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Friday, July 03, 2020

Income Tax department


To boost liquidity, IT dept issues refunds worth Rs 26, 242 cr to taxpayers

May 22, 2020 6:14 pm

The refund process, which is being done as part of efforts to make liquidity available with people and firms to deal with the pandemic has been further expedited at a greater pace since Finance Minister Nirmala Sitharaman's announcement made in the 'Atmanirbhar Bharat Abhiyan' last week.

Tax department asks officers working from home to chase large taxpayers for dues

March 30, 2020 5:26 pm

Rakesh Gupta, Commissioner of Income Tax (Coordination & Systems), Central Board of Direct Tax (CBDT), last week asked field formations to submit a daily report on follow-ups on pending tax collections from large taxpayers.

Three Infosys employees held for promising quicker tax refunds

March 10, 2020 8:05 am

According to the complaint, Kumar, who was deployed from Infosys to work as an accountant and data manager at the CPC, allegedly contacted a tax assessee whose refunds were held up and offered to get the money released within a week on payment of four percent.

PAN to be inoperative after March 31 if not linked with Aadhaar: I-T dept

February 15, 2020 3:53 pm

The deadline for linking of PAN and Aadhaar has been extended several times and the current deadline ends on March 31, 2020.

IT releases data: Only 2,200 reported income of over Rs 1 crore from profession in FY19

February 15, 2020 1:51 am

The I-T Department put out the details following comments of Prime Minister Narendra Modi on Wednesday, highlighting the less number of taxpayers declaring income over Rs 1 crore.

In searches on Vijay and producer Anbu Chezhiyan, a link to Rajinikanth's Darbar

February 07, 2020 7:38 am

I-T searches started Wednesday morning at the premises of AGS Cinemas and Chezhiyan, and led to Vijay by noon, when I-T sleuths arrived at a film set in Neyveli where the actor was shooting for the under-production Master.

NCLAT dismisses I-T dept plea against Reliance Jio on demerger of tower, fiber units

December 25, 2019 1:37 pm

The Ahmedabad-bench of National Company Law Tribunal (NCLT) had earlier this year granted permission to the composite scheme of arrangement, through which two companies were proposed to be demerged -- Jio Digital Fibre Pvt Ltd and Reliance Jio Infratel Pvt Ltd.

Centre moves to recover Rs 350 crore in taxes from Dera Sacha Sauda

December 14, 2019 12:16 pm

In August 2017, HC had stayed the sale, transfer, alienation or encumbrance of the Dera properties after it said that a decision will be taken whether damages can be recovered from the Dera for the arson caused by its followers.

I-T dept conducts search operations on stock brokers, traders across country

December 08, 2019 1:13 am

The Department in a statement on Saturday said it estimated the trade in illiquid stock options by such stock brokers/traders to have resulted in artificial losses/profits to the tune of Rs 3,500 crore by executing reversal trades within a very short span of time.

I-T dept issues 2.10 crore tax refunds till November; Rs 1.46 lakh crore refunded

December 03, 2019 9:38 pm

The income tax department has processed up to 20 per cent more refunds over the last year as a Centralised Processing Centre (CPC) has expedited the process, officials said.