Latest News on Income Tax
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Income Tax - Total results - 549
Aug 09, 2018
Only 0.35% of I-T returns filed last year to be scrutinised, says Income Tax DepartmentScrutiny of I-T returns has been an issue of grievance for many assessees. Earlier about 1 percent of the income tax returns filed were picked up for scrutiny. This has now been brought down to 0.35 percent.
Aug 07, 2018
Over two lakh non-filers filed IT returns in FY 2017-18, paid Rs 6,416 crore tax to the exchequerMinister of State for Finance Shiv Pratap Shukla said sustained non-intrusive campaign the last fiscal led to 18 percent jump in direct tax collection to Rs 10.03 lakh crore
Jul 26, 2018
Income tax returns: In a relief to salaried class, govt extends ITR filing deadline to 31 AugustIncome Tax Dept extends the due date for filing of Income Tax Returns from 31 July, 2018 to 31 August, 2018 in respect of taxpayers whose accounts are not liable for audit
Jul 25, 2018
Madras High Court allows petitioners to file income tax returns without quoting Aadhaar numberMadras HC allowed nine petitioners to file their income tax returns manually without quoting Aadhaar number for the assessment year 2018-19.
Jul 24, 2018
Filing ITR: You could hire a CA, opt for services of TRP, buy private software or do-it-yourselfFiling income tax return as said in the earlier pieces is a fairly simple affair but if one has avoided tax wittingly or unwittingly by investing in the names of near and dear ones, it is better to call for the services of experts
Jul 23, 2018
Income Tax Returns: CBDT has simplified process, but it could be demanding exercise for naive tax avoidersYou can proactively and immediately, on the heels of filing the original return, file a revised return for which there is a provision in the income tax department’s e-filing website itself.
Jul 18, 2018
Income tax returns: Forgetting to file returns for your losses by due date may cost you dearlyIf you do not file your returns by the due date, the losses that otherwise could be carried forward cannot be.
Jul 17, 2018
Income Tax department seizes Rs 163 crore cash, 100 kg gold after raids at a road construction firm's premises in Tamil NaduIn one of the biggest recoveries till date, the Income Tax (IT) department has seized Rs 163-crore cash and about 100-kg bullion, following raids at multiple premises of a road construction firm in Tamil Nadu
Jul 13, 2018
Tightening noose around money laundering: RBI orders demand drafts must have name of purchaser from 15 SeptemberThe Reserve Bank of India (RBI) too has thrown its weight behind the Modi government's efforts with the latest one being making demand draft (DD) fool-proof insofar as money laundering is concerned.
Jul 12, 2018
Govt raises threshold limit for filing appeals in tax cases, says finance minister Piyush GoyalFinance minister Piyush Goyal said the move is to create trust in the tax administration and give relief to honest, small and mid-sized taxpayers