Income Tax

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

The unease of doing business in India amid raid Raj

All the talk about Ease of Doing Business has come to be seen as a farce as the government’s raid raj is rearing its head again.

published on : 2nd May 2022

Daily wager gets IT department notice for tax evasion

Identity of many others forged by miscreants to commit GST fraud

published on : 19th April 2022

Now is time to relook at your tax planning

Changes in tax laws, income/expenses and salary structure are reasons you must review your tax plans every year

published on : 11th April 2022

Company does not die upon amalgamation, transferee firm can be fastened with I-T liability: SC

The bench dealt with the concept of amalgamation in its judgement and said it was unlike the winding up of a corporate entity.

published on : 5th April 2022

Taxpayers will need to disclose Interest on PF account in Income Tax Return

The taxpayers will have to make additional disclosures in the Income Tax Return (ITR) forms as the government on Friday notified the ITR form 1-6.

published on : 2nd April 2022

I-T dept claims Hero Motocorp made bogus expenses of Rs 900 crore

Expenditure aggregating to more than Rs 800 crore has been booked in the guise of purchase of services from a specific event management entity.

published on : 1st April 2022

I-T department detects multiple irregularities after raids on Hero Motocorp, others

The raids were launched on March 23, and the country's largest two-wheeler maker had then said it was extending full cooperation to the tax authorities.

published on : 31st March 2022

PAN to become inoperative after March 2023 if not linked to Aadhaar

CBDT, which is the apex decision making body on direct taxes, has extended the deadline for linking PAN with Aadhaar many times and the last date now is March 31, 2022.

published on : 30th March 2022

Hero MotoCorp denies Income Tax report of Rs 1000 crore bogus expenses

A large number of incriminating evidence is reported to have been seized by the I-T Dept during search operations.

published on : 30th March 2022

Income Tax department​ raids Hero Motorcorp, chairman Pawan Munjal's premises

Offices and residential premises of the promoters including chairman and CEO of the group Pawan Munjal in Gurugram, Haryana, Delhi and few other locations are being covered.

published on : 23rd March 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

Income Tax department searches Hiranandani group premises; question of 'undisclosed foreign assets'

The income tax department has confirmed that raids were being conducted at the premises of Hiranandani, but refused to give more details about it.

published on : 23rd March 2022

Crypto mining cost not to be allowed as deduction under I-T Act: FinMin 

In a written reply to the Lok Sabha, Chaudhary said the government will come out with a definition of virtual digital assets (VDA) with a view to levy 30 per cent tax on income from the transfer of su

published on : 21st 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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