Income Tax Department

I-T dept raids three J-K based businessmen involved in cross-LoC trade with Pakistan

While the statement did not identify those searched, official sources said those raided include Hilal Ahmed, Ghulam Rasool Magray and Ishfaque Dar.

published on : 2nd September 2020

I-T dept to intimate taxpayers under scrutiny about faceless assessment

Under faceless scrutiny assessment, a central computer picks up tax returns for scrutiny based on risk parameters and mismatch and then allots them randomly to a team of officers.

published on : 28th August 2020

I-T department to launch e-campaign for taxpayers who haven’t filed returns

The I-T department will reach out to these taxpayers through SMS or email and can submit a response online to the query of the tax department on the portal.

published on : 20th July 2020

I-T refunds worth Rs 71,229 cr issued to 21.24 lakh taxpayers during April 8-July 11

The Central Board of Direct Taxes (CBDT) further asked taxpayers to provide immediate response to emails of the department for quick processing of their refunds. 

published on : 17th July 2020

Deadline to file income tax returns for 2019-20 extended to November 30

Earlier this week, the I-T department had announced the extension of the deadline for tax saving investments/payments for the financial year 2019-20 to July 31.

published on : 4th July 2020

I-T department amends tax challan to include non-resident e-commerce suppliers for equalisation levy

Its first instalment is due on July 7.The 2 per cent tax would be levied on consideration received by such companies from e-commerce supply or services.

published on : 4th July 2020

CBDT again defers GST, GAAR reporting in income tax audit report till March 2021

Business entities having a turnover of more than Rs 1 crore (or Rs 2 crore if they have opted for presumptive taxation) have to comply with the tax audit requirements.

published on : 27th April 2020

Income Tax department to immediately issue pending refunds up to Rs 5 lakh

The government will also issue pending GST and customs refunds of Rs 18,000 crore to provide relief to business entities.

published on : 8th April 2020

Income Tax Department unearths over Rs 3,500 crore TDS default by oil, telecom firm in Delhi

In the case of the telecom firm, the TDS default amounts to Rs 324 crore.

published on : 4th March 2020

Seven more booked for buying assigned lands

In his complaint, the tahsildar stated that the seven persons who got white ration cards, were found to have misappropriated the government schemes.

published on : 8th February 2020

IT dept serves notice on ministers of first Telangana Cabinet

The Income Tax Department issued notices to the first/previous Telangana State Council of Ministers, who had held offices during the period of 2014 to 2018,

published on : 2nd February 2020

Income Tax department digs deep into MP’s high-profile honey trap racket to track trail of money and its sources

While Sweta Vijay Jain went through marathon six hours statements recording process on Monday, Arti Dayal spent an hour more before the probing IT sleuths on Tuesday.

published on : 14th January 2020

Income Tax department issues tax refunds of Rs 1.57 lakh crore till November: Revenue Secretary

In money terms, the income tax refunds have gone up by 27.2 per cent.

published on : 13th December 2019

Income tax department refunds Rs 1.46 lakh crore-worth returns till November

The Centralised Processing Centre (CPC) processed 4.70 crore tax returns between April and November 2019 as opposed to 3.91 crore returns being processed in the same period a year back.

published on : 4th December 2019

Ongoing I-T raids might lead to hundreds of benami properties of rich and influential people in Bhopal

The IT raid sleuths at the premises of Bhopal-based premier builders Asnani Group and its business associates the three cities of MP and Karnataka have led to seizure of voluminous documents

published on : 18th May 2018
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