Tax Department

Jet Airways revival: Asking banks to write off Rs 8,500-cr outstanding is unfairness at its worst

There is no reason why the SBI-led lenders' consortium should not prevail upon the new promoters to carry the dues as a liability in Jet Airways’ balance sheet with a moratorium period of, say 10 years.

ED moves court seeking NBW against four directors of Sterling Biotech in Rs 5,000 cr case; hearing on 5 Jan

ED sought warrants against Sterling Biotech directors Nitin Jayantilal Sandesara, Chetankumar Jayantilal Sandesara, Dipti Chetan Sandesara and Hiteshkumar Narendrabhai Patel.

Black money: Swiss government agrees to share details of two Indian firms, 3 individuals facing multiple probes

As per separate gazette notifications of the Swiss government, the country's federal tax department has agreed to provide 'administrative assistance' to India on requests made about Geodesic Ltd and Aadhi Enterprises Private Ltd.

Working with tax department, regulators to ease rules for startups: DIPP secretary Ramesh Abhishek

"We are easing regulations for startups. We are also working with the tax department and regulators, and we have been able to simplify 24 regulations so far," DIPP Secretary Ramesh Abhishek said

Govt unveils draft GST returns forms, seeks public comments; industry welcomes move

The returns form was cleared by the Goods and Services Tax Council in its last meeting on 21 July.

Know of a 'benami' transaction or property? Inform the taxman and you could pocket as much as Rs 1 cr

The 'Income Tax Informants Reward Scheme' has also been amended under which a person can get reward up to Rs 50 lakh for giving specific information about substantial evasion of tax on income or assets in India, which are actionable under the Income-tax Act, 1961.

Income Tax dept freezes Cognizant's bank accounts in Chennai, Mumbai after firm failed to pay Rs 2,500 cr DDT

Cognizant's accounts were frozen a week back and it had approached the High Court against the tax department

Indian banks may lose over Rs 19,000 cr due to Punjab National Bank fraud, estimates tax department

Indian banks could take a hit of more than Rs 19,272 crore ($3 billion) from loans and corporate guarantees provided to diamond companies at the centre of a massive alleged fraud at the state-run PNB

Govt de-activates 11.44 lakh PANs: Four easy steps to find out whether your card is active

IT department sends you an OTP or one-time password on your mobile, you need to enter then the number in the given space to 'Validate.'

I-T department issues 1.62 cr refunds worth Rs 1.42 lakh cr; 41.5% higher than last year

As many as 4.01 crore ITRs were e-filed till February 10, 2017, an increase of 20 percent over the previous year.