• Tag results for Income Tax Department

Income tax department has no mechanism to ensure real estate firms file returns: CAG

According to a report, the I-T Department is not utilising other third-party data or surveys to widen its tax base in the real estate sector.

published on : 12th February 2019

I-T seizes over 600 carats of diamonds

The raids also revealed that  money was being paid in aggregation of land parcels through the real estate firms.

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

Three properties of ex-Bihar CM Rabri Devi, daughter seized

The IT department acted after Rabri Devi and her daughter failed to explain the source of the properties which had been donated to them by RJD chief Lalu Prasad's domestic helps in 2014.

published on : 31st January 2019

IT raids continue for second day in Chennai's Saravana Stores

Raids were conducted at several locations. However, officials refused to give details on how many places the raids are continuing.

published on : 30th January 2019

Income tax department begins examining property transactions made after demonetisation

The decision follows a note from the CBDT chairman addressed to all IT offices asking them to pull up their socks since tax collection was still trending below budget expectations.

published on : 22nd January 2019

IT Department to issue notice for cash transactions above Rs 20,000 in property purchase

The Delhi division of Income Tax Department has said that the seller will be asked to pay the penalty of an equal amount if he has accepted cash above Rs 20,000.

published on : 19th January 2019

Madras High Court impleads I-T dept to find out assets of Jayalalithaa

A single judge had rejected the claim of suppression of facts and hence, the present appeal.

published on : 2nd January 2019

Delhi HC dismisses Vodafone plea for a tax refund of over Rs 4759 crore

Earlier, the telecom major had claimed for a refund of over Rs 4,759 crore in respect of returns filed for the assessment years (AYs) 2014-15 to 2017-18.

published on : 16th December 2018

Income Tax department does away with mandatory quoting of father's name for PAN applications

Currently, furnishing father's name is mandatory for the allotment of Permanent Account Number (PAN). The new rules would come into effect from December 5.

published on : 20th November 2018

I-T Department confiscates Jacob Thomas’ land in Tamil Nadu

According to officers, Thomas bought the land in a benami transaction. The land was bought from 33 persons through their power of attorney in 2001.

published on : 25th October 2018

IT Department raids several mineral export firms in Tamil Nadu, Andhra Pradesh

One of the firms identified by ITD officials is V V minerals of Tamil Nadu.

published on : 25th October 2018

IT department raids premises of  'The Quint' founder Raghav Bahl

Bahl is the founder of the Quint news portal and the Network18 group and is a known media entrepreneur.

published on : 11th October 2018

D K Shivakumar tries to drum up colleagues’ support over breakfast meeting

Shivakumar, according to his associates, is attempting to bridge the gap between the ministers and Chief Minister H D Kumaraswamy.

published on : 5th October 2018
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