50,000 accounts under lens for dubious transactions during demonetisation

The official told TNIE that during preliminary enquiry, none from the list gave satisfactory explanations for the high-value transactions.

published on : 23rd April 2019

I-T detects Rs 281 crore racket of slush funds from Kamal Nath aides; recovers Rs 14.6 crore in cash

A portion of the cash had been transferred to the headquarters of 'a major political party in Delhi', the Income Tax department said.

published on : 8th April 2019

Direct tax collection falls short, CBDT raises alarm

Till March 26, direct tax collection was Rs 10.29 lakh crore, which is 12.5 per cent up compared to the same period a year ago.

published on : 28th March 2019

CBDT chief Sushil Chandra appointed Election Commissioner

Chandra, an IIT graduate, is a 1980 batch officer of the Indian Revenue Service (Income Tax cadre).

published on : 14th February 2019

CBDT chief Sushil Chandra says more relief on way for start-ups on angel tax

There’s more relief on way for start-ups as the income-tax department will soon decide on the kind of start-ups that can be exempted from angel tax.

published on : 8th February 2019

Ahead of March 31 deadline, just 50 percent of country's PAN cards linked with Aadhaar

According to CBDT chairman Sushil Chandra, the Income Tax department has issued 42 crore permanent account numbers.

published on : 7th February 2019

IT assessments won't require taxpayer to face exciseman in few years: CBDT

As part of the government's simplification procedures, in two years the taxpayer doesn't need to face the taxman with assessees will be provided pre-filled return forms.

published on : 3rd February 2019

Government eases process to seek tax exemption on angel fund investments for startups

Following a request by startup companies on the issue of angel tax, the CBDT may exempt a startup from the tax after the DIPP finds one eligible.

published on : 17th January 2019

Income Tax Returns filing up by 50% so far this year: CBDT chairman

Hailing this as an effect of demonetisation, Central Board of Direct Taxes chairman Sushil Chandra said that the revenue department expects tx filing worth Rs 11.5 lakh crore.

published on : 4th December 2018

Number of crorepatis in India has risen by 60 per cent in last four year: CBDT

Number of taxpayers earning more than Rs 1 crore annually has risen to over 1.40 lakh.

published on : 22nd October 2018

Apex court dismisses appeals with low-value tax effects  

The circular stated that pending appeals or special leave petitions should be withdrawn on priority to enable the department to focus on high-value litigations.

published on : 8th October 2018

Deadline for linking Aadhaar with PAN extended to March 31, 2018

The government is expected to notify extensions in deadlines for Aadhaar linking with bank accounts and other services soon.

published on : 8th December 2017