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  • I-T department notifies cost inflation index for FY22 for computing long-term capital gains Jun 16, 2021 03:06 PM IST

    I-T department notifies cost inflation index for FY22 for computing long-term capital gains

    The cost inflation index (CII) is used by taxpayer to compute gains arising out of sale of capital assets after adjusting inflation. The Central Board of Direct Taxes (CBDT) on June 15 notified the cost inflation index for the current fiscal (2021-22).

  • IT Department to launch new e-filing portal for taxpayers on June 7 May 20, 2021 12:59 PM IST

    IT Department to launch new e-filing portal for taxpayers on June 7

    An order issued by the systems wing of the department on Wednesday said the "transition" from the old portal -- www.incometaxindiaefiling.gov.in -- to the new --www.incometaxgov.in -- will be completed and made operational from June 7.

  • Interest on tax refund not received? This may be the reason Apr 22, 2021 10:14 AM IST

    Interest on tax refund not received? This may be the reason

    If ITR has been furnished by the assessee on or before the due date, the interest shall be payable from April 1 of the Assessment Year to the date on which the refund is granted.

  • IT department detects Rs 220 crore black income after raids on Tamil Nadu-based tiles manufacturer Feb 28, 2021 08:55 AM IST

    IT department detects Rs 220 crore black income after raids on Tamil Nadu-based tiles manufacturer

    The CBDT said in a statement that Rs 8.30 crore cash was seized during the raids on the group engaged in the business of manufacture and sale of tiles and sanitaryware. The group is the "leader" in tiles business in south India.

  • With two days to deadline, here's how to link your PAN and Aadhaar Sep 28, 2019 03:47 PM IST

    With two days to deadline, here's how to link your PAN and Aadhaar

    To link these two identity cards (PAN and Aadhaar), all you need to do is head to the Income Tax department's e-filing website.

  • Phishing email in garb of IT Department lurking in Indian cyberspace: Advisory Sep 22, 2019 03:05 PM IST

    Phishing email in garb of IT Department lurking in Indian cyberspace: Advisory

    Indian Computer Emergency Response Team (CERT-In) is the national agency to combat hacking, phishing incidents and to fortify security-related defences of the Indian Internet domain.

  • ITR Filing 2019: Over 1.46 crore income tax returns filed so far; 90.8 lakh taxpayers file ITR-1 Jul 18, 2019 12:15 PM IST

    ITR Filing 2019: Over 1.46 crore income tax returns filed so far; 90.8 lakh taxpayers file ITR-1

    As per data compiled by the revenue department, a total of over 7.94 lakh tax returns were alone filed on July 16, of which over 5.26 lakh was ITR-1 or Sahaj.

  • Add 1.30 crore new filers this fiscal: CBDT to IT dept Jul 06, 2019 08:10 PM IST

    Add 1.30 crore new filers this fiscal: CBDT to IT dept

    The Central Board of Direct Taxes (CBDT), a body that frames policy for the department, has issued the directive in the Central Action Plan (CAP) for 2019-20, released on Friday.

  • AgustaWestland VVIP chopper case: I-T Dept raids several locations linked to Rajeev Saxena Jul 01, 2019 03:50 PM IST

    AgustaWestland VVIP chopper case: I-T Dept raids several locations linked to Rajeev Saxena

    The department has obtained some vital leads related to alleged tax evasion and undisclosed assets abroad linked to Saxena from a sister agency and hence, raids were launched on June 30, they said.

  • IT department relaxes eligibility conditions under Section 9A for foreign funds Aug 05, 2017 03:06 PM IST

    IT department relaxes eligibility conditions under Section 9A for foreign funds

    It may have just become easier for foreign funds to invest in India. CNBC-TV18 learns that the income tax department has softened its stand against foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) by relaxing eligibility conditions under section 9-A for foreign funds. In an interview to CNBC-TV18, Gautam Mehra of PWC shared his views and readings about the same.

  • CBDT moots special plan to dispose of 3 lakh pending cases Jul 07, 2017 10:55 PM IST

    CBDT moots special plan to dispose of 3 lakh pending cases

    It added that "mounting litigation" has choked the revenue stream and is leading to wastage of scarce resources.

  • Collection not satisfactory, pull your socks up: CBDT to taxmen Jul 07, 2017 07:30 PM IST

    Collection not satisfactory, pull your socks up: CBDT to taxmen

    The Central Board of Direct Taxes has asked income tax officials to pull their socks up to shore up revenue collection, noting that it is at present "not satisfactory".

  • Lalu's daughter Misa Bharti skips I-T summons 2nd time Jun 12, 2017 10:45 PM IST

    Lalu's daughter Misa Bharti skips I-T summons 2nd time

    She had not appeared in person on June 6, following which the department had issued a show cause notice under Section 131 of the IT Act and fined her Rs 10,000.

  • Trigyn Tech up 5% on 12-year contract from Maryland IT dept Mar 02, 2017 09:38 AM IST

    Trigyn Tech up 5% on 12-year contract from Maryland IT dept

    Trigyn Technologies, Inc., a wholly-owned subsidiary of company, has been awarded a twelve year indefinite quantity fixed price & time & materials, consulting & technical services IT contract by the State of Maryland‘s Department of Information Technology.

  • Note ban deposit mismatch: Here's how IT dept will verify Feb 22, 2017 12:12 PM IST

    Note ban deposit mismatch: Here's how IT dept will verify

    The Income Tax department has said that Assessing Officers cannot issue show-cause notices or require personal appearance of the depositor in the tax office.

  • Delhi Police, IT dept raids after sting ops on illegal money Nov 17, 2016 10:12 PM IST

    Delhi Police, IT dept raids after sting ops on illegal money

    Delhi Police and IT department today conducted raids at various places in Delhi after news channels aired sting operations showing agents taking black money in the form of demonetised notes and promising to exchange them for valid currency after charging a commission.

  • All you need to know about ‘Shadow IT‘ Sep 29, 2016 07:11 PM IST

    All you need to know about ‘Shadow IT‘

    Shadow IT happens when a company‘s employees work in a parallel IT environment without the knowledge of its IT department. It is also called ‘rogue deployment‘ or ‘stealth IT‘. Employees may use systems, software, or applications the company does not provide. The aim is often to increase efficiency or to save cost.

  • What is Shallow IT? Is it different from Shadow IT? Sep 29, 2016 07:08 PM IST

    What is Shallow IT? Is it different from Shadow IT?

    Since the turn of the century, corporate organisations have switched to participative management. The management consults employees on a range of policy matters. This kind of democracy is transforming corporate IT too, thanks to the rise of shallow IT.

  • Finmin to hold important meet on tax collection on March 18 Mar 17, 2016 07:00 PM IST

    Finmin to hold important meet on tax collection on March 18

    The meeting will be chaired by Revenue Secretary Hasmukh Adhia along with Central Board of Direct Taxes Chairperson Atulesh Jindal and other members of the Board, a senior official said.

  • Blackmoney case: Court asks IT dept to give docs to Qureshi Aug 31, 2015 05:53 PM IST

    Blackmoney case: Court asks IT dept to give docs to Qureshi

    Additional Chief Metropolitan Magistrate Pritam Singh directed the IT department to provide legible copies of documents by September 11, the next date, after Qureshi's counsel said some of the documents were illegible.

  • Fresh summons to SpiceJet, Kalanithi Maran in IT cases Aug 21, 2015 05:58 PM IST

    Fresh summons to SpiceJet, Kalanithi Maran in IT cases

    Additional Chief Metropolitan Magistrate Pritam Singh again issued summons to Maran, the firm and its then Managing Director S Natrajhen as the earlier summons were not served on the accused, who did not appear on Friday.

  • Court summons SpiceJet, Maran as accused in IT cases Jul 21, 2015 06:36 PM IST

    Court summons SpiceJet, Maran as accused in IT cases

    Additional Chief Metropolitan Magistrate Pritam Singh issued summons to Maran, the company and its Managing Director S Natrajhen after taking cognizance on two complaints filed against them by the IT Department. The court directed them to appear before it on August 21.

  • Kingfisher properties to be auctioned in September May 19, 2015 11:59 AM IST

    Kingfisher properties to be auctioned in September

    The IT department has sought Rs 400 crores in dues from Kingfisher and is also claiming the first rights of the sale of these properties.

  • FIIs nervous; have upper hand in MAT issue legally: Pros Apr 17, 2015 10:36 AM IST

    FIIs nervous; have upper hand in MAT issue legally: Pros

    Rajesh Simhan, head - international tax at Nishith Desai says as things stand, the matter is already with the Supreme Court and a number of rulings prior to this are in favour of the tax payer.

  • Supreme Court to hear govt plea against Sesa Sterlite deal Jan 19, 2015 07:36 PM IST

    Supreme Court to hear govt plea against Sesa Sterlite deal

    The taxman argued that Sesa Sterlite, after the merger, had sought tax refund of Rs 1600 crore citing combined losses of the merged entity. The SC will hear the matter for final disposal on April 28.

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