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The gross collections, before adjusting for refunds, rose 14.5 per cent to Rs 8.83 lakh crore during 11 month period of the current financial year. Refunds amounting to Rs 1.39 lakh crore have been issued till February.

Direct tax collection rises 19.5 per cent in February

The growth rate for net corporate tax collections stood at 19.7 per cent while for personal income tax is 18.6 per cent.

9 March 2018 12:31 AM IST

The e-filing facility for ITR-1, which is to be enabled from April 1, will have an online tax calculator and ITRs can be filed till the stipulated deadline of July 31.

Direct tax collection rises 19.5 pc to Rs 7.44 lakh cr in April-Feb

Net direct tax collection represents 74.3 pc of Rs 10.05 lakh cr as per revised estimates given in Union Budget 2018-19.

8 March 2018 4:57 PM IST

Direct tax collection in the fiscal year just ended has exceeded the targets with a record 6.84 lakh income tax returns being filed, officials said today.

Panel to redraft direct tax laws to focus on simplification

The recommendations of the panel is likely to be included in the final budget for 2019-20.

19 Dec 2018 4:32 PM IST

Bombay high court

Court: I-t dept can't cancel registration

The organisation had complained that the IT department, had arbitrarily cancelled the organisations registration.

18 May 2018 1:28 AM IST

Tata Steel is countrys major steel producer.

NCLAT asks Tata Steel if it will pay dues of Bhushan Steel

Bhushan Steel owed its lenders about Rs 56,000 crore and was among the 12 big loan defaulters identified by the Reserve...

30 May 2018 1:58 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.

Private vault raided by CBI sleuths, Rs 25cr seized

This is the third major locker operation' carried out by the investigating agencies this year.

3 Dec 2018 1:13 AM IST

Online travel agency MakeMyTrip and e-commerce giant Flipkart have tied up for online bookings of hotels and flights.

Taxmen seek info on Walmart deal

Under Section 195 of the Act, anyone making payment to non-residents is required to deduct tax (commonly known as...

14 May 2018 1:52 AM IST

Apart from Subramanian Swamy, other former judges and senior advocates of the Supreme Court also reacted to the press meet. (Photo: PTI)

Subramanian Swamy wants I-T abolished to ease burden

He said most taxpayers are the middle class and startup entrepreneurs and it amounts to harassment for them.

12 May 2018 12:26 AM IST

Income-tax sources said more than Rs 5.5 crore unaccounted cash was seized during the raids, besides property documents and jewellery worth over Rs 89 crore.

I-T raids at resort linked to Congress MLA

Also raided was the Hotel Mayura Chalukya belonging to the Karnataka State Tourism Development Corporation.

9 May 2018 1:55 AM IST

Lawyer Vijay Aggarwal, speaking by telephone, declined to comment on where Nirav Modi was. (Photo: PTI)

Agencies to crack down on Nirav Modi's aides

Modi, Mehul Choksi and others are being investigated by multiple agencies after the Punjab National Bank disclosed a...

2 May 2018 2:25 AM IST

The scheme seeks to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance.

LTCG tax, other Budget proposals to kick in from April 1

Presently, no tax is applicable on Rs 19,200 of transport allowance and medical expenditure of up to Rs 15,000.

30 March 2018 1:34 PM IST

The agency alleged Rai approached Kapil Wadhawan, a relative of the promoters of the company, in September 2017, portraying himself as an income tax power broker .

Journalist Rai booked in extortion case: CBI

He also gave his credentials as a senior journalist to Wadhawan, who was connected to big media houses.

6 May 2018 7:34 AM IST