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Latest Articles in income tax department

Income Tax Department Officials At Premises Linked To Actor Sonu Sood In Mumbai

The actor grabbed the national spotlight for helping migrants reach their home states during the nationwide lockdown clamped last year in the wake of the COVID-19 pandemic.

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CBDT Refunds Over Rs. 70,120 Crore To More Than 26.09 Lakh Taxpayers

It further added that the Income-tax refunds of Rs. 16,753 crore have been issued in 24,70,612 cases and corporate tax refunds of Rs. 53,367 crore have been issued in 1,38,801 cases, said the department.

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Past Losses Of PSUs Can Be Carried Forward, Clarify CBDT

Income Tax India took to Twitter and wrote, "CBDT issues clarification regarding carrying forward of losses in case of change in shareholding due to strategic disinvestment. Section 79 of the Income-tax Act, 1961 not to apply in a case involving a change in shareholding due to such strategic disinvestment."

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IT Dept ''Surveys'' News Websites In Tax Case, Say Officials

The money laundering case arises out of a Delhi Police FIR alleging that PPK Newsclick Studio Pvt Ltd received foreign direct investment (FDI) of Rs 9.59 crore from Worldwide Media Holdings LLC USA during the financial year 2018-19.

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Income Tax Department Extends Deadline For ITR Filing For FY21

Apart from that, the CBDT has also increased the deadline for ITR filing for companies till February 15, 2022, which was November 30, 2021, earlier.

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The Central Board Of Direct Taxes (CBDT) Declared Tax Refund

The Income Tax Department of India announced on Saturday, "The Central Board of Direct Taxes (CBDT) has issued refunds worth over Rs 67,401 crore to over 2.4 million taxpayers between April 1 and August 16.

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Delhi HC Orders Govt Not To Take Action Against NGO For Non-filing Of Annual Return

The petition also sought help from HC to restrict the income tax authorities from taking strong action against the trust and that the NGO be allowed to file its annual returns.

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Govt Extends Deadline For Various Tax Compliances, VsV Payments

The quarterly statement in Form 15CC to be furnished by authorised dealers in respect of remittances made for the June and September quarter can now be filed by November 30 and December 31 respectively.

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Three IRS Officers Appointed CBDT Members

IRS officer of the 1985-batch J B Mohapatra is currently holding the charge of CBDT chairman in an additional capacity.

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Nirmala Sitharaman Meets Infosys MD, Ask Him To Fix Glitches In IT Dept e-filing Portal Before 15 Sept

"Parekh explained that he and his team were doing everything to ensure smooth functioning of the portal. He assured hon'ble FM that Infosys is working expeditiously to ensure a glitch-free experience to taxpayers on the portal," Income Tax Department Tweeted.

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After Emergency Maintenance Income Tax Portal Live, Informs Infosys

The emergency maintenance of the Income Tax India portal has concluded and the portal is live. We regret any inconvenience caused to taxpayers, it tweeted.

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Bill To Nullify Retro Tax Will Give Impetus To India's $5 Tn Economy Goal: I-T Deptt

The bill proposes to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India.

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IT Dept Raids Dainik Bhaskar, Bharat Samachar; Govt Responds To Criticism Saying No Interference

The department is looking at charges of claiming bogus expenses and purchases by the group using certain dubious companies

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Agencies Doing Their Work, There Is No Interference: Anurag Thakur On Tax Raids On Media Houses

The Income Tax Department on Thursday conducted raids against the media group Dainik Bhaskar and Uttar Pradesh-based Hindi news channel Bharat Samachar in multiple cities on charges of tax evasion

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CBDT Claims Rs 880-Crore Concealed Income Detected After Survey On Leading Manpower Provinding Firm

The CBDT said the survey operation found that 'even though the emoluments of new employees added were more than Rs 25,000 per month, the assessee has been wrongfully claiming deduction under section 80JJAA by excluding certain components of emoluments of such employees to fit into the eligible emoluments limit'.

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