Page 18 - Income Tax Department

Link your PAN with Aadhaar before Dec 31; it's mandatory, says I-T dept

Section 139 AA (2) of the Income Tax Act says that every person having PAN as on July 1, 2017, and is eligible to obtain Aadhaar, must intimate his Aadhaar number to tax authorities.

I-T dept issues tax refunds of Rs 1.57 trillion, up by 27.2% in 2019

In money terms, the income tax refunds have gone up by 27.2 per cent.

I-T dept searches 39 locations to check tax evasion by BSE brokers, traders

Over 39 locations spread across Mumbai, Kolkata, Kanpur, Delhi, Noida, Gurugram, Hyderabad and Ghaziabad were covered under the operation, the department said in a statement on Saturday

I-T crackdown: Brokers, investors come under scanner for fraudulent trades

Conducts searches at over 150 places linked to brokers, investors for alleged tax evasion

I-T dept serves notice to Congress for 'hawala funds' worth Rs 170 cr

The IT department seeks Congress' explanation for receiving the funds from a company as part of its tax evasion probe.

Voda-Idea presses for Rs 7,000-cr tax refund; I-T hesitant in view of AGR

The company has got favourable rulings from High Courts and appellate tribunals in some and is now pressing the department to quickly refund the dues

I-T detects Rs 735-cr financial fraud in raids on BMC contractors

The operation "also led to the detection of the use of bogus companies (floated by entry providers) for giving entries to businesses in the form of loans or bills for expenses, among others".

NIIF Infrastructure Finance set for a tax dispute with I-T department

The company is seeking an exemption since 2015, while the I-T department has notified the fund only from April 1 this year

I-T Department conducts searches on business group; 28 premises covered

A total of 28 premises were covered in search action, including 15 under Section 132 and 13 under Section 133A

Rs 12,000-cr tax blow: I-T dept cancels registration of 6 Tata Trusts

The Trusts further clarified that this order of cancellation is a culmination of the decision taken by these six Trusts in 2015 to surrender, of their own volition, their registration under the Income

Govt not considering any proposal for gold amnesty scheme: Report

The clarification comes amidst media report indicating the government move to launch amnesty scheme that will allow individuals and entities to declare their unaccounted gold holding

I-T dept scans 30,000 individuals for remitting money abroad via RBI scheme

Most of the assessees in question are either traders or professionals; there are also those who sent money abroad for donation purposes

Former anti-corruption body and tax dept boss, K V Chowdary joins RIL board

In a regulatory filing, Reliance said its Board of Directors in a meeting on Friday appointed Chowdary as an Additional Director - Non Executive

I-T Dept finds gold, forex worth over Rs 500 cr from self-styled godman

The so-called spiritual leader's group is said to have used unaccounted cash to acquire properties in excess of their documented values

I-T dept may sell two dozen properties in FY20 over huge maintenance costs

These are located in prime locations in Delhi, Mumbai, Chennai, Bengaluru

Why tax officials are upset about govt's faceless assessment plan

In their letter dated October 3, tax officials have expressed strong displeasure over unilateral decision-making, saying it is not in the interest of the efficient working of the I-T department

CBDT extends deadline on final assessment of post-demonetisation cases

This is the second extension given by the Board in this case after the first deadline of June 30 was extended up to September, the official said

Top events today: SC to hear Aarey forest matter, NeAC launch, and more

Finance Minister Nirmala Sitharaman will inaugurate the income tax department's national e-assessment centre

400,000 taxpayers to face scrutiny under new e-assessment system

Notices were being served to a little over 100,000 assesses, seeking explanation on the returns filed within 15 days

Election Commissioner Lavasa's wife under I-T dept scanner for tax evasion

Ashok Lavasa was appointed election commissioner on January 23, 2018, after he retired as the Union Finance Secretary in the previous year