income tax

Income Tax refunds worth Rs 1.36 lakh crore issued to 41.25 lakh taxpayers till November 24

This 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.

published on : 25th November 2020

I-T raids against cattle feed producer lead to seizure of Rs 52 lakh jewellery, Rs 121 crore blackmoney

The CBDT said the directors of these shell companies are dummy, non-filers and individuals of no means.

published on : 20th November 2020

No extra compliance burden on taxpayers for GST turnover displayed in Form 26AS

The DoR said that the notified Income Tax Return for the current AY 2020-21 already requires reporting of GST outward supplies in the Schedule GST.

published on : 16th November 2020

Undisclosed income of Rs 500 crore unearthed during raids on Chennai gold dealer

An Income Tax department spokesperson said that during searches, the sleuths unearthed evidence including unaccounted stock maintained by the assessee at various places

published on : 12th November 2020

Tax sleuths find Rs 1000 crore unaccounted income after raids on Chennai-based IT infra group

Sleuths of the income tax department, who conducted searches on Wednesday, also unearthed evidence relating to investments in a Singapore registered company

published on : 7th November 2020

I-T refunds worth Rs 1.29 lakh crore issued to 39.49 lakh taxpayers

This 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.

published on : 4th November 2020

Tax payers generate 4.95 crore e-invoices in first month: Government

Besides e-invoices, 6.41 crore e-way bills were generated in October which was highest in any month since the launch of the service.

published on : 2nd November 2020

I-T Department detects Rs 75-crore 'unaccounted income' after raids on Bihar contractors, traders

As 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.

published on : 30th October 2020

Finance ministry clarifies on income tax returns filing deadline extention for corportates

The government had earlier in May extended various due dates for filing ITRs for the 2019-20 fiscal from July 31 to November 30.

published on : 30th October 2020

Private sector, state government, PSU employees eligible for I-T exemption under LTC cash voucher scheme

The employees have to exercise an option for the deemed LTC fare in lieu of the applicable LTC in the Block year 2018-21.

published on : 30th October 2020

I-T team searches DMK functionary’s house, party calls it political vendetta

As part of the State-wide operation, Income Tax Department officials carried out searches in various places in the western districts.

published on : 29th October 2020

I-T department seizes Rs 62-crore cash after raids on hawala operatives 

They alleged that the money is unaccounted and has been seized from various premises including those belonging to a person identified as Sanjay Jain.

published on : 28th October 2020

I-T department busts Rs 500 crore fake bill entry racket from five states

Also 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. 

published on : 28th October 2020

Facing I-T raids, onion traders in Maharashtra's Nasik stop auction 

According to the traders, the central agencies are accusing them for the spike in onion prices.

published on : 28th October 2020

I-T raids hawala operatives across Delhi, Goa, other states

The searches were carried out on Monday at 42 premises in Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa, it said.

published on : 27th October 2020
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