Income-tax Act
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Income Tax Was Introduced On This Day: Celebrating India's Fiscal Milestone
This day marks a significant milestone in India's fiscal history, laying the groundwork for the country's tax system.
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Rs 880 Crore ''Concealment'' Found In Income Tax Survey Of Bengaluru Firm
The IT department gathered evidence of tax evasion regarding wrongful claims of deduction under section 80JJAA of Income-tax Act, 1961.
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CBDT Extends Income Tax Returns Filing Deadline For J&K, Ladakh To January 31
"The Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 of the Income-tax Act, 1961 and in partial modification of CBDT's order under section 119 of the Act dated 23.07.2019, 27.09.2019 and 31.10.2019 hereby further extends the ''due-date' for filing I-T Returns/Tax Audit Reports to January 31, 2020 in respect o...
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Tax Officials Attach Rs 400 Crore Plot Belonging To Mayawati's Brother
The Income-Tax Department has attached a "benami" plot worth Rs 400 crore in Noida belonging to BSP chief Mayawati's brother and his wife, an official order said.
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Tax Department Signs 3 Advance Pricing Pacts With Taxpayers
The advance pricing agreements scheme was introduced in the Income-tax Act in 2012 and the "Rollback" provisions were introduced in 2014.
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Central Board Of Direct Taxes Signs 2 Unilateral Advance Pricing Agreements
The APA Scheme was introduced in the Income-tax Act in 2012 and the 'Rollback' provisions were introduced in 2014.
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Less Tax For Small Traders On Digital Transactions: Government
In a bid to promote less cash economy, the government today said small traders and businesses with a turnover of up to Rs 2 crore will pay less tax if they accept payments through banking and digital means.
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Ignorant To Intentional: How The Notes Ban Is Being Scammed
Till 10 days ago, 40-year-old Radha (name changed) used to make ends meet by stitching clothes out of her one-room house in Tughlaqabad near Delhi. But the stark dip in her earnings due to the ban on old notes has made her desperate enough to risk using her own bank account to exchange other people's old 500 and 1,000 rupee bills for a commission.
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No Taxman Can Terrorise Assesses of Scrutiny: CBDT
The taxman is empowered to undertake a scrutiny procedure, under section 143 (3) of the Income-tax Act, against any taxpayer if he/she is suspected to have not filed a correct return of his/her income or it is detected that the income has escaped proper assessment.
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How to Make Most of New PPF Limit of Rs 1.5 lakh
Mr Jaitley also increased the maximum amount eligible for deduction through permissible investments under 80C of the Income-Tax Act to Rs 1.5 lakh, from Rs 1 lakh. PPF is one of the financial savings that qualifies for Section 80C tax benefits. Not only the money you invest in PPF is exempt from tax under Section 80C, the interest you earn on the P...
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CA student allegedly hacks into Anil Ambani's income-tax e-filing account
The 21-year-old woman, who has been doing her chartered accountancy articleship at Manoj Daga & Company in Hyderabad, was booked under relevant sections of Information Technology Act on September 7, after a preliminary investigation and faces arrest in the case.
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Vodafone hits fresh hurdle in tax dispute case
The Law Ministry has said the Income-Tax Act does not allow for resolution of disputes outside the Act, sources told NDTV.
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Deadline for filing tax returns extended to Aug 31 due to power outages
The Central Board of Direct Taxes (CBDT) on Tuesday extended the deadline for filing income tax returns for assessment year 2012-13 by a month to August 31.
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Pranab allays concerns, says retrospective I-T Act amendments will not impact FDI
Mukherjee also said that representations have been received from various persons, including some foreign governments, regarding retrospective amendments to the Act.
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US worried over retrospective changes in income-tax act: Godrej
The issue came up for discussion during a closed-door meeting of several industry leaders and US ambassador to India Nancy J. Powell.
-
Income Tax Was Introduced On This Day: Celebrating India's Fiscal Milestone
This day marks a significant milestone in India's fiscal history, laying the groundwork for the country's tax system.
-
Rs 880 Crore ''Concealment'' Found In Income Tax Survey Of Bengaluru Firm
The IT department gathered evidence of tax evasion regarding wrongful claims of deduction under section 80JJAA of Income-tax Act, 1961.
-
CBDT Extends Income Tax Returns Filing Deadline For J&K, Ladakh To January 31
"The Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 of the Income-tax Act, 1961 and in partial modification of CBDT's order under section 119 of the Act dated 23.07.2019, 27.09.2019 and 31.10.2019 hereby further extends the ''due-date' for filing I-T Returns/Tax Audit Reports to January 31, 2020 in respect o...
-
Tax Officials Attach Rs 400 Crore Plot Belonging To Mayawati's Brother
The Income-Tax Department has attached a "benami" plot worth Rs 400 crore in Noida belonging to BSP chief Mayawati's brother and his wife, an official order said.
-
Tax Department Signs 3 Advance Pricing Pacts With Taxpayers
The advance pricing agreements scheme was introduced in the Income-tax Act in 2012 and the "Rollback" provisions were introduced in 2014.
-
Central Board Of Direct Taxes Signs 2 Unilateral Advance Pricing Agreements
The APA Scheme was introduced in the Income-tax Act in 2012 and the 'Rollback' provisions were introduced in 2014.
-
Less Tax For Small Traders On Digital Transactions: Government
In a bid to promote less cash economy, the government today said small traders and businesses with a turnover of up to Rs 2 crore will pay less tax if they accept payments through banking and digital means.
-
Ignorant To Intentional: How The Notes Ban Is Being Scammed
Till 10 days ago, 40-year-old Radha (name changed) used to make ends meet by stitching clothes out of her one-room house in Tughlaqabad near Delhi. But the stark dip in her earnings due to the ban on old notes has made her desperate enough to risk using her own bank account to exchange other people's old 500 and 1,000 rupee bills for a commission.
-
No Taxman Can Terrorise Assesses of Scrutiny: CBDT
The taxman is empowered to undertake a scrutiny procedure, under section 143 (3) of the Income-tax Act, against any taxpayer if he/she is suspected to have not filed a correct return of his/her income or it is detected that the income has escaped proper assessment.
-
How to Make Most of New PPF Limit of Rs 1.5 lakh
Mr Jaitley also increased the maximum amount eligible for deduction through permissible investments under 80C of the Income-Tax Act to Rs 1.5 lakh, from Rs 1 lakh. PPF is one of the financial savings that qualifies for Section 80C tax benefits. Not only the money you invest in PPF is exempt from tax under Section 80C, the interest you earn on the P...
-
CA student allegedly hacks into Anil Ambani's income-tax e-filing account
The 21-year-old woman, who has been doing her chartered accountancy articleship at Manoj Daga & Company in Hyderabad, was booked under relevant sections of Information Technology Act on September 7, after a preliminary investigation and faces arrest in the case.
-
Vodafone hits fresh hurdle in tax dispute case
The Law Ministry has said the Income-Tax Act does not allow for resolution of disputes outside the Act, sources told NDTV.
-
Deadline for filing tax returns extended to Aug 31 due to power outages
The Central Board of Direct Taxes (CBDT) on Tuesday extended the deadline for filing income tax returns for assessment year 2012-13 by a month to August 31.
-
Pranab allays concerns, says retrospective I-T Act amendments will not impact FDI
Mukherjee also said that representations have been received from various persons, including some foreign governments, regarding retrospective amendments to the Act.
-
US worried over retrospective changes in income-tax act: Godrej
The issue came up for discussion during a closed-door meeting of several industry leaders and US ambassador to India Nancy J. Powell.
