Income Tax I-t
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High-Value Cash Transactions At Hotels, Hospitals Come Under Income Tax Scrutiny
Rampant cash transactions in business sectors like hotels, luxury brand sales, hospitals and IVF clinics need to be checked in a "non-intrusive" manner, the CBDT has asked the I-T department.
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Making Exaggerated Claims To Get Refunds Punishable Offence: Tax Department
The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds.
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5 Income Sources Salaried Taxpayers Must Mention While Filing I-T Returns
Attention taxpayers! The last date to file an Income Tax Return (ITR) for individuals, who don't need an audit of their accounts, is almost here. The due date is July 31, 2024.
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Link PAN With Aadhaar Card Before May 31: Income Tax Department To Taxpayers
The I-T department noted that if a taxpayer fails to link the PAN with Aadhaar Card then it will lead to tax deduction at a higher rate.
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Income Tax Department On "Chopper Searched" Charge By Trinamool Leader
As a row erupted over the TMC's claim of a "raid" by income tax officials targeting a helicopter used by Abhishek Banerjee, I-T department sources claimed on Sunday that there was no enforcement action such as search or survey.
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Rs 290 Crore And Still Counting Among India's Biggest Cash Recoveries
In what is likely India's biggest cash recovery in income tax raids, at least Rs 290 crore in hard cash has been recovered so far during raids in three states since yesterday.
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BJP Demands CBI Probe Into Recovery Of Rs 94 Crore In Cash During Raids
The Karnataka BJP on Tuesday staged a demonstration here demanding a CBI investigation into the recovery of huge amounts of cash in the recent I-T raids in Karnataka and some other states.
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Man, 43, Arrested Over Hoax Bomb Call At Hyderabad's Income Tax Offices
Police conducted searches at the I-T offices on June 12 and concluded it to be a hoax call.
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Man, Asked To Pay Rs 113 Crore In Tax, Says He Earns Rs 53,000 A Month
A resident of Bhind in Madhya Pradesh with a monthly income of Rs 53,000 got a demand notice from income tax (I-T) department to cough up Rs 113.83 crore for alleged transactions of Rs 132 crore in his account in 2011-12.
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68,000 Cases Flagged For Mismatch In 2019-20 Income Tax Returns
Under the e-verification scheme, the I-T department informs the taxpayers about mismatch in Annual Information Statement (AIS) about financial transaction and the I-T returns filed.
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Taxmen At BBC Offices For 2nd Day, Most Employees Asked To WFH
Searches at the BBC's offices in Delhi and Mumbai continued all night, spilling over to the second day as Income Tax officials investigated alleged tax evasion
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Those With Incomplete I-T (Tax) Returns Will Get a Prompt From Tax Department
The Income Tax Department will send an intimation through SMS or mail
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"No Tax Raids" In Country Once KCR Comes To Centre: Telangana Minister
Telangana Labour Minister Ch Malla Reddy on Sunday said there would not be raids by income tax (I-T) once Chief Minister K Chandrasekhar Rao forms the government at the Centre after the 2024 general elections.
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Income Tax Department Relaxes Norms For Compounding Of Offence
The income tax department on Saturday said it has relaxed various norms relating to compounding of offences under the I-T Act and allowed compounding in cases where the applicant has been sentenced to up to two years of imprisonment.
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Taxpayers Get More Time To Claim Credit For Taxes Paid Outside India
The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline.
-
High-Value Cash Transactions At Hotels, Hospitals Come Under Income Tax Scrutiny
Rampant cash transactions in business sectors like hotels, luxury brand sales, hospitals and IVF clinics need to be checked in a "non-intrusive" manner, the CBDT has asked the I-T department.
-
Making Exaggerated Claims To Get Refunds Punishable Offence: Tax Department
The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds.
-
5 Income Sources Salaried Taxpayers Must Mention While Filing I-T Returns
Attention taxpayers! The last date to file an Income Tax Return (ITR) for individuals, who don't need an audit of their accounts, is almost here. The due date is July 31, 2024.
-
Link PAN With Aadhaar Card Before May 31: Income Tax Department To Taxpayers
The I-T department noted that if a taxpayer fails to link the PAN with Aadhaar Card then it will lead to tax deduction at a higher rate.
-
Income Tax Department On "Chopper Searched" Charge By Trinamool Leader
As a row erupted over the TMC's claim of a "raid" by income tax officials targeting a helicopter used by Abhishek Banerjee, I-T department sources claimed on Sunday that there was no enforcement action such as search or survey.
-
Rs 290 Crore And Still Counting Among India's Biggest Cash Recoveries
In what is likely India's biggest cash recovery in income tax raids, at least Rs 290 crore in hard cash has been recovered so far during raids in three states since yesterday.
-
BJP Demands CBI Probe Into Recovery Of Rs 94 Crore In Cash During Raids
The Karnataka BJP on Tuesday staged a demonstration here demanding a CBI investigation into the recovery of huge amounts of cash in the recent I-T raids in Karnataka and some other states.
-
Man, 43, Arrested Over Hoax Bomb Call At Hyderabad's Income Tax Offices
Police conducted searches at the I-T offices on June 12 and concluded it to be a hoax call.
-
Man, Asked To Pay Rs 113 Crore In Tax, Says He Earns Rs 53,000 A Month
A resident of Bhind in Madhya Pradesh with a monthly income of Rs 53,000 got a demand notice from income tax (I-T) department to cough up Rs 113.83 crore for alleged transactions of Rs 132 crore in his account in 2011-12.
-
68,000 Cases Flagged For Mismatch In 2019-20 Income Tax Returns
Under the e-verification scheme, the I-T department informs the taxpayers about mismatch in Annual Information Statement (AIS) about financial transaction and the I-T returns filed.
-
Taxmen At BBC Offices For 2nd Day, Most Employees Asked To WFH
Searches at the BBC's offices in Delhi and Mumbai continued all night, spilling over to the second day as Income Tax officials investigated alleged tax evasion
-
Those With Incomplete I-T (Tax) Returns Will Get a Prompt From Tax Department
The Income Tax Department will send an intimation through SMS or mail
-
"No Tax Raids" In Country Once KCR Comes To Centre: Telangana Minister
Telangana Labour Minister Ch Malla Reddy on Sunday said there would not be raids by income tax (I-T) once Chief Minister K Chandrasekhar Rao forms the government at the Centre after the 2024 general elections.
-
Income Tax Department Relaxes Norms For Compounding Of Offence
The income tax department on Saturday said it has relaxed various norms relating to compounding of offences under the I-T Act and allowed compounding in cases where the applicant has been sentenced to up to two years of imprisonment.
-
Taxpayers Get More Time To Claim Credit For Taxes Paid Outside India
The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline.
