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Latest Articles in income tax department

Corporate Tax Collection Up 34% In April-July

The tax department tweeted on corporate tax collection growth in April-July in an apparent attempt to counter criticism of the 2019 reduction in tax rates for companies which was alleged to have dented the Centre's revenue collections, impacting its spending on social welfare schemes

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I-T Dept Detects Over Rs 150 Cr Black Income After Raids On Rajasthan Group

The Board said the department has seized "unaccounted assets" of over Rs 11 crore so far

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Income Tax Dept Finds Rs 150 Cr Blackmoney After Raids On 2 Tamil Nadu Groups

More than Rs 14 crore unaccounted cash, and gold and jewellery worth over Rs 10 crore was seized

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Over 30 Mn Income Tax Return Filed Till Date For FY 2021-22: I-T Dept

ITR filing is an annual activity seen as a duty of every responsible citizen of the nation. Taxpayers can claim the refund of the excess tax paid/deducted during a financial year by filing it

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I-T Portal Develops Snag On First Anniversary, Infosys Directed To Fix Issue

Many users complained that they were unable to log in into the portal, while some complained malfunctioning of the search functionality

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Income Tax Dept Raids Business Groups In At Least 5 States

Premises of the business groups in Delhi, Haryana, Karnataka, Maharashtra and Madhya Pradesh are being searched as part of separate probes

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I-T Dept Conducts Searches At Maharashtra Based Startup Group

"A large amount of incriminating evidence in the form of hard copy documents and digital data has been found and seized during the search operations," according to the statement

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Over 6.63 Cr ITRs And 99.27 Lakh Statutory Forms Filed On IT Portal

Over 43 per cent of these ITRs have been filed using the online ITR form on the portal and the balance has been uploaded using the ITR created from the offline ITR preparation software utilities, including departmental software

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I-T Dept Raids Former NSE MD Chitra Ramkrishna In Tax Evasion Probe

Ramkrishna hit the headlines after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges

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Over 29.8 lakh TARs Filed On E-Filing Portal Of IT Dept: Centre

The ministry informed that out of 29.8 lakh of the major statutory forms, over 2.65 lakh Form 3CA-3CD and around 24.5 lakh Form 3CB-3CD have been filed in fiscal year (FY) 21-22. More than 2.71 lakh other Tax Audit Reports have been filed till February 15.

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Over 6.2 Cr ITRs And About 21 Lakh TARs Filed On E-filing Portal Of IT Dept: Centre

The ministry said that out of 6.2 crore ITRs filed for AY 2021-22, 48 per cent of these are ITR-1 (2.97 crore), 9 per cent is ITR-2 (56 lakh), 13 per cent is ITR-3 (83 lakh), 27 per cent are ITR-4 (1.66 crore), ITR-5 (11.3 lakh), ITR-6 (5.2 lakh) and ITR-7 (1.41 lakh).

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I-T Refunds Of Rs 1.50T Issued Till January 3 This Fiscal Year

Of this, income tax refunds of Rs 51,194 crore have been issued in 1.46 crore cases and corporate tax refunds of Rs 99,213 crore have been issued in over 2.19 lakh cases.

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I-T Dept Detects Evasion Worth Crores After Raids On 'Foreign-Controlled' Mobile Companies

The searches were carried out on December 21 and premises in Karnataka, Tamil Nadu, Assam, West Bengal, Andhra Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Bihar, Rajasthan and Delhi-NCR were covered.

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3.59 Cr ITR Filed On E-portal: IT Department

"Nearly 52 per cent of these ITRs have been filed using the online ITR form on the portal and the balance has been uploaded using the ITR created from the offline software utilities," it added.

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CBDT Issues Refunds Of Rs. 1,32,381 Cr To Over 1.19 Cr Taxpayers

Over 52 per cent of these ITRs are filed using the online ITR form on the portal and the balance are uploaded using the ITR created from the offline software utilities, the statement added.

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