A week after the Income Tax Department's much publicised new e-filing portal went live, users continued to face technical glitches ranging from longer than usual logging time, inability to respond to notices and not all features functioning yet, chartered accountants said on Monday. The new portal, "http://www.incometax.gov.in/"www.incometax.gov.in, was launched last Monday (June 7), which the tax department as well as the government said was aimed at making compliance more taxpayer-friendly. But users complained of technical issues facing the site from the very first day and not everything has been fixed even after a week, chartered accountants (CAs) said, adding that taxpayers are unable to view past e-filed returns and many features/ facilities continue to be marked 'coming soon'. Finance Minister Nirmala Sitharaman herself had asked Infosys - the vendor which created the portal - and its Chairman Nandan Nilekani to fix the technical glitches.
Tax Guru Anil Rego answers your personal income tax queries
Without Form 16, tax computation becomes cumbersome
The Income Tax Department has put on its Web site the list of tax refunds that could not be sent to salaried taxpayers for want of correct address.
It's not unusual for the tax departments to freeze bank accounts and there have been instances of the authorities recovering the outstanding from the bank, though such course of action is not common.
Two-wheeler market leader Hero MotoCorp has denied the report of the IT Department finding Rs 1,000 crore false expense claims, saying it is speculative. The company said officials from the Income Tax department visited its offices in the previous week, and it has provided all support and cooperation, necessary documents and data to the authorities and will continue to do so if required. "The allegations made in the press report are not borne out of any documents that have been served on us or our internal documents.
The agency had in October arrested Sameer Vishnoi, an IAS officer of the state, and two others, after conducting several raids in the case.
Besides real estate, other sectors which are under the scanner of include mining, civil construction, education, jewellery and manufacturing.
Undisclosed income has been detected in respect of 10 assessee groups which included those linked to AIADMK leader V K Sasikala.
There are doubts about the meeting of indirect tax collection target for the current fiscal as there is slowdown in the economy.
The issue of delayed refunds was not a healthy trend and was tarnishing the department's image.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The taxman wants the mascot, which will be used in all communications and publicity purposes of the department, to be 'captivating' and 'inspiring', particularly to the young and future taxpayers.
Transfer pricing tax orders of Income Tax against Shell and Vodafone pertain to alleged undervaluation of shares issued by their domestic subsidiaries to the parent companies abroad.
Rai also asserted that the Congress will win the upcoming Assembly elections in all five states.
I-T said that the Supreme Court on Friday had only given a "partial relief" to those who do not have an Aadhaar.
They will have to reply within 10 days to avoid any notice from the tax department or further enforcement action.
Adani Group chairman Gautam Adani has reaffirmed Adani Enterprises' ambitions for aggressive expansion, committing to invest up to $20 billion annually over the next five years. "Our capital investment across businesses is set to break all records.
The government on Thursday brought a bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies.
If you miss the July 31 deadline, there is a late filing fee of up to Rs 10,000. Also, you cannot file returns beyond March 31, 2019.
This is the seventh time that the government has extended the deadline for individuals to link their PAN with Aadhaar.
No attention to detail seems to have been paid while introducing such a major provision and the wide arc of people it will take in its ambit, states Harsh Roongta.
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.
Karnataka Congress president D K Shivakumar on Wednesday said he has been asked by the Enforcement Directorate to appear before it on February 22, while his daughter has been served notice by the Central Bureau of Investigation.
Finance Minister Nirmala Sitharaman on Tuesday reviewed with Infosys officials the technical glitches that continue to mar the new income tax e-filing portal. Sitharaman, along with Minister of State for Finance Anurag Thakur, revenue secretary Tarun Bajaj, CBDT chairman Jagannath Mohapatra and other senior ministry officials, went point by point on the issues facing the new portal with officials of Infosys - the vendor which developed the site. While there was no official word on what transpired at the meeting, a statement issued by the Institute of Chartered Accountants of India (ICAI) said "the technical glitches shall be addressed fast". ICAI representatives attended the meeting on Tuesday.
Though the system is called faceless, it would have a room for inviting tax payers through video conferencing.
When contacted, Raninder said said he has nothing to hide and was willing to cooperate on the issue.
In this Budget, too, there were a number of measures aimed at plugging tax leakages and ensuring greater compliance, says Sanjay Kumar Singh.
On his 200th birth anniversary, Utkarsh Mishra traces the life, thought, and legacy of Dadabhai Naoroji, the Grand Old Man of India.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
Of the total tax arrears, the two scam-tainted brokers -- Ketan Parekh and late Harshad Mehta -- accounted for Rs 30,000 crore (Rs 300 billion).
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
The Supreme Court of India has made public the asset details of its judges, including Chief Justice Sanjiv Khanna who has Rs 55.75 lakh in a fixed deposit, a three-bedroom DDA flat in south Delhi, and a four-bedroom apartment measuring 2,446 square feet in the Commonwealth Games Village. The court has also uploaded the complete process of appointments to the high courts and the Supreme Court on its website for public awareness.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
It also issued notice to the Centre and the IT department on Vodafone's plea.
Mumbai collected Rs 17,174 crore of advance taxes against Rs 7,356 crore in the same period last year. The tax authorities believe that such a staggering growth rate is a positive sign for the economy.
The income tax department on Tuesday said its new utility developed to help TDS deductors and TCS collectors identify non-filers or "specified persons" on whom higher rate of taxes will be levied will help ease compliance burden. From July 1, non-filers of income tax returns for the past two fiscal years would be subjected to higher tax deducted at source (TDS) and tax collected at source (TCS) rate if such tax deduction was Rs 50,000 or more in each of those two years. The provision was introduced in the 2021 Budget. The TDS deductors and TCS collectors would be required to check on the functionality of the PAN of the vendor from whom TDS is to be deducted or TCS to be collected, only at the beginning of the financial year.
The income tax department on Wednesday said it will immediately issue pending refunds up to Rs 5 lakh, benefitting around 14 lakh taxpayers. The government will also issue pending GST and customs refunds of Rs 18,000 crore to provide relief to business entities.
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