October 05, 2019 6:23 pm
This is the key allegation in an unprecedented complaint against the nation’s top tax administrator by Alka Tyagi, who was Chief Commissioner of Income Tax (Unit 2) in Mumbai when she sent her complaint to Finance Minister Sitharaman on June 21.
September 19, 2019 5:32 pm
The directive issued by the tax board has also asked the I-T department to guard against the disclosure of such matters as they are "serious" in nature.
September 14, 2019 2:14 am
The new e-assessment regime will be voluntary and taxpayers can take a call on whether to conduct their dealings over the e-system or through the existing procedure of manual submission of documents by visiting the tax office.
July 07, 2019 6:45 pm
"In cases where Aadhaar is being quoted and PAN is not there, we could possibly think on the terms of allotting a PAN to the person (who is filing income tax return)," CBDT chairman Pramod Chandra Mody said.
June 26, 2019 6:56 pm
It said the order has been issued in public interest after a number of such requests were received by it from public sector banks (PSBs) seeking information of immovable assets of a loan defaulter to effect recovery from them.
June 15, 2019 4:17 am
The CBDT issued the guidelines for compounding of offences under Direct Tax Laws, 2019, in supersession of its earlier guidelines dated December 23, 2014. Compoundable offences are those which can be conciliated by the parties under dispute, without the requirement of the permission of the court.
May 15, 2019 1:24 am
Monday’s order was issued after seeking the Election Commission’s go-ahead. According to CBDT officials, each of the 14 Principal Chief Commissioners were officers who had been promoted on March 9, just a day before the Lok Sabha elections was announced and the Model Code of Conduct (MCC) kicked in.
April 05, 2019 7:20 am
Stop filers are individuals who filed returns in earlier years but did not do so in the current year even though they are liable to do so.
February 07, 2019 5:14 pm
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said the Income Tax department has so far issued 42 crore permanent account numbers (PAN), of which 23 crore have been linked with Aadhaar.
February 05, 2019 3:04 am
Under the Section 56(2)(viib) of the Income Tax Act, closely-held companies, when issuing shares, are charged 30 per cent tax on the difference between funds raised as per the actual valuation and the fair-market value of the company.