[

central board of direct taxes

]
According to the rules, individuals below 60 years of age earning Rs 250,000 or more annually are mandatorily required to file ITRs(pradeep gaur/mint)

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.
The income tax office is seen in this file photo in Delhi.(Pradeep Gaur/ Mint Photo)
The income tax office is seen in this file photo in Delhi.(Pradeep Gaur/ Mint Photo)

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.
Representational photo.(Getty Images/iStockphoto)
Representational photo.(Getty Images/iStockphoto)

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
Representational photo.(Getty Images/iStockphoto)
Representational photo.(Getty Images/iStockphoto)

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
The date has been revised keeping in mind the difficulties being faced by taxpayers amid the Covid-19 pandemic. (HT photo)
The date has been revised keeping in mind the difficulties being faced by taxpayers amid the Covid-19 pandemic. (HT photo)

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.
Pramod Chandra Mody will continue as chairman of the Central Board of Direct Taxes (CBDT) .(Mint)
Pramod Chandra Mody will continue as chairman of the Central Board of Direct Taxes (CBDT) .(Mint)

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.
Under the e-campaign, the department will send emails and SMSes to identified taxpayers to verify their financial transactions that taxmen have received from various sources, it said.(Photo:Pradeep Gaur/Mint)
Under the e-campaign, the department will send emails and SMSes to identified taxpayers to verify their financial transactions that taxmen have received from various sources, it said.(Photo:Pradeep Gaur/Mint)

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.
Form 26AS will be used form the current fasessemtn year, the CBDT said.(Getty Images/iStockphoto)
Form 26AS will be used form the current fasessemtn year, the CBDT said.(Getty Images/iStockphoto)

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 .
This is an opportunity for the taxpayers to regularise their tax returns filed for various past years which had the risk of being considered as non-est for want of verification. (HT Photo)
This is an opportunity for the taxpayers to regularise their tax returns filed for various past years which had the risk of being considered as non-est for want of verification. (HT Photo)

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.
File photo.(AFP)
File photo.(AFP)

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.
The government had last week slashed TDS (tax deducted at source)/TCS (tax collected at source) rate for non-salary payments by 25% for the remaining months of the fiscal(Pradeep Gaur/Mint File Photo)
The government had last week slashed TDS (tax deducted at source)/TCS (tax collected at source) rate for non-salary payments by 25% for the remaining months of the fiscal(Pradeep Gaur/Mint File Photo)

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.
The two officials, who both requested anonymity, said the government had “summarily” dismissed the suggestions which it judged as ill-conceived.(File photo for representation)
The two officials, who both requested anonymity, said the government had “summarily” dismissed the suggestions which it judged as ill-conceived.(File photo for representation)

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.
The CBDT said that income tax department had sent emails seeking clarification from assessees who were entitled to get tax refund, but also had outstanding tax to pay.(Pradeep Gaur/ Mint)
The CBDT said that income tax department had sent emails seeking clarification from assessees who were entitled to get tax refund, but also had outstanding tax to pay.(Pradeep Gaur/ Mint)

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.
The sharing of information between the I-T dept and Sebi will be under three broad heads: request-based exchange of data, suo moto and automatic.(HT File)
The sharing of information between the I-T dept and Sebi will be under three broad heads: request-based exchange of data, suo moto and automatic.(HT File)

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.
The Central Board of Direct Taxes issued a notification allowing joint owners of a single house property to file income tax returns under Form-1 (Sahaj) or Form-4 (Sugam).(Yogendra Kumar/HT File Photo)
The Central Board of Direct Taxes issued a notification allowing joint owners of a single house property to file income tax returns under Form-1 (Sahaj) or Form-4 (Sugam).(Yogendra Kumar/HT File Photo)

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.
Government also told the officers to exhort themselves to reach the target of Rs 13.5 lakh crore in direct taxes.(PTI Photo)
Government also told the officers to exhort themselves to reach the target of Rs 13.5 lakh crore in direct taxes.(PTI Photo)

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.
In order to facilitate both companies and their clients, the government has decided to “prescribe” certain modes of payments for the purposes of “Section 269SU,” it said.(Photo: Hemant Mishra/Mint)
In order to facilitate both companies and their clients, the government has decided to “prescribe” certain modes of payments for the purposes of “Section 269SU,” it said.(Photo: Hemant Mishra/Mint)

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.
As per the law, the Union government has the power to exempt certain individuals or certain sectors from TDS in consultation with the Reserve Bank of India (RBI), a second official said.(Shankar Mourya/HT Photo)
As per the law, the Union government has the power to exempt certain individuals or certain sectors from TDS in consultation with the Reserve Bank of India (RBI), a second official said.(Shankar Mourya/HT Photo)

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.
The income tax (I-T) department has “provisionally” attached equity shares worth Rs 254 crore related to companies of businessman Rahul Puri.(PTI Photo)
The income tax (I-T) department has “provisionally” attached equity shares worth Rs 254 crore related to companies of businessman Rahul Puri.(PTI Photo)

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.
Even though the utility is being updated regularly to provide ease to taxpayers, the returns filed by using the previous version of utility will continue to be valid, CBDT said.(Representative photo)
Even though the utility is being updated regularly to provide ease to taxpayers, the returns filed by using the previous version of utility will continue to be valid, CBDT said.(Representative photo)

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.
Disability pension and the pension soldiers, who have served their full tenure with the three services of the armed forces, get will no longer be exempt from income tax (AP Photo)
Disability pension and the pension soldiers, who have served their full tenure with the three services of the armed forces, get will no longer be exempt from income tax (AP Photo)

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.
A notification to this effect was issued on Wednesday, but CBDT is considering issuing an explanatory statement in simple, non-technical language, given the immense implications for senior citizens who pay taxes, said the official.(HT Photo)
A notification to this effect was issued on Wednesday, but CBDT is considering issuing an explanatory statement in simple, non-technical language, given the immense implications for senior citizens who pay taxes, said the official.(HT Photo)

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.
Revenue Secretary A B Pandey and CBDT Chairman P C Mody had 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.(ANI)
Revenue Secretary A B Pandey and CBDT Chairman P C Mody had 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.(ANI)

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.
IT raids underway at the residence of Praveen Kakkar, OSD to Madhya Pradesh Chief Minister Kamal Nath, in Bhopal on Sunday.(Mujeeb Faruqui/HT Photo)
IT raids underway at the residence of Praveen Kakkar, OSD to Madhya Pradesh Chief Minister Kamal Nath, in Bhopal on Sunday.(Mujeeb Faruqui/HT Photo)

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.
A woman getting her fingerprints read during the registration process for Aadhaar cards in Amritsar.(AFP File Photo)
A woman getting her fingerprints read during the registration process for Aadhaar cards in Amritsar.(AFP File Photo)

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.
The Central Board of Direct Taxes (CBDT) frames policy for the I-T department and is also its controlling authority that functions from the North Block in the Finance Ministry.(HT PHOTO/Representative Image)
The Central Board of Direct Taxes (CBDT) frames policy for the I-T department and is also its controlling authority that functions from the North Block in the Finance Ministry.(HT PHOTO/Representative Image)

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.
The Central Board of Indirect Taxes and Customs (CBIC) in a circular said that the TCS amount would be excluded from the value of goods while computing the Goods and Services Tax (GST) liability.(Reuters/Picture for representation)
The Central Board of Indirect Taxes and Customs (CBIC) in a circular said that the TCS amount would be excluded from the value of goods while computing the Goods and Services Tax (GST) liability.(Reuters/Picture for representation)

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.
Revenue Secretary Ajay Bhushan Pandey said currently refunds are processed online in an automated manner(Sonu Mehta/ Hindustan Times)
Revenue Secretary Ajay Bhushan Pandey said currently refunds are processed online in an automated manner(Sonu Mehta/ Hindustan Times)

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.
The new rules would come into effect from December 5.(HT FIle Photo)
The new rules would come into effect from December 5.(HT FIle Photo)

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
A cashier checks rupee notes inside a room at a fuel station in Ahmedabad on September 20.(REUTERS)
A cashier checks rupee notes inside a room at a fuel station in Ahmedabad on September 20.(REUTERS)

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.
SHARE
  • 1
  • 2
  • ...
Story Saved