 | Income Tax refunds worth Rs 1.36 lakh crore issued to 41.25 lakh taxpayers till November 24This includes personal income tax (PIT) refunds amounting to Rs 36,028 crore and corporate tax refunds of over Rs 1 lakh crore during this period. |
 | Tax sleuths find Rs 1000 crore unaccounted income after raids on Chennai-based IT infra groupSleuths of the income tax department, who conducted searches on Wednesday, also unearthed evidence relating to investments in a Singapore registered company |
 | I-T refunds worth Rs 1.29 lakh crore issued to 39.49 lakh taxpayersThis includes Personal Income Tax (PIT) refunds amounting to Rs 34,820 crore and corporate tax refunds aggregating to Rs 94,370 crore during this period. |
| I-T Department detects Rs 75-crore 'unaccounted income' after raids on Bihar contractors, tradersAs much as Rs 3.21 crore cash has been seized during the raids, while fixed deposits of Rs 30 crore have been placed under prohibitory orders. |
 | Private sector, state government, PSU employees eligible for I-T exemption under LTC cash voucher schemeThe employees have to exercise an option for the deemed LTC fare in lieu of the applicable LTC in the Block year 2018-21. |
 | I-T department busts Rs 500 crore fake bill entry racket from five statesAlso found were Rs 2.37 crore cash and jewellery worth Rs 2.89 crore has also been found along with 17 bank lockers, which are yet to be operated, it said. |
 | Sasikala's assets worth Rs 2,000 crore seized by Income Tax departmentThe assets were attached by the Benami Prohibition wing of the Income Tax Department. Sasikala, Ilavarasi and Sudhakaran are serving a four-year sentence in a disproportionate assets case. |
 | Madras High Court issues notice to music composer AR Rahman over alleged tax evasionThe allegation is that the money had been transferred to the AR Rahman Foundation, which did not have a Foreign Contribution Regulation Act (FCRA) licence then |
 | I-T dept raids three J-K based businessmen involved in cross-LoC trade with PakistanWhile the statement did not identify those searched, official sources said those raided include Hilal Ahmed, Ghulam Rasool Magray and Ishfaque Dar. |
 | Income tax department authorities can share info with scheduled commercial banks: CBDTCBDT is the apex tax body on personal income tax and corporate tax. Section 138 of the Income Tax Act empowers income tax authorities to share information/ details of its taxpayers with other agencies |
| I-T dept to intimate taxpayers under scrutiny about faceless assessmentUnder 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. |
 | I-T department to launch e-campaign for taxpayers who haven’t filed returnsThe 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. |
| I-T refunds worth Rs 71,229 cr issued to 21.24 lakh taxpayers during April 8-July 11The Central Board of Direct Taxes (CBDT) further asked taxpayers to provide immediate response to emails of the department for quick processing of their refunds. |
 | I-T Department asks taxpayers to verify ITRs for AYs 2015-16 to 2019-20 by September 30A taxpayer filing Income Tax Returns electronically without digital signature has to verify it using either Aadhaar one-time password. |
 | Deadline to file income tax returns for 2019-20 extended to November 30Earlier 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. |
