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  • PM Modi to launch platform to honour honest taxpayers on August 13 Aug 12, 2020 12:00 PM IST

    PM Modi to launch platform to honour honest taxpayers on August 13

    The 2020-21 Budget unveiled on February 1, had announced a 'taxpayer charter', which is expected to have statutory status and will empower citizens by ensuring time-bound services by the Income Tax department.

  • CBDT issues guidance note on MAP, stipulates cases where ITAT has passed order Aug 09, 2020 06:26 PM IST

    CBDT issues guidance note on MAP, stipulates cases where ITAT has passed order

    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.

  • FinMin says Income Tax Returns scrutiny reduced to 0.25% in AY 2018-19 Aug 05, 2020 01:30 PM IST

    FinMin says Income Tax Returns scrutiny reduced to 0.25% in AY 2018-19

    Official data released showed the number of income tax scrutiny cases was 0.71 percent in AY 2015-16, 0.40 percent in AY 2016-17, 0.55 percent in AY 2017-18 and 0.25 percent in AY 2018-19.

  • CBDT extends FY19 income tax return filing deadline till September 30 Jul 29, 2020 11:54 PM IST

    CBDT extends FY19 income tax return filing deadline till September 30

    This is the third extension given by the government for taxpayers to file both original and revised tax returns for 2018-19 fiscal.

  • I-T dept to share PAN, bank account data with 10 probe, intel agencies under NATGRID Jul 24, 2020 04:49 PM IST

    I-T dept to share PAN, bank account data with 10 probe, intel agencies under NATGRID

    These agencies are already authorised to obtain real-time NATGRID data as part of a legal arrangement made in the past.

  • I-T department identifies individuals with high value transactions in FY19; to launch e-campaign Jul 18, 2020 08:45 PM IST

    I-T department identifies individuals with high value transactions in FY19; to launch e-campaign

    The department will launch an 11-day e-campaign starting July 20 to facilitate taxpayers who are either non-filers or have discrepancies in their returns for the fiscal year 2018-19 for ensuring voluntary compliance.

  • I-T Department issues refunds worth Rs 71,229 crore to 21.24 lakh taxpayers Jul 17, 2020 06:49 PM IST

    I-T Department issues refunds worth Rs 71,229 crore to 21.24 lakh taxpayers

    For quick processing of tax refunds, the Central Board of Direct Taxes (CBDT) further asked taxpayers to provide an immediate response to emails of the department

  • I-T Department asks taxpayers to verify ITRs for AYs 2015-16 to 2019-20 by September 30 Jul 13, 2020 08:52 PM IST

    I-T Department asks taxpayers to verify ITRs for AYs 2015-16 to 2019-20 by September 30

    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.

  • I-T dept makes new utility for banks, POs to check TDS rate on high-value cash withdrawals Jul 12, 2020 09:40 PM IST

    I-T dept makes new utility for banks, POs to check TDS rate on high-value cash withdrawals

    Explaining the details of this facility, the CBDT said that now the bank/post office has to only enter the PAN of the person who is withdrawing cash for ascertaining the applicable rate of TDS.

  • CBDT asks taxmen to process returns filed up to AY 2017-18 with refund claims by October 31 Jul 10, 2020 10:26 PM IST

    CBDT asks taxmen to process returns filed up to AY 2017-18 with refund claims by October 31

    In order to clear old-pending income tax refunds of taxpayers till the financial year 2016-17, the CBDT had issued an order last year allowing taxpayers to file claim for their pending refunds till and issuance of such refunds by tax authorities by December 31, 2019.

  • I-T Appellate Tribunal to hear Tata Trust tax demand case on July 6: Report Jul 06, 2020 12:02 PM IST

    I-T Appellate Tribunal to hear Tata Trust tax demand case on July 6: Report

    The I-T Department is asking for a 20 percent payment of the Rs 100 crore tax demand from Tata Trust, even if ITAT grants a stay

  • Govt may need to further extend tax return deadline if COVID-19 cases continue to rise: Experts Jul 05, 2020 07:13 PM IST

    Govt may need to further extend tax return deadline if COVID-19 cases continue to rise: Experts

    Although tax experts have welcomed the host of initiatives taken by the Finance Ministry to help the taxpayers in times of unprecedented crisis created by coronavirus pandemic, they feel that something more may have to be done till the normalcy returns.

  • I-T dept specifies jurisdiction of officers for equalisation levy on non-resident e-commerce firms Jun 03, 2020 06:59 PM IST

    I-T dept specifies jurisdiction of officers for equalisation levy on non-resident e-commerce firms

    Experts said as the first due date for payment of the equalisation levy is fast approaching, the income tax authorities seem to be working steadily towards the implementation of this new tax and chances of its deferment look bleak.

  • SBI cautions customers about fake I-T refund messages May 05, 2020 08:51 AM IST

    SBI cautions customers about fake I-T refund messages

    SBI said, "Received any message from the Income Tax Department, requesting you to put in a formal request for your refund? These messages are from fraudsters at play! Ensure you ignore and report the messages immediately,".

  • CBDT again defers GST, GAAR reporting in I-T audit report until March 2021 Apr 27, 2020 09:14 PM IST

    CBDT again defers GST, GAAR reporting in I-T audit report until March 2021

    The due date for its filing is September 30 and if the taxpayer is covered by transfer pricing provisions, the due date is November 30.

  • Vivad Se Vishwas scheme: Declarations can be filed even where notice of prosecution has been issued Apr 22, 2020 07:25 PM IST

    Vivad Se Vishwas scheme: Declarations can be filed even where notice of prosecution has been issued

    The Central Board of Direct Taxes (CBDT) had on March 4 issued a detailed FAQ on the scheme. In a circular issued on Wednesday, the department has modified answer to a question in relation to prosecution cases with a view to "reflect the correct intent of law".

  • Extension of deadlines: Income tax department to revise ITR forms Apr 20, 2020 01:52 PM IST

    Extension of deadlines: Income tax department to revise ITR forms

    The Taxpayers will enjoy benfits of their transactions carried out during 1 April 2020 to 30 June 2020 in this revised ITR forms. Income tax department may also extend the July 31 deadline for filing ITR this year.

  • I-T Dept cautions against breach in e-filing accounts Apr 08, 2020 02:05 PM IST

    I-T Dept cautions against breach in e-filing accounts

    A senior official said the advisory has been issued in the wake of an increased vulnerability and attacks on online systems as the country and the world battle the COVID-19 pandemic and more online systems are being used due to a major scaling down of human interface.

  • Coronavirus lockdown | Govt extends validity of lower withholding tax orders by 3 months till June due to COVID-19 Mar 31, 2020 04:40 PM IST

    Coronavirus lockdown | Govt extends validity of lower withholding tax orders by 3 months till June due to COVID-19

    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

  • Vivad Se Vishwas scheme: Taxpayers can now file declarations as govt notifies rules, forms Mar 19, 2020 06:52 PM IST

    Vivad Se Vishwas scheme: Taxpayers can now file declarations as govt notifies rules, forms

    The online procedure for making declarations under the 'Vivad Se Vishwas' scheme (VSVS) was notified by the Directorate of Income Tax (Systems) on March 19.

  • I-T Department seizes assets worth Rs 1,052cr from April to January of FY20 Mar 17, 2020 04:10 PM IST

    I-T Department seizes assets worth Rs 1,052cr from April to January of FY20

    Replying to a question in the Rajya Sabha, Sitharaman further said investigation regarding tax evasion is an ongoing process and whenever any instance of tax evasion comes to the notice of the department, appropriate action, including search and seizure actions, surveys are taken as per law, depending upon the facts and circumstances of each case.

  • Don't miss March 31 deadline for linking PAN-Aadhaar: Income Tax Dept Mar 16, 2020 05:10 PM IST

    Don't miss March 31 deadline for linking PAN-Aadhaar: Income Tax Dept

    The Central Board of Direct Taxes (CBDT), that frames policy for the I-T department, had extended the deadline for this task for the eighth time on December 30 last year.

  • IT dept gets Rajasthan HC notice on post-demonetisation amendment to Income-Tax Act Mar 09, 2020 08:55 PM IST

    IT dept gets Rajasthan HC notice on post-demonetisation amendment to Income-Tax Act

    The petitioner, Deepak Maratha, had challenged the amendment to the section 115 BBE IT Act 1961, introduced post-demonetisation, which levied the penalty on undisclosed income from previous 30 per cent to 60 percent.

  • Infosys sacks 3 employees arrested on charges of bribery Mar 09, 2020 07:26 PM IST

    Infosys sacks 3 employees arrested on charges of bribery

    Infosys takes any breach of its policies and code of conduct seriously and "we are fully cooperating with the authorities," it said.

  • I-T dept summons Congress MP Ahmed Patel in tax evasion case linked to party funding Mar 06, 2020 05:26 PM IST

    I-T dept summons Congress MP Ahmed Patel in tax evasion case linked to party funding

    Patel, also a Rajya Sabha member from Gujarat, had informed the department that he was unwell when the first summons were sent to him for appearance in February.

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