Gross direct tax revenue grows 25 per cent till January 10

Gross direct tax collections up to January 10, 2023, rose 24.6% year-on-year to Rs 14.71 lakh crore, as per data from the Central Board of Direct Taxes (CBDT).

published on : 12th January 2023

CBDT extends deadline for filing TDS for non-salary transactions till Nov 30

It includes payments on account of interest on securities, dividends, winning from lotteries and crossword puzzles, rent, interest other than interest on securities, and fees for professional services

published on : 27th October 2022

FinMin extends ITR filing date for companies  till November 7

Meanwhile the due date for the companies, which are subject to transfer pricing norms, will remain same as November 30, 2022.

published on : 27th October 2022

Govt extends deadline for filing tax audit report till October 7

Under the income tax act, those taxpayers who need to get their accounts audited by a chartered accountant are required to file the tax audit report with the I-T department by September 30.

published on : 1st October 2022

CBDT to launch campaign from Octobert 2 to clear pending cases

The Central Board of Direct Taxes (CBDT) will launch a special campaign from 2 October for redressal of taxpayers’ grievances, its chairman Nitin Gupta said on Tuesday.

published on : 28th September 2022

RBI Board reviews current economic situation, impact of geopolitical crises 

The Board also discussed various areas of operations of the Reserve Bank, including the functioning of the local boards and activities of select central office departments, the central bank said.

published on : 26th August 2022

I-T department seizes Rs 56 crore cash, Rs 14 crore worth jewellery during raids in Maharashtra

The stash of cash and jewellery was kept in more than 30 accounts of a cooperative bank and inside an undisclosed chamber of a farmhouse.

published on : 11th August 2022

I-T seizes 'black' assets of over Rs 9 crore after raids on MP mining, liquor group

The raids were launched on July 14 on the premises of the group located in the state and some in Mumbai.

published on : 10th August 2022

Black income of 'over Rs 200-crores' detected in I-T raids on TN film producers, financiers: CBDT

Tax evasion has been found as the actual amounts realised from the release of the films are much more than the amounts shown in the regular books of account.

published on : 6th August 2022

I-T department alleges business, tax irregularities against Dolo-650 maker

The claims came after the Income Tax department had on July 6 raided 36 premises of Bengaluru-based Micro Labs Ltd. across nine states.

published on : 13th July 2022

I-T detects unaccounted income worth Rs 200 crore after multiple raids in Chhattisgarh

The modus-operandi followed by the group included unfair regular collections on coal transportation throughout the state, leading to generation of huge unaccounted income.

published on : 5th July 2022

Government keeps vouchers, gift, loyalty cards out of crypto tax ambit

Apart from these, subscriptions to websites or platforms or applications will also be excluded from VDAs.

published on : 2nd July 2022

Tax deduction for crypto, digital assets; Central Board of Direct Taxes issues notification 

According to new guidelines, to avoid deduction of tax of digital assests at multiple stages, tax may be deducted only by the exchange which is crediting or making payment to the seller.

published on : 23rd June 2022

CBDT notifies TDS disclosure requirements for cryptocurrencies, virtual digital assets

CBDT has notified that the TDS collected under Section 194S shall be deposited within 30 days from the end of the month in which the deduction has been made.

published on : 22nd June 2022

Number of income tax returns rose for FY 2022: CBDT chairman Sangeeta Singh

Singh said that the number of income tax returns last fiscal was 7.14 crore against 6.9 crore in the preceding financial year, showing a clear growth.

published on : 11th June 2022

CBDT asks tax officers to not issue reassessment notices for 3 years till FY15

Central Board of Direct Taxes (CBDT) asked tax officers to give taxpayers two weeks' time to respond to such notices, which can be further extended at taxpayers' request in genuine cases.

published on : 12th May 2022

PAN or Aadhaar mandatory for deposits and withdrawals above Rs 20 lakhs

"The mandatory condition of obtaining PAN for deposits and even for withdrawals would help the government in tracing the movement of cash in the system."

published on : 11th May 2022

1986-batch IRS-IT officer Sangeeta Singh given additional charge of CBDT chairperson

She is currently serving as the Member (Income Tax and Revenue) and is also holding the additional charge of Member (Tax Payer Services) in the CBDT.

published on : 1st May 2022

I-T dept detects cash transactions of Rs 3000 crore after raids on Omaxe group

The search action covered more than 45 premises in Delhi NCR, Chandigarh, Ludhiana, Lucknow and Indore.

published on : 23rd March 2022

Working to improve tax literacy in country for widening taxpayer net: CBDT chairman JB Mohapatra

The CBDT chief was asked about the steps being taken by the taxman to widen and deepen the tax base in the country given that the department recorded its highest-ever direct tax collections.

published on : 20th March 2022
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