rent, professional fee and on the acquisition of immovable property has been cut b...Read More

'Young' IRS officer left red-faced after Fin Min disowns Income Tax recommendations - the story so far

'Young' IRS officer left red-faced after Fin Min disowns Income Tax recommendations - the story so far

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

From PAN-Aadhaar link to tax saving investment: Here are financial deadlines in March 2020 you ought to know

From PAN-Aadhaar link to tax saving investment: Here are financial deadlines in March 2020 you ought to know

If you do not meet the deadlines you may have to shell out enormous amount of penalties

Mumbai: Income Tax department prepares list of PSUs to resolve settlement dispute under Vivad se Vishwas Scheme

Mumbai: Income Tax department prepares list of PSUs to resolve settlement dispute under Vivad se Vishwas Scheme

Sources also said that in case of CPSUs, the income tax department had calculated tax demands that went up to Rs 1.57 lakh crore

Not linked Aadhaar-PAN card yet? You may have to pay Rs 10,000 as a penalty: Know more

Not linked Aadhaar-PAN card yet? You may have to pay Rs 10,000 as a penalty: Know more

The deadline to link your Aadhaar and PAN card is on March 31

Dharma, Balaji Telefilms and other production houses come under Income Tax scanner

Dharma, Balaji Telefilms and other production houses come under Income Tax scanner

Big Production houses including Balaji Telefilms, Dharma Productions, Maddock and others have come under the Income Tax Department scanne...Read More

What happens if you don't link PAN with Aadhaar before March 31?  Here's all you need to know

What happens if you don't link PAN with Aadhaar before March 31? Here's all you need to know

As per the IT department, over 30.75 crore PAN had been linked to Aadhaar as on January 27 and nearly 17.58 crore are yet to be linked

Under foreign black money law: 422 cases involve Rs 12,000 cr

Under foreign black money law: 422 cases involve Rs 12,000 cr

The Income Tax department has issued notices under foreign black money law in 422 cases involving undisclosed assets and income of over R...Read More

Black money in foreign travel: I-T dept to keep check

Black money in foreign travel: I-T dept to keep check

Attack on corruption in union budget.

Income Tax Department launches e-calculator to compare due tax under new, old regime

Income Tax Department launches e-calculator to compare due tax under new, old regime

The calculator, launched earlier in the day, was updated by the department in the evening to make it more "user friendly".

Nirav Modi's seized paintings auction: Grab them if you can

Nirav Modi's seized paintings auction: Grab them if you can

FRANCIS H D'SA lists the gems from fugitive Nirav Modi’s seized artworks that are up for auction

Income Tax calendar for 2020: Know all the important dates to avoid penal consequences

Income Tax calendar for 2020: Know all the important dates to avoid penal consequences

Keeping these dates in mind or marking them on your calendars will help you to avoid penal consequences of late filing of income tax retu...Read More

Tax department rolls back order

Tax department rolls back order

New Delhi: Rolling back its week old order, the Income Tax Department on Thursday allowed joint owners of single house property to file i...Read More

I-T dept draws list of defaulters: Rs 155 crore advance tax unpaid in MP & Chhattisgarh

I-T dept draws list of defaulters: Rs 155 crore advance tax unpaid in MP & Chhattisgarh

Scheme’s objective is to offer amenity to tax payers against whom the department has moved court.

EC Ashok Lavasa's family evaded stamp duty, alleges IT dept; Lavasa denies allegations

EC Ashok Lavasa's family evaded stamp duty, alleges IT dept; Lavasa denies allegations

Reports by the IT Department showed that the Gurgaon property was transferred to Shankuntala Lavasa, Ashok Lavasa's sister.

Mandatory to link PAN-Aadhaar by Dec 31: I-T Dept

Mandatory to link PAN-Aadhaar by Dec 31: I-T Dept

New Delhi: It is mandatory to link your PAN with Aadhaar by the end of this year, the Income Tax Department said in a public message on S...Read More

IT dept sends Rs 250 crore tax notice to UP Housing and development board

IT dept sends Rs 250 crore tax notice to UP Housing and development board

The Income tax department has sent Rs 250 crore tax notice to the UP Housing and development board.This comes after Uttar Pradesh Deputy ...Read More

Indore: I-T dept offers prosecution amnesty scheme

Indore: I-T dept offers prosecution amnesty scheme

Likely to help marginal tax payers. Dec 31 last date for getting benefit.

Bhopal: I-T team survey gives jitters to BMC staff

Bhopal: I-T team survey gives jitters to BMC staff

There were complaints of irregularities in figures of TDS of the current year in comparison to last year.

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