Tax Department

The assessee (Flipkart) argued that the matter was already decided in its favour by the income-tax appellate tribunal (ITAT) Bengaluru on the same issue earlier during assessment year 2015-16

Unrealistic revenue targets will affect business environment

The CBIC issued circular clarifying guidelines on recovery proceedings for the period 2017-18 and 2018-19

Tax outflows drive tightness; banks face pressure to raise deposit rates

In July, the commerce department sought inter-ministerial comments on the DESH Bill that aims at replacing the existing special economic zone (SEZ) law

Abhishek Rastogi said the Bench would be useful to expedite the matters and would also ensure that a lot of matters on the same issue were clubbed and placed in one single Bench

Those with income from business or profession, who have availed deduction on cess/surcharge, must do so by March 31

Respond on time, with expert help if required, to prevent further punitive measures

A mistake in calculating tax liability could lead to a notice from the tax department

The Income Tax Department on Thursday conducted raids against the media group Dainik Bhaskar in multiple cities over alleged tax evasion, official sources said

Earlier, the tax body had initiated a measure to help GST return filers by facilitating early refund of input tax credit

From taxpayers' point of view, this scheme provides a good window of opportunity to reduce litigation and it must be evaluated positively.

Of this, a total 1,730 assessees, involving a tax demand of Rs 1, 578 crore, have agreed to come under the scheme

Earlier, Prime Minister Narendra Modi had assured honest and law-biding taxpayers that they will not be harassed by the tax department

The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not

The tax department itself has marked 94 per cent of all direct tax arrears as "demand difficult to recover"

CBDT had last week asked the entities required to furnish SFT under 114E of Income Tax Rules

As per latest RBI data, Rs 8.45 lakh crore worth of such currencies were deposited in banks till November 27