Page 13 - Income Tax Department

IT refunds worth Rs 15,438 crore issued in one month of current fiscal

Corporate tax refunds of Rs 10,392 crore have been issued to 21,487 taxpayers.

I-T refunds worth Rs 5,649 crore issued during April 1-19: Data

The Income Tax Department on Wednesday said it has issued refunds of over Rs 5,649 crore to 739,000 taxpayers during April 1-19, 2021-22

IT refunds of over Rs 2.62 trillion issued in FY21, an increase of 43%

The total refunds issued in 2019-20 were worth Rs 1.83 trillion

Software royalty likely to cost Centre Rs 5,000 crore every year

According to sources, the department is examining the court's ruling and seeking legal opinion on it.

I-T finds huge undisclosed income in raids on Bollywood's Taapsee, Kashyap

28 premises raided across Mumbai, Pune, Delhi and Hyderabad; two top film production companies also targeted

I-T dept detects Rs 175 cr dubious income, Rs 3 cr cash set aside for polls

Search and seizure on two groups of civil contractors in Southern Tamil Nadu; assessees suspected of booking bogus expenses to understate profits

Avoid tax credit mismatch in income-tax return request: Experts

In case of an error, file a revised TDS return under Section 154(1)

IT dept detects Rs 220 cr black income from TN-based tiles manufacturer

The action was carried out on February 26 and a total of 20 premises in Tamil Nadu, Gujarat and Kolkata were searched and surveyed, it said

Covid-19 pandemic, staff crunch deal blow to pending APA applications

APAs are aimed at providing certainty to taxpayers in respect of the transfer price of the cross-border transactions

A quarter of direct tax litigations getting resolved via 'Vivad Se Vishwas'

'Vivad Se Vishwas' is the Centre's ambitious tax dispute resolution scheme

Rs 95,000-cr disputed sum settled under 'Vivad se Vishwas': CBDT chairman

This relates to entities resolving long pending litigation issues with the Income Tax Department

Govt mulls revenue dept restructuring; CBIC, CBDT to focus on collection

People in the know said the government was examining measures like the strengthening of the Central Economic Intelligence Bureau (CEIB)

Income tax refunds worth Rs 1.76 trillion issued between Apr 1-Jan 18

The Income Tax department on Wednesday said it has issued over Rs 1.76 trillion worth refunds to over 1.65 crore taxpayers so far this fiscal.

Income-Tax department brings out 'faceless penalty scheme'

It is aimed to complement the faceless assessment scheme by handling penalty recommendations

Govt to set up national, regional centres for faceless penalty proceedings

As per the scheme, the National Faceless Penalty Centre will facilitate the conduct of faceless penalty proceedings in a centralised manner and has been vested with the jurisdiction to impose penalty

Over Rs 950-crore tax evasion by Flipkart unit, Swiggy: I-T department

Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy, said a tax official privy to the preliminary findings

Tax refunds worth Rs 1.73 trn issued so far this fiscal: Income Tax dept

The Income Tax Department on Wednesday said it has issued refunds worth over Rs 1.73 lakh crore to more than 1.57 crore taxpayers in the ongoing fiscal till January 11. Of this, personal income tax refunds are worth Rs 57,139 crore, while corporate tax refunds are worth Rs 1.15 lakh crore. CBDT (Central Board of Direct Taxes) issues refunds of over Rs 1,73,139 crore to more than 1.57 crore taxpayers between April 1, 2020 to January 11, 2021, the Income Tax Department said in a tweet. "Income tax refunds of Rs 57,139 crore have been issued in 1,54,55,577 cases & corporate tax refunds of Rs. 1,15,999 crore have been issued in 2,10,150 cases," it said.

CBDT launches e-portal for lodging complaints on tax evasion, benami assets

Tax Dept will allot unique number to each complaint; the complainant will be able to view status on Dept's website

Special units created in I-T dept for probe into undisclosed foreign assets

A special unit has been created by the government in the countrywide investigation wings of the Income Tax department for focussed probe in cases of undisclosed assets held by Indians abroad

Robert Vadra accuses ED, Income Tax Department of harassment

Pointing to the Covid-19 situation, he expressed reservations for being called by the ED in the office for questioning