Income Tax Department | The Asian Age

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The I-T Department has slapped notices on 1.16 lakh individuals and firms who made cash deposits of more than Rs 25 lakh in bank accounts post note ban but failed to file returns by the due date. (Photo: PTI/Representational)

I-T notices to 1.16 lakh for cash deposits of Rs 25 lakh post note ban

I-T officials said number of people prosecuted for violating I-T laws has more than doubled to 609 in April- September this year.

28 Nov 2017 1:48 PM

The I-T department will launch full-fledged assessment proceedings from January next year against those assessees who have deposited "suspicious" amounts of money in banks post-demonetisation, but have not filed their income tax returns till now. (Photo: AFP/Representational)

Black money: Taxmen to launch assessment of defaulters from Jan

CBDT has asked the taxman to finish the process of serving notices to such entities by December 31.

27 Nov 2017 8:53 PM

Currently income up to Rs 2.5 lakh per annum is exempt from tax for individuals.

Govt sets up panel to review income tax laws

In 2016 Finance Minister Arun Jaitley also promised to lower corporate tax rate to 25 per cent in 5 years.

22 Nov 2017 7:55 PM

The Income Tax Department will soon issue notices to those who have deposited "suspicious" amounts of money in banks post-demonetisation and have not responded to taxman's preliminary communication. (Photo: PTI)

CBDT to issue notices to 'suspicious' cash depositors

The people who have filed their returns will be examined against the amounts they have deposited during the period of note ban.

14 Nov 2017 9:10 PM

The finance ministry has said the tax department should file a third appeal in a case only selectively and after a critical examination. (File Photo)

Third appeal in tax cases should be filed selectively: CBEC

The TPRU had suggested that CBEC should not contest a case further, if the issue has been lost in two previous stages of appeals.

14 Nov 2017 8:41 PM

Income Tax department also raided the Tamil television channel, Jaya TV, over suspected tax evasion. (Photo: PTI)

Rs 1,430 crore undisclosed income found during raids on Sasikala clan, Jaya TV, says I-T dept

I-T sleuths last Thursday conducted multi-city raids on 187 premises, including those linked to Sasikala, Dhinakaran.

14 Nov 2017 9:09 AM

A team of around 10 officials of the I-T investigation department entered the office of the television channel at Ekkatthuthangal around 6 am after showing their identity cards. (Photo: ANI/Twitter)

I-T dept raids Jaya TV Chennai office as part of 'Operation Clean Money'

The allegation also covers aspects like shell companies, dubious investments, fund flow and fudging of accounts.

09 Nov 2017 3:48 PM

According to official data, 17.73 lakh suspicious cases involving Rs 3.68 lakh crore were identified by the taxman in 23.22 lakh bank accounts post demonetisation.

Note ban: Over 20,000 I-T returns picked for detailed probe

Department conducted 8,239 survey operations leading to detection of Rs 6,745 crore of black money.

06 Nov 2017 6:54 PM

The income tax department on Wednesday came out with draft notification for fresh registration of trusts who have carried out modification of their objects. (Photo: PTI)

I-T dept issues draft notification for registration of trusts

The I-T department has now come out with draft notification to amend Rule 17A and Form 10A of the Act.

18 Oct 2017 4:24 PM

A window has been hosted on the main page of the department's website. (Photo: PTI)

I-T dept launches 'online chat' to answer taxpayers queries

An option has also been provided to the taxpayer for emailing entire chat to their ids for future reference.

18 Oct 2017 2:01 PM

A new I-T return filer is defined as a person who has not filed return in the previous years but is liable to do so under the law.

I-T dept fastens belt to add 1.25 cr new tax filers this year

The total number of all returns (electronic + paper) filed during the financial year 2016-17 was 5.43 crore.

28 Sep 2017 12:40 PM

The taxpayers can access their personal e-filing account at https://incometaxindiaefiling.gov.in/. (Photo: PTI)

I-T dept asks taxpayers to update self info on e-filing portal

A taxpayer can do any business using their personal e- filing account only after updating the details.

22 Sep 2017 2:57 PM

Representational image: A small number of merchants participated in auctions at a few AMPCs in Nashik.

Sluggish onion trading in AMPCs after strike ends

The merchants had boycotted trading after some of the onion traders were raided by the income tax department.

19 Sep 2017 6:06 AM

Input tax credit data for CGST claimed in TRAN-1 has shown that registered businesses have claimed over Rs 65,000 crore as transitional credit.

Tax authorities to scan transition credit claim of 162 cos

Till last week as many as 70 per cent of 59.57 lakh taxpayers had filed returns.

15 Sep 2017 2:11 PM

The government will launch 'Prject Insight' to trace social media accounts in order to identify mismatches between spending pattern and income declaration.

Project Insight: Taxmen to track buys via social media to curb black money

Taxmen will analyse mismatches in income declarations and spending patterns to trace tax evasions and black money.

10 Sep 2017 12:45 PM

The pilot project is being run in seven cities of Mumbai, Delhi, Chennai, Bengaluru, Ahmedabad, Kolkata and Hyderabad.

78 per cent rise in paperless I-T assessment; all-India roll out by year end

During the financial year 2015-16, a total of 1,014 cases were completed under the pilot project (e-assessment).

08 Sep 2017 5:17 PM

Tax scanner on 14,000 homes, Rs 2.89 lakh deposits

While Rs 15,496 crore was admitted as undisclosed income, surveys resulted in seizure of Rs 13,920 crore.

01 Sep 2017 2:39 AM

The Income Tax Department has imposed Rs 7,900 crore penalty on Vodafone.

I-T dept slams Rs 7.9K crore penalty on Vodafone

This is in relation to unpaid tax dues after the sale of CK Hutchison Holdings Ltd's mobile phone business to Vodafone in 2007.

29 Aug 2017 2:29 PM

Errors made while filing income tax returns can be addressed on the 'e-Proceeding' option on the I-T e-filing website.

10 steps to correct mistakes made while filing income tax returns

One can access the 'e-Proceeding' option on Income Tax department's e-filing website to rectify the errors.

23 Aug 2017 1:18 PM

The additional ITRs received in 2017 works out to be 56 lakh.

No inconsistency in number of tax payers: CBDT

Number of individuals filing income tax returns has jumped to 2.79 crore this year from 2.23 crore last year.

18 Aug 2017 8:06 PM

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Dilip Cherian