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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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Akshay Kumar Reacts As His Martial Arts' Trainees Get Jobs In I-T Department: "So Emotional, So Proud"
"I'm immensely happy," Akshay wrote in his post
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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, 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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BJP Leaders Praised BBC When It Suited Them, Claims Asaduddin Owaisi
AIMIM president Asaduddin Owaisi on Wednesday attacked the central government over the I-T department's survey operation at BBC offices.
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Tax Surveys At BBC Offices "Continuation Of A Trend Of...": Editors Guild
"The survey by the I-T department is in continuation of a trend of using government agencies to intimidate and harass press organisations that are critical of government policies or the ruling establishment," the Guild said in a statement here.
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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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Wife Gets Husband's Income Details Using Right To Information
The Central Information Commission (CIC), in its recent order, has directed the I-T Department to provide a woman with the generic income details of her husband within 15 days.
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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.
-
Akshay Kumar Reacts As His Martial Arts' Trainees Get Jobs In I-T Department: "So Emotional, So Proud"
"I'm immensely happy," Akshay wrote in his post
-
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, 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.
-
BJP Leaders Praised BBC When It Suited Them, Claims Asaduddin Owaisi
AIMIM president Asaduddin Owaisi on Wednesday attacked the central government over the I-T department's survey operation at BBC offices.
-
Tax Surveys At BBC Offices "Continuation Of A Trend Of...": Editors Guild
"The survey by the I-T department is in continuation of a trend of using government agencies to intimidate and harass press organisations that are critical of government policies or the ruling establishment," the Guild said in a statement here.
-
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
-
Wife Gets Husband's Income Details Using Right To Information
The Central Information Commission (CIC), in its recent order, has directed the I-T Department to provide a woman with the generic income details of her husband within 15 days.
-
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.
