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The Income Tax Department has asked banks to report all cash deposits exceeding Rs 2.5 lakh during the 50-day window.

Banks to report deposits over Rs 2.5 lakh in 50-day window

The government on November 8 night announced demonetisation of Rs 500 and Rs 1,000 notes.

12 Nov 2016 10:33 AM IST

Income Tax officials conducted a raid at Tamil Nadu Chief Secretary Rammohan Raos residence in Chennais Anna Nagar on Wednesday. (Photo: PTI)

I-T dept launches toll-free number to check graft in UP polls

The department will also keep an eye on airports, railways, customs and transport departments to curb flow of black...

10 Jan 2017 3:48 PM IST

Income Tax department

I-T dept to lift the freeze on British oil explorer

The company said it is pursuing its rights under Indian law to appeal the assessment.

8 March 2017 4:14 PM IST

CBDT chief Sushil Chandra. Photo: PTI

Shell companies under our radar: CBDT chief

There are many companies which are currently being examined by the CBDT through a committee.

4 March 2017 5:27 PM IST

The government has proposed to halve the income tax to 5 per cent for those earning between Rs 2,50,000 and Rs 5,00,000 per annum, in a relief to the middle class.

File your income tax returns by today itself as no more extension...

The government refused to extend the July 31 deadline for filing income tax returns.

31 July 2017 12:01 PM IST

The demonetised notes included 6,455 notes of Rs 1,000 and 7,090 notes of Rs 500, which were banned by the government last year on November 8.

Demonetised currency worth Rs 1 crore seized in Thane

The crime branch acted on a tip-off that two men were to arrive at Hotel Sai Krupa near Talaopali in Thane west with...

21 May 2017 2:16 AM IST

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I-T dept exposes five entities under name and shame strategy

The initiative was imposed after five entities were found owing over Rs 10 crore in taxes.

18 May 2017 1:15 PM IST

Tax payers will also need to quote their Aadhaar number while filing their returns as per the recently passed amendments in the Finance Bill.

CBDT issues clarification on furnishing SFT

Entity having TAN can generate an ITDREIN only when such TAN's Organisational PAN is not available.

26 May 2017 12:44 PM IST

Misa Bharti with father and RJD chief Lalu Prasad Yadav (Photo: PTI)

I-T summons RJD chief Lalu's daughter Misa, son-in-law in benami land...

Misa Bharti and husband Shailesh Kumar will have to appear before IT department on 6th of June.

24 May 2017 6:52 PM IST

I-T department sent notices to six societies in Kalanagar.

Redevpt blgs flat owners miffed with Rs 200 crore I-T notices

The residents have challenged the notices, stating that tax should not be levied on two parties for the same...

24 May 2017 1:30 AM IST

CBI team laid a trap and a case was registered under section 7 of the Prevention of Corruption Act, 1988 against the officer. (Representational Image)

IT department officer held for accepting Rs 1 lakh bribe

The accused had demanded a bribe to grant favours over tax liability of the victim.

31 Dec 2016 2:44 AM IST

S&P corporates and banks are likely to face short-term downside risk as the demonetisation-induced cash crunch will curtail GDP growth.

Raids at Zaveri Bazaar shops yield Rs 100 crore

According to the IT sources, the owners of these shops had deposited a lot of old notes of Rs 500 and Rs 1,000 in their...

31 Dec 2016 2:06 AM IST