Income Tax Department

Irregularities, inconsistencies in tax payments: Income Tax Department on BBC offices 'survey'

IT Department in a statement said the income and profits shown by various BBC group entities are not commensurate with the scale of their operations in India

Income Tax officials continue to survey BBC offices in India: What does this mean and is it different from a raid?

Income Tax sleuths continue their survey at the BBC offices in India for a second day to investigate the alleged tax evasion. Though #ITraid started trending since then, officials have pointed out that their operations are different from an I-T raid. But what exactly is the difference?

What is Long-term capital gains tax? All you need to know

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

IT slaps Rs 37.5 lakh 'due' notice to daily wager in Bihar

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.

Here's why you need to still file your income tax return after paying TDS

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

Disproportionate assets case: DK Shivakumar moves High Court against CBI

The Income Tax Department conducted a search of Shivakumar's properties in Karnataka and Delhi on 2 August 2017

Missed 31 July ITR deadline? Don’t fret, here’s what you need to know

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

ITR filing Assessment Year 2022-23 last date today: Nearly 34 lakh returns filed till 4 pm

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

Centre’s new e-filing portal hit by technical snags; IT dept blames 'irregular traffic'

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