Income Tax

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Income tax refunds of Rs 92,961 crore issued during this fiscal, says CBDT
India

Income tax refunds of Rs 92,961 crore issued during this fiscal, says CBDT

This figure includes income tax refunds of Rs 23,026 crore in 61,53,231 cases and corporate tax refunds of Rs 69,934 crore in 1,69,355 cases, an official Twitter post said

I-T department widens probe against actor Sonu Sood; searches multiple properties in Mumbai
Entertainment

I-T department widens probe against actor Sonu Sood; searches multiple properties in Mumbai

A real estate deal and some other financial transactions linked to Sood are under the scanner of the department, official sources had said

CBDT extends deadline for filing Income Tax returns for AY 2021-22 to 31 December
Business

CBDT extends deadline for filing Income Tax returns for AY 2021-22 to 31 December

This comes merely a day after the income tax department said a number of technical issues on the new ITR portal are being progressively addressed and 1.19 crore ITRs for 2020-21 fiscal year have been filed so far.

CBDT says income tax portal's technical issues being progressively addressed; 1.19 crore ITRs filed
Business

CBDT says income tax portal's technical issues being progressively addressed; 1.19 crore ITRs filed

The Income Tax Return (ITR) filing has increased to 3.2 lakh daily in September 2021.

I-T department issues three email IDs for registering grievances under faceless assessment scheme
India

I-T department issues three email IDs for registering grievances under faceless assessment scheme

Under the faceless assessment system, a taxpayer or an assessee is not required to visit an I-T department office or meet a department official for income tax-related businesses.

Centre exempts income tax for COVID-19 treatment funds: Here are key points to claim benefit
India

Centre exempts income tax for COVID-19 treatment funds: Here are key points to claim benefit

Additionally, ex-gratia payments received from employers in case of employees' death due to COVID-19 will also be exempt from income tax in fiscal 2019-20 and subsequent years

ITR due date extension: Centre extends FY21 filing deadline for individual tax payers to 30 Sep
India

ITR due date extension: Centre extends FY21 filing deadline for individual tax payers to 30 Sep

The deadline for issuing Form 16 by employers to employees has also been extended by a month till 15 July, 2021, the CBDT said

'Not so sasti anymore': Taapsee Pannu's rebuttal to Nirmala Sitharaman's claims on IT raids
Entertainment

'Not so sasti anymore': Taapsee Pannu's rebuttal to Nirmala Sitharaman's claims on IT raids

"Not so sasti anymore," Taapsee Pannu responds to the IT raids at her place, referring to Kangana Ranaut's "sasti copy" remark from 2019

Income Tax department raids premises linked to Taapsee Pannu, Anurag Kashyap's Phantom Films
Entertainment

Income Tax department raids premises linked to Taapsee Pannu, Anurag Kashyap's Phantom Films

Income Tax officials said the searches are part of a tax evasion probe and conducted at about 20 locations in Mumbai and Pune.

GST authorities arrest 215 persons in fake invoice cases, recover Rs 700 crore over two months
India

GST authorities arrest 215 persons in fake invoice cases, recover Rs 700 crore over two months

Those arrested include managing directors, proprietors and partners of business and trade entities either involved in availing or utilising the ineligible input tax credit fraudulently

Diljit Dosanjh shares income tax certificate on Twitter to refute reports of I-T Department probe
India

Diljit Dosanjh shares income tax certificate on Twitter to refute reports of I-T Department probe

The actor-singer has been actively supporting the ongoing farmers' protests against the new agri legislations

ITR 2019-20 filing last date till 31 December: Here's the list of documents and steps to file income tax returns online
India

ITR 2019-20 filing last date till 31 December: Here's the list of documents and steps to file income tax returns online

With the ITR filing last date approaching closer, taxpayers, who are yet to file returns, should do it as early as possible to avoid any last-minute rush or error.

Income Tax Return for AY 2020-21: Steps and documents needed to e-file your ITR
India

Income Tax Return for AY 2020-21: Steps and documents needed to e-file your ITR

ITR 2020-2021 | The last date to file income tax return (ITR) for assessment year (AY) 2020-21 has been extended till 30 November.

Donald Trump's taxes show chronic losses and many years of income tax avoidance
World

Donald Trump's taxes show chronic losses and many years of income tax avoidance

One Trump enterprise that has been regularly profitable and is a persistent source of concern about ethical conflicts and national security lapses, is the Mar-a-Lago club

Faceless assessment and appeal, taxpayer charter: Decoding Narendra Modi's new reforms
India

Faceless assessment and appeal, taxpayer charter: Decoding Narendra Modi's new reforms

Under faceless assessment, a central computer picks up tax returns for scrutiny based on risk parameters and mismatch and then allots them randomly to a team of officers.

Donald Trump cannot deny or block release of his financial records, rules US Supreme Court
World

Donald Trump cannot deny or block release of his financial records, rules US Supreme Court

The court’s decision was a major statement on the scope and limits of presidential power in the US, one that will take its place with landmark rulings

Income Tax Department extends deadline for filing IT returns for FY 2019-20 to 30 November
India

Income Tax Department extends deadline for filing IT returns for FY 2019-20 to 30 November

Earlier, the return on income earned between 1 April, 2019, and 31 March, 2020, was due by 31 July

Income Tax Department notifies minimum fees for managers of India-based offshore funds
Business

Income Tax Department notifies minimum fees for managers of India-based offshore funds

The income tax department has notified the minimum fee to be received by India-based fund managers of an overseas fund

Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity
Business

Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity

The tax department on Friday said it has issued I-T refunds of Rs 26,242 crore to 16.84 lakh taxpayers since April as part of efforts to hasten refund process for making liquidity available with people and firms to deal with COVID-19 crisis

Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates
Business

Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates

Nirmala Sitharaman, who had over the last week announced an economic package to help revive the economy, said how the coronavirus and the lockdown has hurt revenues is yet to be completely assessed.