Income tax department News: Income tax department Latest News and Headlines Today

Over the years, the income tax department has carried out several major reforms, including reduction in the corporate tax. The ‘Transparent Taxation - Honoring The Honest’ platform will further benefit the taxpayers.

PM Modi launches Transparent Taxation platform

Aug 13, 2020 09:23

Over the years, the income tax department has carried out several major reforms, including reduction in the corporate tax. The ‘Transparent Taxation - Honoring The Honest’ platform will further benefit the taxpayers. read more

The central probe agency has field a money laundering case against Hilal Rather and others, under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR and Income Tax Department probe against him and pertains to a Rs 177-crore alleged bank fraud scam.

Bank fraud case: ED raids former J-K minister’s son Hilal Rather

Aug 06, 2020 14:53

The central probe agency has field a money laundering case against Hilal Rather and others, under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR and Income Tax Department probe against him and pertains to a Rs 177-crore alleged bank fraud scam. read more

This is the third extension given by the government for taxpayers to file both original and revised tax returns for 2018-19 fiscal.

Govt extends income tax return filing deadline till September 30 for FY’19

Jul 30, 2020 00:18

This is the third extension given by the government for taxpayers to file both original and revised tax returns for 2018-19 fiscal. read more

According to officials, Girija Bai Tiwari (117), a resident of Bina town in Sagar district of Madhya Pradesh may be the oldest taxpayer in the country at present.

I-T dept felicitates 4 women centenarians in MP, Chhattisgarh for regular tax payments

Jul 28, 2020 22:44

According to officials, Girija Bai Tiwari (117), a resident of Bina town in Sagar district of Madhya Pradesh may be the oldest taxpayer in the country at present. read more

Reportedly, Vajpayee is a known industrialist in Kanpur city. He has allegedly worked for Dubey in property dealing and money-laundering.

UP govt urges I-T department, ED to probe Vikas Dubey’s close aide Jay Vajpayee

Jul 28, 2020 09:25

Reportedly, Vajpayee is a known industrialist in Kanpur city. He has allegedly worked for Dubey in property dealing and money-laundering. read more

Seized laptop, mobile phones of accused being scanned by cyber cell, income tax department informed about cash seizure, says police commissioner Gurpreet Singh Bhullar

Cricket betting racket busted in Jalandhar, Rs1.23 cr seized from ‘architect bookie’

Jul 26, 2020 19:06

Seized laptop, mobile phones of accused being scanned by cyber cell, income tax department informed about cash seizure, says police commissioner Gurpreet Singh Bhullar read more

The FATF is a global money laundering and terrorist financing watchdog that sets international standards to prevent illegal activities in the economic and financial channels of a country and its inter-connected linkages across the world.

FATF review of India’s anti-money laundering and terror financing regime pushed to 2021 due to Covid-19

Jul 26, 2020 15:24

The FATF is a global money laundering and terrorist financing watchdog that sets international standards to prevent illegal activities in the economic and financial channels of a country and its inter-connected linkages across the world. read more

According to an official source, the department has disposed of 7,116 cases under the first phase of the faceless assessment scheme that was launched in October last year.

No need to meet tax officer in case of scrutiny notice; use faceless assessment: I-T Dept

Jul 20, 2020 15:13

According to an official source, the department has disposed of 7,116 cases under the first phase of the faceless assessment scheme that was launched in October last year. read more

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’s new Form 26AS will remind taxpayers to file major financial transactions

Jul 18, 2020 18:22

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 . read more

In May, CBDT had notified the revised Form 26AS, containing details of tax collected or deducted at source which will now include information pertaining to property and share transactions.

New Form 26AS to have details of high-value financial transactions: CBDT

Jul 18, 2020 17:04

In May, CBDT had notified the revised Form 26AS, containing details of tax collected or deducted at source which will now include information pertaining to property and share transactions. read more

One of the persons whose premises were searched by the I-T sleuths includes – Rajiv Arora of Amrapali Jewels, who is also the Vice President of Rajasthan Congress.

Amid political crisis, I-T raids on 20 locations of 3 groups linked to aides of Gehlot

Jul 13, 2020 23:02

One of the persons whose premises were searched by the I-T sleuths includes – Rajiv Arora of Amrapali Jewels, who is also the Vice President of Rajasthan Congress. read more

To discourage cash transactions, keep track of cash withdrawals by non-filers, increase tax compliance and curb black money, the government changed TDS rules for making cash withdrawals from banks and post offices from this month.

I-T dept’s utility helps banks, post offices ascertain TDS rates on cash withdrawals

Jul 12, 2020 20:36

To discourage cash transactions, keep track of cash withdrawals by non-filers, increase tax compliance and curb black money, the government changed TDS rules for making cash withdrawals from banks and post offices from this month. read more

As a result, taxpayers will now be able to make investments for claiming deductions under the Income Tax Act for the financial year 2019-20 up to July 31.

‘Deadline for 2019-20 tax-saving investments extended till July 31’: Income tax dept

Jul 02, 2020 12:38

As a result, taxpayers will now be able to make investments for claiming deductions under the Income Tax Act for the financial year 2019-20 up to July 31. read more

Ahmed Patel has earlier served as the political secretary to UPA chairperson and Congress president Sonia Gandhi and was considered one of the most powerful persons in the party.

Sandesara scam: ED officials at Ahmed Patel’s house for third round of questioning

Jul 02, 2020 12:17

Ahmed Patel has earlier served as the political secretary to UPA chairperson and Congress president Sonia Gandhi and was considered one of the most powerful persons in the party. read more