Income Tax Department of India: News
17 Jul 2018
India#FinancialBytes: A step-by-step guide to Income Tax return filing
July 31 is the last date to file your income tax, and if you fail to do it on or before that, a penalty of upto Rs. 10,000 would be levied.
16 Jul 2018
India#FinancialBytes: Filing your I-T Returns? Don't make these silly mistakes
Filing Income Tax returns (ITRs) is imperative for every working professional and business organization.
14 Jul 2018
Nirav Modi50 wealthy Indians under I-T scanner for buying Modi's jewellery
The Income Tax department has decided to reassess the income tax returns of over 50 high net-worth individuals (HNIs) who purchased jewellery from firms owned by the absconding Nirav Modi.
13 Jul 2018
India#FinancialBytes: Know all about Income Tax in India
Income tax refers to the percentage of your income that you're required to pay to the government under the Income Tax Act. Income tax is applicable to both individuals and companies and all types of income, be it from salary, capital gains, business/profession or any other source.
12 Jul 2018
India#FinancialBytes: How to verify your Income Tax return
You might think that filing your Income Tax return on time is all you have to do.
12 Jul 2018
WhatsAppAs tax-filing deadline nears, be cautious of this email ID
The time for filing tax returns is here, and with it has come new ways for frauds to dupe people.
11 Jul 2018
XI-T raids at sisters' hospital to silence me: Yogendra Yadav
Swaraj India leader Yogendra Yadav alleged that an income-tax raid was conducted at his sisters' hospital premises in Haryana's Rewari with an intent to "intimidate" and "silence" him as he launched an agitation for fair crop price for farmers.
10 Jul 2018
India#FinancialBytes: 10 Documents you need while filing your I-T Return
The deadline for filing of Income Tax Return for the FY 2017-18, i.e. July 31, 2018, is approaching fast.
07 Jul 2018
India#FinancialBytes: Know how to apply for a PAN card online
Whether you're thinking of getting a debit/credit or buying a property or opening a savings bank account, there is one document that you will need for each of these activities. And that document is the Permanent Account Number (PAN) card.
30 Jun 2018
PAN Card#FinancialBytes: Get instant e-PAN based on Aadhaar details
In a bid to help tax payers generate their permanent account number (PAN) online, the Income Tax Department on Friday launched an e-PAN facility on a real-time basis.
28 Jun 2018
Aadhaar Card#FinancialBytes: Know how to apply for a PAN card online
Whether you're thinking of getting a debit/credit or buying a property or opening a savings bank account, there is one document that you will need for each of these activities. And that document is the Permanent Account Number (PAN) card.
26 Jun 2018
MumbaiI-T department attached benami-properties worth Rs. 4,300cr since new laws
Since enacting stringent laws on benami properties in November'16, the Income Tax (I-T) department has attached more than 1,500 such assets collectively worth Rs. 4,300cr.
18 Jun 2018
India#FinancialBytes: Know all about Income Tax in India
Income tax refers to the percentage of your income that you're required to pay to the government under the Income Tax Act. Income tax is applicable to both individuals and companies and all types of income, be it from salary, capital gains, business/profession or any other source.
09 Jun 2018
NoidaI-T Department busts Noida engineer with 25 properties, two families
On Thursday, the Income Tax Department busted a Noida Authority engineer who was found to be in possession of five cars (including a Jaguar), Rs. 8 lakh in cash, and at least 25 properties in Noida and Faridabad.
09 Jun 2018
Business#FinancialBytes: How to save Income Tax under Section 80C
Every individual, who earns more than a certain amount, is required to pay taxes in accordance to the Income Tax Act. If you don't plan well, this may seem like a hefty payment.
08 Jun 2018
Reserve Bank Of India (RBI)Deadline to file 'advance tax' is June 15: Details here
If you have not yet paid the first instalment of your advance tax, then you should file it no later than June 15 to avoid a penalty.
05 Jun 2018
Income Tax Return#FinancialBytes: Here's how you can file the I-T return yourself
Every individual, whose total income during a financial year exceeds the maximum income not chargeable to tax, is required to file an income tax return (ITR) as per the Income Tax Act, 1961.
04 Jun 2018
Bank of India (BOI)#FinancialBytes: Know which Income Tax Return form you should file
Since April 5, 2018, the Income Tax Department has been uploading the Income Tax Return (ITR) forms for the Assessment Year 2018-19 (Financial Year 2017-18). In total there are 7 such forms.
03 Jun 2018
MumbaiFire at I-T department's office destroys Nirav files, department refuses
According to sources, files on the absconding Nirav Modi, Mehul Choksi, and several others wanted for economic offenses were destroyed in a major fire at the premises of the Income Tax Department in Mumbai on Friday.
02 Jun 2018
BusinessAll you need to know about your Form 16
As a salaried person, you must have heard the term 'Form 16'.
02 Jun 2018
IndiaBy being tax informant you can become crorepati: Know how
The Income Tax Department has announced three reward schemes under which anyone providing information to the department about the unaccounted wealth of Indians can win a reward of up to Rs. 5cr.
26 May 2018
Central Board of Direct Taxes (CBDT)Income Tax Department launched all 7 ITR forms for e-filing
The Income Tax Department today launched and activated all the seven Income Tax Return (ITR) forms for e-filing by taxpayers, after over a month of them being notified.
20 May 2018
MaharashtraMaharashtra Police to get its own state-level Economic Offenses Wing
Maharashtra government is set to establish an Economic Offenses Wing (EOW) at the state level.
15 May 2018
IndiaNew tax code set to benefit all businesses, small taxpayers
A new direct tax code the government is working on will be a boon for business and small personal income tax payers.
14 May 2018
Income Tax Return#FinancialBytes: How to file income tax online using ITR Form-1
The online portal for filing income tax returns (ITR) for the financial year 2017-18 (assessment year 2018-19) has been opened by the Income Tax Department for those who are eligible for the ITR Form-1 (Sahaj) i.e. people who have incomes of up to Rs. 50 lakh.
09 May 2018
IndiaGender document not needed for PAN under transgender category: I-T
No supporting document for gender is required either in a fresh application or to change an existing card, the Income Tax Department said today.
30 Apr 2018
IndiaReport: Tax collection up by Rs. 1.5 lakh crore
The Union government's drive towards bringing more people under the tax net has helped it collect an additional Rs. 1.5 lakh crore in direct taxes during 2017-2018.
21 Apr 2018
Sonia GandhiNational Herald case: Congress leaders accuse Swamy of defaming them
Senior Congress leaders, including Motilal Vora and Oscar Fernandes, today told a Delhi court, which is hearing the National Herald case involving Sonia Gandhi and Rahul Gandhi, that the complainant Subramanian Swamy was trying to defame them and vilify their party.
20 Apr 2018
Narendra ModiIndian banks received highest fake currency post demonetization: Report
The country's banks received an all-time high amount of fake currency and also detected an over 480 percent jump in suspicious transactions post demonetization, the first-ever report on dubious deposits made in the wake of the 2016 notes ban has revealed.
19 Apr 2018
BengaluruInaccurate I-T return filings by salaried employees under government scanner
Indian government is cracking down on salaried employees who use illegal means such as under-reporting of income or inflating deductions while filing income tax returns (ITRs) to avail maximum tax benefits.
06 Apr 2018
IndiaI-T working on more, better rewards for tax evasion informers
The I-T Department is working on new rules to encourage people to provide information on tax evasion and benami transactions.
04 Apr 2018
Central Bureau Of Investigation (CBI)Deepak Kochhar's 'funds from Mauritius' under income tax department's scrutiny
Deepak Kochhar, the founding director of NuPower Renewables, was served a notice by the Income Tax department, asking him to furnish all the details of the hundreds of crores worth of investments that he allegedly received from two Mauritius companies.
04 Apr 2018
CognizantHC partially unfreezes Cognizant's bank-accounts, orders payment of Rs. 420cr
A week after freezing bank accounts of Cognizant Technology Solutions in a Rs. 2,500cr tax-evasion case, the Madras HC has asked it to pay 15% (Rs. 420cr) to I-T in two days.
30 Mar 2018
BengaluruThings to do before, during and after filing tax returns
Tomorrow is the last date to file income tax returns for the past years, including 2015-16 and 2016-17.
30 Mar 2018
DelhiI-T department names, shames 24 tax defaulters through newspaper ads
The income tax department on Thursday advertised in several national dailies a pan-India list of 24 defaulting individuals/companies who collectively owe it taxes worth Rs. 490 crore and have either reported inadequate assets or gone untraceable.
29 Mar 2018
IndiaIncome tax deadline is March 31: How to pay online
The deadline to file income tax (I-T) returns is just two days away. Most of you must have completed the procedure by now.
28 Mar 2018
IndiaI-T freezes Cognizant's bank accounts over Rs. 2,500cr tax evasion
The Income Tax (I-T) department has frozen some bank accounts of Cognizant Technology Solutions India P Ltd over alleged tax evasion to the tune of Rs. 2,500cr.
23 Mar 2018
Madhya PradeshIncome Tax Department raids Madhya Pradesh business group's premises
The Income Tax Department on Friday conducted raids at 15 premises of a business group in three different cities in Madhya Pradesh on suspicion of major tax evasion, an official said.
23 Mar 2018
Central Bureau Of Investigation (CBI)Hyderabad firm under scanner, bank-fraud worth Rs.23,500cr uncovered in 2018
Yet another bank fraud has emerged, the third case to be reported in five days. The CBI has now registered a case against Hyderabad-based Totem Infrastructure Ltd for duping lenders of Rs. 1,394.43cr.
22 Mar 2018
Supreme Court Of IndiaDespite relief from SC, Aadhaar still mandatory for income-tax returns
It has been 10 days since the SC indefinitely extended the deadline for linking Aadhaar to various services, but the Income Tax (I-T) website continues to grossly violate laws.
