Income Tax Department
Income Tax Department News
Capital gain occurs when a person earns a profit by selling capital assets. This is defined as any kind of property held by the individual, jewellery and artwork
Income-Tax department is stepping into "new areas" to combat tax evasion, says CBDT Chairman Nitin Gupta
The Chairman said that data and risk analysis is being used to identify which cases have potential for investigation. 'We are touching new areas and various sectors of the economy which were never touched like asset reconstruction companies, gaming, betting etc.,' he said
In the complaint Girish wrote that the notice identifies him as someone associated with a Rajasthan based private company however he claims to have never visited the state.
TDS is the tax deducted at source and represents only a part of the income tax that you are liable to pay, if you are above the exemption limits set by the government
The Income Tax Department conducted a search of Shivakumar's properties in Karnataka and Delhi on 2 August 2017
Those who missed the 31 July deadline for the 2022-2023 Assessment Year can still file belated income tax returns until 31 December. However, they will have to cough up late fees and interest
According to tax laws, a Rs 5,000 late fee would be payable by people having an annual income of over Rs 5 lakh, if they file their ITR by 31 December of the assessment year
The new tax e-filing portal was launched on 7 June, 2021, and Infosys was paid Rs 164.5 crore to develop it. The website had also faced snags on the first anniversary of its launch when many users complained that they were unable to log in into the portal
Sharad Pawar said he has received notices from the Income Tax Department in regard with the affidavits filed by him during the 2004, 2009, 2014 and 2020 Lok Sabha elections
The court issued summon order to DK Shivakumar taking cognisance of a chargesheet filed by the Enforcement Directorate
Taxpayers filing ITR-U, which can be filed within 2 years of the end of the relevant assessment year, will have to give reasons for updating the income
For filing belated tax returns, a fine of Rs 5,000 will also be imposed on individuals with an annual income of more than Rs 5 lakh.
Income Tax department detects Rs 224-crore undisclosed income after raiding start-up firm Infra.Market
The searches were launched on 9 March at the firm's 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh
There are instances of businessmen giving their black money to other people and getting it back as a loan. Called ‘Entries’, this is how black money would get converted into white
The raids are being carried out at premises in the National Capital Region, Mumbai, Bengaluru, Kolkata, Chennai and Hyderabad, among others, officials said
In a statement, Vedanta said it has used a recently enacted law to settle the tax dispute. As conditions for the same, it has withdrawn all legal challenges against the government and given an undertaking to forego all future rights pertaining to the tax demand
The authorities have seized Jarandeshwar Sahakari Sugar Karkhana in Maharashtra, a resort in Goa as well as an office at Nirmal Tower in south Mumbai
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
The CBDT also accused Sood of violating the Foreign Contribution Regulation Act (FCRA) while raising donations from abroad.
As per officials, the operations are being conducted to verify certain tax payment details and remittances made by the news organisations