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Rule 114E of Income-Tax Rules, 1962, for furnishing Statement of Financial Transactions (SFT) came into force with effect from April 1, 2016.

Small cities help taxmen

Offset single-digit growth in tax kitty of Mumbai, Delhi.

29 Dec 2016 1:31 AM IST

Image for representational purpose only

IT detects deposit of more than Rs 700 crore in 1.14 lakh Jan Dhan...

Pointing out that some Jan Dhan accounts were dormant since its opening, the IT sources said that they suddenly recorded...

4 Jan 2017 8:45 PM IST

CBDT has made available in the Compliance Module on the e-filing portal of the Income Tax Department the information relating to the identified non-filers.

Survey seeks higher tax cap

NPS is subject to income tax under the EET regime withdrawals from NPS are taxed to the extent of 60 per cent.

2 Jan 2017 2:10 AM IST

Under the PMGKY after payment of tax, 25 per cent of the unaccounted money will have to be mandatorily parked with the government for 4 years as non-interest bearing deposit.

Hard cash must excist during payment: Govt

Hard cash disclosed under PMGKY, its existence is necessary on the date of making payment of tax.

15 March 2017 12:34 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.

These are benefits of early filing of income tax returns

Your application for housing or educational loan or registration of immovable property gets faster clearance.

10 April 2017 2:27 PM IST

PAN card is impotant document issued by I-T department.

Banks can obtain PAN from a/c holders till June 30

Tax department says rule 114B lists various transactions for which quoting PAN is mandatory.

7 April 2017 2:57 PM IST

PAN card is impotant document issued by I-T department.

File tax returns, apply for PAN using mobile app soon

I-T dept also working on a project to issue PAN within minutes by way of e-KYC authentication using Aadhaar.

15 Feb 2017 3:49 PM IST

BJP leader Subramanian Swamy. (Photo: AP)

Chidambaram's son has 21 undeclared foreign accounts: Swamy

Swami furnished details of the accounts and further claimed that Chidambaram had been influencing the FM to keep the...

20 Feb 2017 7:08 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.

Dilli Ka Babu: Staff crunch

Trust factor is touted as one of the prime reasons why S. Jaishankar was given a one-year extension as foreign...

19 Feb 2017 12:20 AM 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.

I-T dept to issue 'non-statutory' letters in case of no reply

So far, it has received replies from over 7 lakh people who have accepted making suspicious deposits.

17 Feb 2017 3:22 PM IST

Switzerlands tax department issued notices to them last week to reply within 30 days to appeal the decision about providing administrative assistance in information requests from India.

60,000 'black money hoarders' under I-T scanner

CBDT has already detected undisclosed income over Rs 9,334 crore from Nov 9, 2016 to Feb 28 this year.

14 April 2017 10:58 AM IST

The transport industry involved in LPG products has been badly affected by demonetisation.

Subsidy reclaimed

There's no doubt that the cost of many items that the aspiring middle class is buying or using has risen.

14 April 2017 3:02 AM IST