Page 11 - Income Tax Department

Infosys says new I-T portal clocked 30 mn logins, 15 mn ITRs filed so far

Infosys says it acknowledges the difficulties some users continue to experience and says it is working 'expeditiously'

GST panel to consider giving waiver on one day interest, late fee

As some taxpayers faced difficulties in filing GST return on Monday, the tax department on Tuesday said the IT grievance redressal committee would consider giving interest and late fee waiver

Income tax dept detects blackmoney abroad after raids on textile group

The CBDT has claimed that the Income Tax Department has detected black money worth crores stashed abroad after it raided a leading business group involved in manufacture of textile and filament yarn.

I-T Dept detects Rs 700 cr tax evasion after raids on Bengal-based group

I-T Dept carried out searches on Sept 17 at 25 locations of a prominent group engaged in manufacturing steel products in West Bengal, says CBDT

CBDT chairman questions delay in time-barred assessment proceedings

I-T dept to dispose of 35K cases by mth-end; Rs 10K-crore demand may be raised

IT dept officials at premises linked to actor Sonu Sood in Mumbai

Income Tax Department officials descended on the premises linked to actor Sonu Sood in Mumbai and some other places on Wednesday in connection with an alleged tax evasion probe, official sources.

India looking to tax crypto trades and ecosystem in the country: Report

The tax department is in favour of taxing crypto exchanges and trades and the government feels that any activity that generates income must pay tax, ET Now reported

ITR filing extension: No relief to taxpayers on interest liability

ITR filing has increased to 320,000 daily in September 2021

I-T portal glitch: FM's reprimand of Infy reflects contractual weaknesses

As former finance secretary Sumit Bose pointed out, govt often does not set clear milestones. The penalties, too, are often most difficult to invoke owing to a 1987 SC ruling

Tax portal 2.0 to integrate with bourses to track trade transactions

Will take stock of discrepancies in assessee disclosures in ITR

Taxpayers can file settlement claims till September 30: Check details here

This comes amid interim relief provided by some high courts, directing acceptance of applications of settlement even after February 1

60-65 small- to mid-sized companies on I-T radar for TDS mismatch

These companies had reported healthy advance tax payments

Income-Tax notices give FPIs the jitters; experts suspect tech glitches

Experts called the development unprecedented and attributed it to a possible glitch in the new I-T portal

Top headlines: Auto industry protests taxes; FM seeks to boost PSB lending

The government is looking at modifying its Faceless Assessment Scheme for solving tax disputes.

Top taxpayers may get flexibility to exit faceless assessment scheme

Recast of scheme is being discussed to bring in more flexibility into the system

CBDT issues Rs 49,696-cr refunds to 2.2 mn taxpayers from Apr 1-Aug 16

Income tax refunds of Rs 14,608 crore issued in 21,50,668 cases and corporate tax refunds of Rs 35,088 crore issued in 1,24,732 cases, the CBDT informed.

A look into the reasons for the strong personal income tax collection in Q1

In a quarter affected by the second wave, India saw record personal income tax collection at nearly twice that collected in Q1FY21, and 26% more than Q1FY20

IT dept raids telecom equipment trading firm; claims incriminating chats

The Income Tax Department has conducted raids at the premises of a company engaged in trading of telecom equipment

'Faceless' authority proposes restructuring in Income-Tax department

Calls for merger of supervisory officers at CIT level and above

Bill to nullify retro tax to give impetus to India's $5 trn goal: I-T dept

Taxation Laws Amendment Bill, which seeks to nullify retrospective tax demands raised on companies, will instill investor confidence and provide impetus to goal of becoming a $5 trillion economy