Page 20 - Income Tax Department

Govt orders cadre review, restructuring of I-T dept; 12-member panel formed

The new committee to undertake cadre review and restructuring of the department has been given a specific four-point charter to follow

I-T dept is watching, claiming rent as business income won't be that easy

Taxation depends on whether the property is let out to enjoy the rent or the owner is exploiting it commercially

Close to 7.5 million new tax filers added to I-T net this fiscal: CBDT

The department, last fiscal, had added 10.6 million new tax the income-income tax net during the 2017-18 financial year

Honest, consistent taxpayers to be feted by govt; policy proposal in works

A Few years back, the CBDT had started a process by which diligent taxpayers were sent thank you or appreciation notes over email under the name of the CBDT Chairman

Income tax department eyes over Rs 100 bn from 'struck off' firms

Directors of these companies have been prohibited from holding directorships in any other company

Income Tax department seeks GST and GAAR details in new audit form

The form seeks a break-up of total expenditure of entities registered or not registered under the GST

I-T dept crackdown on TDS defaults; e-retail portals, panchayats in focus

The Central Board of Direct Taxes has also directed the AOs to keep a check on cases in the prosecution list where TDS/TCS was not deposited after deduction

IT dept set to collect Rs 608 billion from Andhra and Telangana this year

The region had 3.61 million tax payers last year

I-T to examine poll candidates' finances ahead of state, general elections

Until now, the CBDT, according to its arrangement with the EC, only scrutinised cases that were being referred to it by the EC, from now on, it will look into the financial details of all candidates

Income tax department issues record refunds of Rs 700 billion in Q1

This was 26 per cent more than the refunds worth Rs 555.2 billion issued in April-June of 2017-18

CBDT proposes clear-cut timelines under transfer pricing

the department, through a draft notification, suggested that the amount should be returned within 90 days of signing of APAs and MAPs.

I-T dept searches Nishant Kanodia over investment in NuPower

An email sent to Matix group on Thursday evening remained unanswered till the time of going to press

Income Tax department prescribes dress code for employees of Delhi office

The recently-concluded party congress of the CPI(M) in Hyderabad witnessed heated discussions on the political lines of party chief Sitaram Yechury and Prakash Karat

Corporate Ministry's incorporation certificate proof of PAN/TAN: I-T dept

The Certificate of Incorporation issued by MCA contains a mention of both PAN and TAN

Income Tax dept freezes Cognizant bank accounts for evading DDT: Report

Cognizant said it had paid all applicable taxes due on the transaction

Income tax department asks 10 PSU firms to pay more tax

Firms such as SBI and ONGC may be asked to meet shortfall

Income tax unions warn of protest against new software 'ITBA' rollout

The department believes that new ITBA system can expedite all pending cases

Tax department to engage with corporates to spur receipts

Advance tax collection up to September 15 slowed to 11 per cent as against 14 per cent last year

Income Tax department asks taxpayers to update self info on e-filing portal

The updated information, a senior official said, is being sought to ensure that a communication sent to a taxpayer reaches him without fail

Income-tax department calls big corporate entities to pay advance taxes

Afraid of missing target, taxmen encourage companies not to delay September instalment