The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
The Income Tax department on Sunday published names of 31 tax evaders who owe over Rs 1,500 crore (Rs 15 billion) tax to the government.
Dept to focus on real estate, infra, mining and manufacturing to detect evasion.
The I-T department has been probing 240 HSBC cases where it is suspected that Indians have stashed their illicit funds abroad.
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
The same day the tax sleuths had raided the house of DMK MP S Jagathrakshakan and some of those linked to him. The MP from Arakkonam has interests in a variety of business sectors.
I-T dept launches Tatkal system for those who desire to help the victims of the earthquake in Nepal.
I-T officials say many lawyers, CAs, consultants, designers have not filed their TDS
Amid protests from vegetable merchants over tax raids, the I-T department has unearthed unaccounted money worth over Rs 7 crore (Rs 70 million) from Punjab-based wholesale vegetable merchants, an official said.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
Since high technology fails to live up to the promise of speedy refunds, you must resort to the good, old letter-writing art.
The court had on July 21 issued summons to the firm, Maran and Natrajhen and directed them to appear today after taking cognizance of two I-T complaints filed against them.
Most of the individuals hail from Mumbai, Kolkata, Ahmedabad, Surat, and Delhi
Calling the action of the ED as harassment, he questioned the timing of the summons when the Congress' Bharat Jodo Yatra was on and when the State Assembly session was underway.
Kejriwal's supporters have bombarded Income Tax offices with cheques and demand drafts, offering to pay his tax dues.
Yadav, who returned from the national capital on Thursday after a trip that lasted three days, asserted that there was "nothing new" in the summons, even as he alleged that the central agencies were acting as per the directions of the ruling Bharatiya Janata Party.
The department notified the new set of ITR forms early this week
The allegation against Khan is that he had applied to purchase the agricultural land for farming but constructed a farmhouse for personal use instead.
The Income Tax department Wednesday conducted searches at the premises of Bengaluru-based pharmaceutical company Micro Labs Ltd, the manufacturers of Dolo-650 tablet that was widely used by COVID-19 patients during the last over two years, on charges of alleged tax evasion. Officials said the department is looking at financial documents, balance sheets and business distributor networks of the company as part of the searches. The PTI has sent queries on the action to the company and a response is awaited.
The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion.
Tightening its noose on those who do not pay taxes, the Income Tax Department has started sending letters to around 12 lakh assessees who are high spenders but do not file returns, a top finance ministry official said.
After sending notices to 1.21 million Permanent Account Number (PAN) cardholders who had not filed their income tax (I-T) returns, the I-T department has now identified another 2.17 million potential non-filers. It had already sent letters to 50,000 potential non-filers in the first batch.
The government can seek details from sellers such as sources of funds while buying.
With this batch, the department has now issued letters in 210,000 high priority cases.
The apex court has upheld the treatment of its business process outsourcing hub, Morgan Stanley Advantage Services, as a service permanent establishment.
The Enforcement Directorate has issued a fresh summons to Bihar Deputy Chief Minister and Rashtriya Janata Dal leader Tejashwi Yadav in the railway land-for-jobs scam case, asking him to appear on January 5, official sources said on Saturday.
CBDT stated the searches were on a group based at Chennai and Tiruchirappalli, strictly in line with the Income Tax Act
About Rs 8.33 crore cash has been seized from Delhi, Rs 2.5 from Bengaluru and Rs 60 lakh from Mysuru till now, a senior official said.
Senior tax officials were told to focus on cash collection from the arrears so that the target for FY23 was achieved and the overall revenue position improved.
Taxpayers will have to disclose all bank accounts held by them in India.
The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.
The tax department has released the software for preparing the Income Tax Return forms -- ITR 1-Sahaj, ITR 2, 2A and 4S-Sugam
Directors that are shareholders will also face more problems.
The I-T Department has served notices of attachment of assets to Lalu's daughter Misa Bharti and her husband Shailesh Kumar, his wife and former Bihar Chief Minister Rabri Devi, son and Bihar Deputy Chief Minister Tejashwi Yadav and daughters Chanda and Ragini Yadav.
Go cashless. Go clean, say I=T to people.
The Income Tax department has trained its scanner on the burgeoning 'e-commerce' business in the country.
As part of efforts to boost revenue collection, CBDT has asked the Income Tax Department to monitor cases of over five lakh taxpayers who have not filed their latest tax returns.
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
It said the sleuths have recovered Rs 14.6 crore of "unaccounted" cash and seized diaries and computer files of suspect payments made between Madhya Pradesh and Delhi.
West Bengal Chief Minister Mamata Banerjee on Monday ordered an immediate ban on the screening of the controversial film The Kerala Story to avoid "any incident of hatred and violence", a senior official said in Kolkata.
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