Sep 12, 2021 03:51 PM IST
Personal income tax refunds of Rs 16,753 crore have been issued in over 24.70 lakh cases and corporate tax refund of Rs 53,367 crore have been issued in 1.38 lakh cases.
- Feb 05, 2021 09:16 PM IST
The 26 AIS would not only serve as a checklist for a taxpayer in filing returns but would also enhance the tax base, Mody said.
- Jan 12, 2021 09:27 PM IST
This portal will be available on the website of the Department to receive any possible complaints of tax evasion, foreign undisclosed assets and complaints regarding benami properties.
- Nov 07, 2020 08:09 PM IST
"The shareholding of this company is held by two companies, one owned by the group searched while the other company is a subsidiary of a major infrastructure development and financing group,” the CBDT said.
- Sep 24, 2020 08:47 PM IST
Mody's blood has also been tested, apart from oxygen saturation. Lungs specialists are monitoring his health, Agarwal said.
- Sep 16, 2020 07:41 PM IST
The tax refunds includes personal income tax (PIT) refunds amounting to Rs 31,741 crore issued to 29.17 lakh taxpayers and corporate tax refunds worth Rs 74,729 crore to over 1.74 lakh taxpayers.
- Sep 01, 2020 05:10 PM IST
In a notification dated August 31, the Central Board of Direct Taxes (CBDT) included 'scheduled commercial banks', listed in the second schedule of the Reserve Bank of India Act, 1934, under Section 138 of Income Tax Act for sharing of information.
- Aug 27, 2020 07:10 AM IST
This include personal income tax refunds amounting to Rs 29,361 crore issued to 23.91 lakh taxpayers and corporate tax refunds amounting to Rs 66,493 crore to over 1.63 lakh taxpayers during this period.
- Aug 21, 2020 10:41 AM IST
Corporate tax refunds amounting to Rs 60,472 crore were issued to over 1.58 lakh taxpayers this fiscal, the Income Tax Department said.
- Aug 16, 2020 05:36 PM IST
All the functions would be through electronic means for which the NeAC will be the gateway and will function as such for all the flow of information.
- Jul 21, 2020 01:36 PM IST
PC Mody hopes for lower litigations now as the faceless assessment system will eliminate bias, vested interest and individual subjective discretion of tax officers.
- Jul 13, 2020 08:52 PM IST
The Central Board of Direct Taxes (CBDT) in an order said that a large number of electronically filed ITRs still remain pending with the IT Department for want of receipt of a valid ITR-V (Verification) form at Centralised Processing Centre (CPC), Bengaluru from the taxpayers concerned.
- Jun 30, 2020 07:40 PM IST
The Central Board of Direct Taxes (CBDT) through a notification said the exemptions would come into effect from April 1, 2020, and shall be applicable for the assessment year 2020-21 and thereafter.
- May 22, 2020 03:52 PM IST
Income tax refunds amounting to Rs 14,632 crore have been issued to over 15.8 lakh assessees and corporate tax refunds to the tune of Rs 11,610 crore issued to over 1 lakh assesses.
- May 07, 2020 08:40 PM IST
MAP is an alternative dispute resolution process under the tax treaties, under which competent authorities of two countries enter into discussions to resolve tax-related disputes. As many as 600 tax disputes were resolved under MAP between April 1, 2014, and December 31, 2018.
- Apr 17, 2020 10:10 PM IST
In a statement, the CBIC said it has processed 7,873 refund claims worth Rs 3,854 crore last week to facilitate trade and industry so that their refund claims are processed faster.
- Mar 31, 2020 04:40 PM IST
The Central Board of Direct Taxes (CBDT) in its order gave a major relief to taxpayers whose application for lower or nil deduction of TDS/TCS is pending for disposal
- Feb 04, 2020 09:04 PM IST
In a statement, the Central Board of Direct Taxes (CBDT) said queries have been raised if mutual fund would be required to deduct TDS also on the capital gains arising on redemption of units.
- Nov 14, 2019 09:52 PM IST
The search and survey operation was started at 44 locations in Mumbai and Surat on November 6, on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly in Brihanmumbai Municipal Corporation (BMC), it said.
- Nov 14, 2019 08:36 PM IST
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
- Oct 11, 2019 09:49 PM IST
The Central Board of Direct Taxes on October 11 released time-series data updated up to fiscal year 2018-19 and income-distribution data for AY 2018-19 (fiscal year 2017-18).
- Jul 26, 2019 09:33 PM IST
The assessing officers (AOs) of the Income Tax Department had earlier this month petitioned the Central Board of Direct Taxes (CBDT) to extend the deadline, saying it was 'humanly impossible' to finish the task by July as it requires a lot of 'paperwork and manpower'.
- Jun 24, 2019 09:25 PM IST
Mody said the figures of pending cases are a cause of "serious concern and point to a lackadaisical attitude in the effective redressal of the grievance by the concerned authority."
- Jun 04, 2019 09:32 PM IST
The Central Board of Direct Taxes (CBDT) in a statement said with a view to redress genuine hardship of deductors in timely filing of TDS statement on account of revision of its format and consequent updating of the file validation utility for its online filing, the deadline is being extended.
- May 21, 2019 07:38 PM IST
The apex direct tax body has invited inputs from stakeholders and the general public on the draft notification.