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central board of direct taxes
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Government doubles penalty for missing ITR due date this year
Hindustan Times, New Delhi | By hindustantimes.com | Edited by Ayshee Bhaduri
UPDATED ON DEC 30, 2020 06:49 PM IST
This year the government has raised the penalty amount for missing the deadline, by imposing a fine upto Rs.10,000 as opposed to the Rs.5,000 imposed last year. The practise of charging late filing fees under Section 234F was introduced in the Budget of 2017.
Income tax return: Last date for filing is Dec 31. Here is how to file yours online
Hindustan Times, New Delhi | By hindustatimes.com | Edited by Meenakshi Ray
UPDATED ON DEC 29, 2020 12:58 PM IST
According to rules, those who earn Rs 250,000 or more annually are mandatorily required to file ITRs. The limit for senior citizens or those between 60 years and 80 years of age is Rs 500,000.
Government to launch a mobile phone app for taxpayers to access income tax services
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON OCT 29, 2020 05:30 PM IST
The Central Board of Direct Taxes introduced a new Form 26AS in July this year to handhold taxpayers in filing their correct income tax returns
I-T department raids Srinagar, Delhi offices of business group, discovers investments worth Rs 100 crore
Hindustan Times, Srinagar | By HT Correspondent | Edited by Joydeep Sen Gupta
UPDATED ON OCT 24, 2020 01:54 PM IST
The CBDT authorities said the group is engaged in multiple businesses, including construction and renting of commercial and residential complexes in Srinagar, hospitality, handicraft, carpets, trading etc
ITR filing: Deadline for assessment year 2019-20 extended to November 30
Hindustan Times, New Delhi | By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON SEP 30, 2020 06:02 PM IST
This is the fourth time that the date has been revised amid the Covid-19 pandemic. It was first revised till June 30, then July 31, then September 30 and now till November 30.
CBDT chairman Pramod Mody gets extension, will be involved in Budget preparation
Hindustan Times, New Delhi | By HT Correspondent
PUBLISHED ON AUG 31, 2020 09:50 PM IST
Pramod Chandra Mody was due to relinquish office on Monday after ending the first one-year extension period.
I-T dept to begin voluntary tax compliance e-campaign from Monday
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUL 18, 2020 08:11 PM IST
The objective of the e-campaign is to facilitate taxpayers to online validate their returns or financial transaction information available with the I-T department and promote voluntary compliance.
CBDT’s new Form 26AS will remind taxpayers to file major financial transactions
Hindustan Times, New Delhi | By Rajeev Jayaswal| Edited by Sabir Hussain
UPDATED ON JUL 18, 2020 07:25 PM IST
The Central Board of Direct Taxes (CBDT) has introduced a new auto-generated ‘Form 26AS’ which will handhold taxpayers while filing their ITRs in a faceless manner from the current assessment year .
CBDT allows taxpayers to regularise past I-T returns
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON JUL 14, 2020 08:56 PM IST
This one-time relaxation is available to those taxpayers who could not get their tax returns validated from the assessment year 2015-16 to 2019-20, a finance ministry official said.
Election Commission to take strict action against candidates filing false affidavits
Hindustan Times, New Delhi | By HT Correspondent | Edited by Sparshita Saxena
UPDATED ON JUN 17, 2020 01:05 PM IST
In a meeting, chaired by chief election commissioner Sunil Arora and attended by election commissioners Ashok Lavasa and Sushil Chandra, the issue was discussed at length.
Refunds worth Rs 26,242 crore processed since April 1, says tax department
Hindustan Times, New Delhi | By hindustantimes.com | Edited by: Amit Chaturvedi
UPDATED ON MAY 22, 2020 03:07 PM IST
Finance Minister Nirmala Sitharaman had announced a slew of measures to tide over Covid-19 crisis last week including slashing of TDS/TCS rate for non-salary payments by 25 per cent.
IRS officers pitch 40% tax rate plus Covid relief cess, under probe
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON APR 27, 2020 12:27 AM IST
The suggestions were made in a report titled Fiscal Options & Response to Covid-19 Epidemic (FORCE) and released to the media on the IRS Association’s Twitter handle and website.
Emails to seek tax updates not recovery notices, clarifies tax department
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON APR 21, 2020 01:45 PM IST
The CBDT was responding to certain observations made in social media that alleged that income tax department is pursuing recovery proceedings.
Income Tax dept to share taxpayers’ PAN, other data with Sebi
New Delhi | By Press Trust of India
PUBLISHED ON FEB 12, 2020 03:33 PM IST
The two organisations are expected to ink a Memorandum of Understanding (MoU) soon in order to implement the decision and chalk out modalities of exchange of data, maintenance of confidentiality, mechanism for safe preservation of data and weeding out after usage.
Tax department lets joint property owners file returns using simple forms
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JAN 11, 2020 06:02 AM IST
The notification by the tax department came in the backdrop of users expressing concern over its January 3 order. The department had then said that individual taxpayers possessing a house property in joint ownership were not eligible to file returns through these two forms.
Ensure GST collection is Rs 1.1 lakh crore every month, government tells officials
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON DEC 17, 2019 04:23 PM IST
Taxmen have been told that the corporate tax relief worth Rs 1.45 lakh crore should not be taken as an excuse for lesser direct tax collection target.
Businesses over Rs 50 crore must have electronic payment mode from November 1: CBDT
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON OCT 18, 2019 09:54 PM IST
The top body of the income tax department said no bank or provider of a digital payment system shall “impose any charge on a payer making payment, or a beneficiary receiving payment” through electronic modes.
Centre may not apply new TDS rules to some sectors
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON SEP 11, 2019 07:32 AM IST
The officials said the government is considering providing relief to some sectors, which mostly deal in cash.
I-T attaches shares worth Rs 254 cr of Ratul Puri’s firm
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUL 31, 2019 06:12 PM IST
The action came after the department found that the transaction was made through shell companies involving a suspect in the AgustaWestland chopper scam, government officials said.
No change in tax forms, says I-T dept; 1.38 cr returns filed already
Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON JUL 16, 2019 10:25 PM IST
CBDT further clarified that the updating of utility do not hamper filing of return as the taxpayers are allowed to file using the utility which is available at that point of time. For example, more than 85 lakh taxpayers have filed returns in ITR-1 till date by using the said utility which has also undergone update later.
Pension with disability benefits for soldiers who served full term to be taxed
New Delhi | By HT Correspondent
UPDATED ON JUN 26, 2019 05:03 PM IST
Granting such income tax exemptions date back to 1922 and were among the incentives the British offered to make military services lucrative for Indians.
Tax relief for senior citizens upto Rs 5 lakh
Hindustan Times, New Delhi | By Rajeev Jayaswal
PUBLISHED ON MAY 24, 2019 10:17 PM IST
“Earlier, banks did not deduct tax at source for total income not exceeding Rs 4.5 lakh; that included Rs 3 lakh under tax-exempt category and Rs 1.5 lakh tax benefit under [section] 80C,” the first official said.
Election Commission meets CBDT chairman, revenue secretary to discuss I-T raids
Hindustan Times, New Delhi/Bhopal | By HT Correspondent
UPDATED ON APR 09, 2019 11:53 PM IST
Revenue Secretary A B Pandey and CBDT Chairman P C Mody have been called to explain the raids amid allegations by the Congress that the ruling BJP was using enforcement agencies to target it during the poll season.
Rs 281-cr cash collection racket in MP linked to political party: I-T dept
Hindustan Times, Bhopal/New Delhi | By HT Correspondent
UPDATED ON APR 09, 2019 08:21 AM IST
It said that meticulous records of collections and disbursement of cash had also been found in the form of hand-written diaries, computer files and excel sheets which had been found and seized.
Govt extends deadline for linking PAN with Aadhaar till Sep 30
New Delhi | By Press Trust of India
UPDATED ON MAR 31, 2019 08:55 PM IST
In June last year, the government had said that PAN has to be linked with the biometric ID by March 31.
Direct tax collection falls short, CBDT raises alarm
New Delhi | By Press Trust of India
UPDATED ON MAR 28, 2019 06:43 PM IST
The CBDT’s (Central Board of Direct Taxes) disappointment at this situation and has asked the supervisory tax officials to pull up their socks and ensure no stone remains unturned to achieve the target.
High value cars, jewellery to become cheaper as TCS amount to be excluded while computing GST liability
New Delhi | By Press Trust of India
UPDATED ON MAR 10, 2019 12:24 PM IST
Under the Income Tax Act, tax collection at source (TCS) is levied at 1 per cent on purchase of motor vehicles above Rs 10 lakh, jewellery exceeding Rs 5 lakh and bullion over Rs 2 lakh. TCS is also levied on other purchases at different rates.
In 2 years, income tax payers to start getting refunds within 24 hours
New Delhi | By Press Trust of India
UPDATED ON FEB 05, 2019 03:30 PM IST
The government has already sanctioned Rs 4,200 crore last month for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
Quoting father’s name not mandatory in PAN application: Income Tax department
New Delhi | By Press Trust of India
UPDATED ON NOV 20, 2018 09:03 PM IST
Quoting father’s name in PAN application won’t be mandatory: I-T department
Average income of salaried, non-salaried, corporate taxpayers rises over last 3 years: CBDT
New Delhi | By Press Trust of India
UPDATED ON OCT 22, 2018 06:14 PM IST
CBDT Chairman Sushil Chandra said that the contribution of direct taxes to the total revenue kitty in the country is the highest and stands at 52 per cent at present.
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