The BBC said on Tuesday that it is "fully cooperating" with the Income Tax authorities who are at its offices in New Delhi and Mumbai and hoped that the situation will be resolved "as soon as possible".
Ernst & Young is appointed as valuer for Nokia India's Chennai mobile making plant
There have been demands for an extension in filing ITR date since issuance of TDS statement for 2018-19 fiscal was delayed.
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
Government auditor CAG on Friday pulled up the Income Tax Department (ITD) for allowing irregular tax exemption to two Tata trusts involving tax implication of over Rs 1,000 crore (Rs 10 billion).
CBDT feels 30% growth in income-tax not feasible.
Of the people whose data the income tax department now has, email and SMS queries have been sent to 13 lakh people.
The department raided more than 35 premises in Maharashtra's capital city on February 25, and the Central Board of Direct Taxes (CBDT) said in a statement on Thursday that 'preliminary investigation indicates that these contractors have evaded income to the extent of Rs 200 crore on account of...malpractices'.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The two media groups have been critical of the Covid-19 management in the country and have done numerous news stories on the subject during the second wave of the pandemic that hit the country between April and May.
Hari Om Tulsyan, Chief Income Tax Commissioner of Mumbai, says that the government's tax collection arm is becoming slimmer and fitter with help of computerisation and is ready to face the era of globalisation.
The report, floated recently, comes a few days after the government cancelled the registration of Bengaluru-based NGO Infosys Foundation for alleged violation of norms in receiving foreign grants.
Through a revised return, you can make changes to your ITR and even end up paying lower tax.
Empowered CIB to play lead role in recovering tax evaded.
Empowered CIB to play lead role in recovering tax evaded.
Indian and Finnish finance ministry officials on Tuesday discussed Nokia's Rs 21,153 crore (Rs 211.53 billion) tax dispute case and reviewed the double taxation avoidance agreement.
The department found various expatriates were acting as business heads for Indian operations and certain employees were actively involved in concluding sales for the foreign entities of GE in India.
The name of the successful bidder was not disclosed.
I-T officials were scrutinising documents related to purchase orders and other financial dealings.
The rejection of the pleas of the top Congress leaders, including Oscar Fernandes, will pave the way for the Income Tax Department to scrutinise their records for the assessment year 2011-12.
In a relief to Indian companies, the Income-Tax Department has decided to suspend collection of taxes if the Mutual Agreement Procedure is invoked by a US-based entity under the Indo-US Double Taxation Avoidance Convention. To avoid hardship to taxpayers, the competent authorities of India and the US had entered into a memorandum of understanding regarding suspension of collection during the pendency of MAP in 2003.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Comptroller and Auditor General of India report for 2010-11 on direct taxes, tabled in Parliament on Friday, revealed that 958 lakh (95.8 million) PANs were issued up to March 2010 but IT returns filed in the last fiscal were only 340.9 lakh (34.09 million).
The object of AIR is to identify large financial transactions in respect of certain items.
A senior Central Board of Direct Taxes official told Business Standard the Income Tax department had decided to intensify its vigil on the non-payment of TDS on interest earnings and non-disclosure of such income in the tax return.
Maharashtra government on Wednesday decided to acquire the iconic Air India building at Nariman Point in Mumbai for Rs 1,601 crore. The decision was taken at a meeting of the state cabinet in Mumbai. The meeting, chaired by Chief Minister Eknath Shinde, also decided to waive off around Rs 250 crore unrealised income and interest on the property, an official said.
The tax department has released the software for preparing the Income Tax Return forms -- ITR 1-Sahaj, ITR 2, 2A and 4S-Sugam
The Income Tax Department invites all artists and designers, both professionals and amateurs, to develop a Mascot to be used in all advertising and communications of the Department.
The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said.
The Income Tax department, which is probing Cairn Energy plc's transfer of India assets, has asked the UK-based company not to dispose of its 10.3 per cent holding in Cairn India.
The Delhi High Court Tuesday said the Income Tax department is bound by its assurance to maintain confidentiality of the material seized during a survey operation at news portal Newslaundry's premises and to ensure that it is not leaked.
The income tax department has allowed non-resident taxpayers not having PAN to file Form 10F manually till March 31, 2023, a move which would ease their compliance burden and enable them to claim lower TDS rate. The Central Board of Direct Taxes (CBDT) had in July made it mandatory for non-resident taxpayers to file Form 10F electronically to claim benefit of lower Tax Deducted at Source (TDS). However, taxpayers faced problems in electronic filing of the form as the income tax portal did not allow a taxpayer who does not have a Permanent Account Number (PAN) to file Form 10F.
Former MP Sanjay Nirupam on Thursday took a swipe at the Congress leadership over his expulsion, claiming it was done after he sent his resignation letter to the party.
The CBI arrested an NIA deputy superintendent of police posted in Patna and two middlemen on Thursday for allegedly accepting a Rs 20 lakh bribe to extend favours to a person in an ongoing probe, officials said.
Vodafone had however sought Rs 4,759.07 crore in tax refund from for AYs - 2014-15, 2015-16, 2016-17 and 2017-18.
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