income tax


I-T Dept Bengal Circle collection up 14 pc to 41K cr in FY18

Apr 19 2018

Direct tax collections of the I-T Department's Bengal Circle rose almost 14 per cent to Rs 41,000 crore in 2017-18 compared to the previous year, a senior official said.

I-T warns salaried class against filing wrong ITRs

Apr 18 2018

I-T dept cautioned salaried class taxpayers against using illegal means like under-reporting of income or "inflating" deductions while filing their returns.

Deal with taxpayers courteously: Income Tax dept to taxmen

Apr 18 2018

The Income Tax Department (ITD) has issued fresh directives, asking them to be courteous when dealing with the taxpayers.

ITR-1 ready for e-filing: Income Tax department

Apr 17 2018

The latest ITR-1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of IT dept, senior official said.

I-T dept seizes Rs 440 cr dividend income of Cairn Energy

Apr 15 2018

"Total recovery in FY 2017-18 comes to Rs 2,700 cr of which the dividend amount is Rs 1,106 cr and recovery by way of refund adjustment is Rs 1,594 cr."

CBDT seeks more transparency in cross-national transactions

Apr 14 2018

The CBDT invited comments from stakeholders and general public on a draft notification that aims to bring greater transparency in cross-national transactions.

MCA's incorporation certificate sufficient proof of PAN/TAN: I-T dept

Apr 14 2018

The Income Tax department said certificate of incorporation issued by the Corporate Affairs Ministry will be considered sufficient proof of PAN or TAN for corporates.

Bank fraud: I-T dept conducts searches on Vadodara firm

Apr 10 2018

I-T dept conducted searches at various premises of DPIL and its promoters, who are accused of cheating various banks to the tune of Rs 2,654 cr.

Pension from ex-employers eligible for Rs 40k standard deduction

Apr 05 2018

Taxpayers who receive pension from their former employers are eligible to claim standard deduction of Rs 40,000, Income Tax department said.

CBDT forms committee to study cases of HNIWs escaping abroad

Apr 05 2018

The CBDT has formed a committee to study cases of HNIWs escaping abroad and prepare an action plan for due revenue to be extracted from them.

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