I-T department asks top corporates, HNIs to settle tax disputes
The government aims to mop up around Rs 9.32 lakh crore from across the country by resolving disputes of the said amount through the scheme and meet its shortfall in direct-tax collections.
I-T Department seizes assets worth Rs 1,052 cr till January this fiscal
Replying to a question in the Rajya Sabha, Sitharaman further said in...
Coronavirus impact: I-T dept allows more time to individuals to file TDS exemption forms
In an order, the Central Board of Direct Taxes (CBDT...
Tax dept asks officers working from home to chase large taxpayers for dues
I-T dept has asked field formations to contact large taxpayers to follow up on pending collections.
Govt open to suggestions for better implementation of Vivad Se Vishwas scheme: CBDT chief
As many as 4.83 lakh direct tax cases involving Rs 9.32 lakh crore in disputed taxes are locked in various appellate forums. The amount is equivalent to 82 per cent of the government's direct tax revenue in FY19.
CBIC orders customs refunds & drawbacks
The directive to field offices follows the finance ministry’s Wednesday order of immediately releasing Rs 18,000 crore in pending income tax, goods and service tax (GST) and customs refunds to individuals and businesses. About 50% of the amount is estimated to be for GST and customs refunds, officials said.
Vivaad se Vishwas gives chance to slay demonetisation demons
Vivaad se Vishwas scheme looks like a blessing for those who came under scrutiny following demonetisation.
Government considers tax compliance breather
India could look at offering relaxation on various tax compliances, addressing demands from taxpayers for easing up on regulations amid the Covid-19 outbreak.
Remuneration paid to directors to attract GST: AAR
In an application filed before the Rajasthan bench of the AAR, Clay Craft India Pvt Ltd had sought clarification on whether salaries paid to directors would attract Goods and Services Tax. The company said its directors are working as employees for which they are being compensated by way of a regular salary and other allowances.
Covid-19 impact: Tax and duty relief likely in package for industry
The second relief package may include tax concessions for industry sectors hit hard by Covid-19.
Coronavirus impact: Income Tax Department cautions against breach in e-filing accounts
"If you think your e-filing account many have been compromised or accessed in an unauthorised manner, then you may be a victim of cybercrime," the department said in an advisory.
Income tax department to reward officials for good performance
Officers who have unearthed unique modus operandi by tax evaders, helped in tax mop-ups and even those who have implemented the Prime Minister’s Swachh Bharat Abhiyan will be feted. The Central Board of Direct Taxes (CBDT) has decided to award such officials at public ceremonies and use their body of work for future references.
Government to deposit Rs 1,000 in women PMJDY accounts in two instalments
Meanwhile, state-owned SBI, which has the highest number of PMJDY accounts, asked the beneficiaries not to believe in rumours that the money will be taken away by the government if not withdrawn amid large numbers of people flocking banks.
Government extends term of Banks Board Bureau members by two years
The Appointments Committee of the Cabinet has approved extension of term of existing part-time chairman and members of the BBB for a period of two years beyond April
I-T detects Rs 2K-cr unaccounted income
The Central Board of Direct Taxes (CBDT) said in a statement Thursday, that search and seizure operations were carried out on February 6, across 40 premises in Hyderabad, Vijaywada, Cuddapah, Vishakhapatnam, Delhi and Pune.
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