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Latest Articles in income tax

Income Tax Returns Filing For FY21 Crosses 5 Crore: I-T Department

Taxpayers who have not e-verified their ITRs for the financial year 2019-20 can complete the verification process by February 28, 2022, as the income tax department has given a one-time relaxation to assessees.

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Income Tax Refunds Of Over Rs 1.49 Trillion Issued So Far This Fiscal

This includes 1.07 crore refunds of AY 2021-22 (fiscal ended March 31, 2021), amounting to Rs 21,021 crore

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Over 40 Mn Income Tax Returns e-filed For FY21 So Far, Says I-T Dept

With December 31 being the last date for filing FY'21 income tax returns (ITRs) for individual taxpayers, there has been surge in e-filing and 46.77 lakh returns were filed in the last seven days.

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Finmin Officials Hold Review Meeting With Infosys Chief

In a statement on Thursday, the ministry said that Bajaj along with other senior ministry officials held a review meeting regarding the portal with Parekh.

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Over 3 Crore Income Tax Returns Filed For FY21: Finmin

The number of ITRs filed per day is over four lakh and rising as the extended deadline of December 31 is approaching, an official statement said.

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IT Dept Finds Rs 500 Cr Black Income After Raids On Jaipur Jewellery Group

The tax department also seized Rs 4 crore cash and jewellery valued at Rs 9 crore during the action against the unidentified group.

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Income Tax Refunds 1,12,489 Cr Issued This Fiscal: CBDT

This figure includes income tax refunds of Rs. 33,548 crore in 89,53,923 cases and corporate tax refunds of Rs. 78,942 crore in 1,75,692 cases.

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Income Tax Dept Conducts Searches At Hetero Group

The searches are being conducted at the firm''s headquarters, some of the manufacturing facilities and offices here and Visakhapatnam in Andhra Pradesh

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Grasim Industries Gets Rs 8,334 Crore Income Tax Demand

Deputy Commissioner of Income Tax (DCIT) has raised a demand for the assessment year 2018-19, Grasim Industries said in a regulatory filing.

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I-T Dept Asks Taxmen To Accept Applications Till Sep 30 For Settlement Before Interim Board

The Finance Ministry had received representations that a number of taxpayers were in advanced stages of filing their application for settlement before the ITSC as on February 1.

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IT Dept Detects Rs 300-Cr Black Money After Raiding 2 Chennai Financing Groups

The evidence found in the premises of the financiers and their associates revealed that these groups have lent to various big corporate houses and businesses in Tamil Nadu, a substantial portion of which is in cash

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Income Tax Dept Claims Multi-Crore Tax Evasion After Raids On Gujarat Diamond Group

The assessee, over these years, has accounted for the sale of about Rs 2,742 crore of small diamonds in its books, against which, substantial part of purchases were made in cash, but the purchase bills were taken from accommodation entry providers, it alleged.

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BJP Once Praised Sonu Sood, Now Considers Him Tax Evader: Sena On I-T Action Against Actor

The I-T officials had descended on the premises linked to Sood in Mumbai and some other places on Wednesday in connection with an alleged tax evasion probe

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CBDT Extends Deadline For Filing Application For Settlement

In order to dispose off the pending settlement applications as of 31.01.2021, the Central Government has constituted an Interim Board for Settlement (hereinafter referred to as the "Interim Board"), vide Notification no. 91 of 2021 dated 10.08.2021. The taxpayers, in the pending cases, have the option to withdraw their applications within the specified time and intimate the

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IT Dept Raids Telecom Equipment Trading Firm; Claims Incriminating WA Chats Recovered

The searches were launched on Monday at its five premises, including the corporate office, residence of foreign director, residence of company secretary, accounts person and the cash handler of a foreign subsidiary company in India

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