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  • COVID-19 Second Wave: Centre extends timelines of certain I-T compliances due to pandemic May 01, 2021 02:59 PM IST

    COVID-19 Second Wave: Centre extends timelines of certain I-T compliances due to pandemic

    The government has extended timelines of certain compliances, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic, a circular from the CBDT said.

  • Revenue Department unearths Rs 8,200-crore tax evasion, illiquid options trading scam on BSE Oct 19, 2020 11:51 AM IST

    Revenue Department unearths Rs 8,200-crore tax evasion, illiquid options trading scam on BSE

    I-T Department, SEBI also involved in the probe. Syndicate of share brokers and entry operators said to be behind these dealings. I-T Dept searches 22 brokerage houses in major cities. West Bengal said to be the hub. Department submits an initial report to SEBI for further investigations

  • Pre-filled I-T forms with capital gains for quick tax filing process likely: Report Feb 06, 2020 12:23 PM IST

    Pre-filled I-T forms with capital gains for quick tax filing process likely: Report

    Sources said work has already begun on implementing the changes in the next few months itself.

  • 3.4 lakh investors suspected to have not reported gains, I-T backs LTCG tax: Report Jan 29, 2020 09:30 AM IST

    3.4 lakh investors suspected to have not reported gains, I-T backs LTCG tax: Report

    Sales value of the unreported transactions was computed at Rs 99,000 crore, while value of the under-reported transactions exceed Rs 4 lakh crore

  • I-T Department probing fraudulent F&O brokers, beneficiaries Dec 05, 2019 10:55 AM IST

    I-T Department probing fraudulent F&O brokers, beneficiaries

    Searches were conducted in Kolkata, Mumbai, Hyderabad, Delhi, Ahmedabad and Jaipur after the I-T intelligence and criminal cell detected illiquid option trades

  • Exclusive | Total direct tax collections for FY18-19 fall short by Rs 83,000 crore Apr 02, 2019 09:55 PM IST

    Exclusive | Total direct tax collections for FY18-19 fall short by Rs 83,000 crore

    Corporate tax collection during 2018-19 totalled Rs 662,748 crore while income tax amounted to Rs 442,170 crore. STT collection was 11,527 crores, latest data until April 1 showed.

  • I-T dept seizes Rs 992.5-crore assets in FY18 Dec 28, 2018 04:58 PM IST

    I-T dept seizes Rs 992.5-crore assets in FY18

    The value of assets seized during the past two financial year is Rs 1,469.62 crore in 2016-17 and Rs 992.52 crore in 2017-18.

  • Software service export grew by 10.3 percent in 2016-17 Dec 09, 2017 11:46 AM IST

    Software service export grew by 10.3 percent in 2016-17

    The export of software services excluding the one through commercial presence was $ 88 billion in 2015-16

  • Government admits Aadhaar was a 'great initiative of Congress regime' Mar 29, 2017 08:25 PM IST

    Government admits Aadhaar was a 'great initiative of Congress regime'

    Admitting that Aadhaar was a "great initiative" of the previous UPA government, Finance Minister Arun Jaitley today said it was being expanded by making it mandatory for direct benefit transfer of subsidy and checking of tax evasion.

  • Note ban black money disclosure scheme may achieve less than half the target: I-T sources Mar 23, 2017 09:08 PM IST

    Note ban black money disclosure scheme may achieve less than half the target: I-T sources

    According to officials, the declarants want more time to submit the money they declared under the scheme.

  • Nine lakh accounts under Operation Clean Money 'doubtful' Feb 16, 2017 04:52 PM IST

    Nine lakh accounts under Operation Clean Money 'doubtful'

    Under 'Operation Clean Money', the I-T department had sent SMS and e-mails to 18 lakh people, who according to its data analysis had made suspicious deposits of over Rs 5 lakh during the 50-day window provided to get rid of old 500 and 1,000 rupee notes following the demonetisation decision announced on November 8.

  • Bogus long-term capital gains by shell cos at Rs 80,000 cr: CBDT Feb 04, 2017 04:08 PM IST

    Bogus long-term capital gains by shell cos at Rs 80,000 cr: CBDT

    The tax department said the levy of long-term capital gains tax on share transfer in unlisted companies is an anti-abuse measure.

  • I-T lens on assessees who repaid huge dues in old notes Feb 03, 2017 04:21 PM IST

    I-T lens on assessees who repaid huge dues in old notes

    After the government banned high value notes on November 8, some individuals got rid of their undisclosed income by repaying long pending dues to government agencies, banks and NBFCs.

  • Huge cash in BSP account: ED shares info with I-T dept Dec 27, 2016 09:14 PM IST

    Huge cash in BSP account: ED shares info with I-T dept

    ED has informed the I-T department and shared relevant documents with regard to its detection of cash deposits totalling over Rs 104 crore in an account of the BSP and another Rs 1.43 crore in an account belonging to Mayawati's brother Anand in a bank branch here.

  • Ex-TN Chief Secy's son 'admits to Rs 17 Cr unaccounted income' Dec 22, 2016 10:00 PM IST

    Ex-TN Chief Secy's son 'admits to Rs 17 Cr unaccounted income'

    Income Tax officials today claimed that former Tamil Nadu Chief Secretary P Rama Mohana Rao's son has "admitted to a total unaccounted income of about Rs 17 crore", a day after I-T raids were carried out at the top bureaucrat's house, office and other premises linked to his kin in connection with a tax evasion probe.

  • I-T dept asks airlines to share passenger list from Nov 8-Dec 2 Dec 08, 2016 01:53 PM IST

    I-T dept asks airlines to share passenger list from Nov 8-Dec 2

    The income tax (I-T) department has directed airlines to submit transaction details including names of passengers for the period November 8 to December 2, reports CNBC-TV18.

  • Currency ban: CCTV footage of Nov 8 may land jewellers in a soup Nov 11, 2016 08:29 AM IST

    Currency ban: CCTV footage of Nov 8 may land jewellers in a soup

    Soon after the ban was announced, many people rushed to buy bullion and jewellery to dispose their Rs 500 and Rs 1000 notes. Jewellery stores in leading gold markets of Delhi, Mumbai and Ahmedabad are said to have done brisk business till the early hours of Wednesday.

  • 'Open to considering Vodafone's move to end tax dispute' Nov 20, 2015 09:07 PM IST

    'Open to considering Vodafone's move to end tax dispute'

    British telecom major Vodafone has approached the Indian government for a conciliation in its Rs 20,000-crore tax dispute

  • Blackmoney: Online link to declare illegal assets launched Jul 21, 2015 03:33 PM IST

    Blackmoney: Online link to declare illegal assets launched

    The Income Tax department has launched a e-filing link on its official website for declaring illegal foreign assets and black money using the one-time compliance window notified recently by government.

  • FinMin asks taxpayers to e-file I-T returns early Jul 01, 2015 10:04 PM IST

    FinMin asks taxpayers to e-file I-T returns early

    The tax department, yesterday, made fully operational its e-filing website for taxpayers to file their I-T returns for assessment year 2015-16.

  • Limited room for major relief on personal tax in Budget Feb 10, 2015 12:39 PM IST

    Limited room for major relief on personal tax in Budget

    According to sources, revenue may take a hit of about Rs 15,000 crore if the I-T exemption limit is raised by Rs 50,000. Even a raise in exemption limit up to Rs 10,000, can cost around Rs 3000 crore.

  • Confident of meeting 35% revenue in 2015: Netmagic Jan 07, 2015 10:26 PM IST

    Confident of meeting 35% revenue in 2015: Netmagic

    I-T infrastructure and data centre services provider Netmagic, majority owned by Japanese I-T giant NTT Communications, is confident of meeting some optimistic growth targets in 2015. What's more, with business looking up, Netmagic's Japanese parent could also increase its investment into the company, reports CNBC-TV18's Kritika Saxena.

  • Vodafone Vs I-T dept: ITAT rules in favour of tax dept Dec 10, 2014 04:00 PM IST

    Vodafone Vs I-T dept: ITAT rules in favour of tax dept

    This transfer pricing dispute arose from transactions involving Vodafone in 2007-08. The I-T department had red flagged the sale of call centre business to Hutchison Whampoa Properties India and the assignment of Call Options.

  • I-T searches at Hatsun Agro factories Mar 12, 2014 09:30 PM IST

    I-T searches at Hatsun Agro factories

    The Income Tax officials carried out the search at the registered office and some factories and also the residence of the whole-time directors of the company from March 11 till the early morning hours of today, the filing added.

  • I-T survey for Rs 42cr land deal; will take action: Dishman Oct 14, 2013 10:00 AM IST

    I-T survey for Rs 42cr land deal; will take action: Dishman

    The income tax department's surveyed Dishman Pharma's premises over the weekend for taxation issues in a Rs 42 crore land deal involving Dishman SEZ and Dishman Pharma.

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