CBDT grants officials authority to waive or reduce interest payments
New Delhi: The income tax department has granted tax officials the authority to waive or reduce the interest payable by taxpayers, provided certain conditions are met, media reports said.
CBDT extends ITR filing deadline for corporates by 15 days till November 15
New Delhi/IBNS: The Central Board of Direct Taxes (CBDT) announced an extension for corporate income tax return filing for the Assessment Year (AY) 2024-25.
CBDT enables taxpayers to file returns from Apr 1
New Delhi: The Central Board of Direct Taxes (CBDT) on Thursday said it has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024–25 (relevant to Financial Year 2023–24) from April 1, 2024, and onwards.
Polycab India plunges 22% as I-T dept recovers 'unaccounted sales' of Rs 1,000 crore
Mumbai: Polycab India's shares witnessed a sharp decline of 22 percent in morning trade on January 11 following revelations by the income tax department about the discovery of around Rs 1,000 crore in "unaccounted cash sales" during raids on the company's offices the day before, media reports said.
Govt extends tenure of CBDT Chairperson Nitin Gupta
New Delhi: CBDT Chairperson Nitin Gupta, a 1986-batch IRS officer, received a nine-month extension in service on a contract basis from the Union government on Saturday, media reports said.
Finance Ministry agencies confiscate immovable properties worth Rs 1.11 trn in 6 years
New Delhi: The enforcement agencies under the Finance Ministry have seized immovable assets worth around Rs 1.11 trillion during the last six years, the ministry informed Parliament.
CBDT extends due date for filing returns till Nov 7
New Delhi: The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing income tax returns for the assessment year 2022-23 to November 7, 2022.
New Delhi: Customers have to furnish PAN or Aadhaar numbers if cash withdrawals and deposits in a financial year cross Rs 20 lakh and also to open a current account or cash credit account with a bank.
Budget provided maximum relief to taxpayers: CBDT Chairman
New Delhi/UNI: The focus of the Budget has been to provide maximum relief to the taxpayers by making significant changes in the income tax processes, Central Board of Direct Taxes (CBDT) Chairman JB Mohapatra said here on Wednesday
CBDT issues Rs 1.54 lakh cr in refunds to income taxpayers
New Delhi/IBNS: The income tax department on Thursday said it has issued refunds of over Rs 1.54 lakh crore to more than 1.59 crore taxpayers so far this fiscal.
Draft rules to implement the law for scraping retro tax provisions framed
New Delhi/UNI: The government has framed draft rules to implement the recent amendment in Income Tax Act to scrap retrospective tax provisions.
Amid Covid pandemic, deadline for filing income tax returns extended till Sept 30
New Delhi/IBNS: As the country is raving under the heat of the second wave of Coronavirus, the Centre on Thursday extended the due date of filing income tax returns (ITR) for the financial year 2020-21 by two months till Sept 30 to give relief to taxpayers.
Income Tax Dept issues 10.2 lakh refunds worth Rs 4,250 crores in one week
New Delhi/IBNS: The Income Tax department has released 10.2 lakh refunds worth Rs 4,250 crores in a week's time, the Central Board of Direct Taxes (CBDT) said on Wednesday.
Mumbai, Jun 4 (IBNS): The Union Ministry of Finance, on Monday, in a release refuted the allegations that records and documents relating to investigation into the Nirav Modi/Mehul Choksi case have been destroyed in the Scindia House fire in Income Tax Office in Mumbai.
I-T Dept. has issued notices to 1 lakh crypto currency investors: CBDT chairman
New Delhi, Feb 6 (IBNS): The Income Tax Department has issued about one lakh notices to people who have invested in crypto currencies like Bitcoin and have not declared it in their income tax return, CBDT (Central Board of Direct Taxes) chairman, Sushil Chandra said at an ASSOCHAM event held in New Delhi today.