According to the latest data, between 8-20 April, the department issued nearly 14 lakh refunds involving an amount of over Rs 9,000 crore to various taxpayers
The income tax department has sent e-mails to 1.72 lakh assessees, including start-ups, companies and individuals, who have outstanding tax demands as well as tax refunds asking them to provide as update on the payment
I-T refunds worth Rs 4,250 cr issued in a week; to be credited in 5-7 days in taxpayer bank account: CBDT
The Income Tax department has issued over 10.2 lakh refunds worth Rs 4,250 crore within a week, the Central Board of Direct Taxes (CBDT) said on Wednesday
Income Tax Department asks taxpayers to guard against possible breach of their personal e-filing account
The Income-Tax Department has asked taxpayers to guard against possible breach of their personal e-filing account and report such an instance to the police cybersecurity wing
Coronavirus pandemic: Govt considering another package after 15 April to minimise impact, says report
There have been discussions about a package but nothing has been finalised yet, the official said, adding that the idea is to revive consumption, "so some measures might be needed."
Income tax: Taxpayers should evaluate previous, latest slabs before finalising option; here's all you need to know about two regimes
Seven slabs have been introduced for personal income tax. The tax rates on income up to Rs 15 lakh have been reduced to benefit the Indian taxpayers.
Nearly 81% employers feel new income tax regime not to benefit staff; communication with employees to become biggest challenge: Survey
They also fear the new income tax regime will deter employees from taking up voluntary benefits from their employers, and this will force those drawing higher incomes to look for other investment options.
Finance ministry expects at least 80% of taxpayers to move to new tax regime, says revenue secretary
The finance ministry expects at least 80 percent of the taxpayers to move to the new income tax regime, Revenue Secretary Ajay Bhushan Pandey said on Friday
Middle class people 'trained enough' to pick right income tax option: NITI Aayog vice-chairman Rajiv Kumar
NITI Aayog Vice Chairman Rajiv Kumar on Wednesday said the middle class is "trained enough" to decide which personal income tax option is good for them and exuded confidence that their propensity to save will not come down
Taxpayers' charter will empower citizens to get time-bound services from I-T dept: CBDT chairman Pramod Chandra Mody
The taxpayers' charter announced in the Budget will have a statutory status and it will "empower" citizens by ensuring time-bound services by the Income-Tax Department, the CBDT chief has said
GST collection crosses Rs 1 lakh cr mark for third month in a row in January; in line with set target
The GST collection is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after a high-level meeting with senior tax officials earlier this month.
Budget 2020: Abolishing dividend distribution tax, rationalising income tax slabs among most expected reliefs from Nirmala Sitharaman
This year’s Budget should look at increasing the limit of deduction under section 80C.
Budget 2020: Finance Minister Nirmala Sitharaman must consider announcement of implementation of proposed Direct Tax Code
One of the major demands of corporates is that the government should replace the dividend distribution tax on dividends with the withholding tax (WHT) on dividends
Govt expected to receive over Rs 39,500 cr under Sabka Vishwas Scheme; realisation a big booster amid revenue shortfall concerns
The Sabka Vishwas Scheme, which became operational on 1 September 2019, provides a one-time window to eligible persons to declare their tax dues and pay the same in accordance with the provisions.
CJI SA Bobde calls for speedy resolution of tax disputes, says move will free funds locked in litigation
The Chief Justice said tax judiciary plays a very important role in resource mobilisation of the country and expressed concern over pendency of cases.
Finance Minister Nirmala Sitharaman on Tuesday said the government is taking various steps to simplify taxation system and eliminate harassment of honest taxpayers
Large taxpayers yet to take benefits of Sabka Vishwas amnesty scheme; deadline not to be extended beyond 15 January
As many as 87.5 percent of the eligible taxpayers have taken advantage of Sabka Vishwas, a dispute resolution-cum-amnesty scheme
GST Council to set up grievance redressal mechanism for taxpayers; panel to be constituted for 2 years
The council will set up the Grievance Redressal Committee (GRC) at zonal and state levels consisting of both central tax and state tax officers, representatives of trade and industry and other GST stakeholders.
Amid concerns that the government may fall short of tax collection target in a slowing economy, the Centre has set an ambitious Rs 1.1 lakh crore monthly GST target for the remaining four months of the current fiscal and asked taxmen to step up efforts to achieve the goal
GST returns: How to prepare for new provisional credit rule; wrongful claim of ITC may attract penal provisions
Apart from the 20 percent of eligible ITC which he can claim as provisional credit, the balance tax due will need to be paid in cash.