Income Tax department

Income Tax department News

ITR filing: Here's how to check Income Tax refund status online

Income Tax (ITR) Refund Status Online 2019-20: Once the Income Tax is filed, the IT department will undertake a series of actions to process the ITR. If a refund is due, it informs the tax payee via SMS or email.

ITR filing: How long does it take to get an income tax refund online

Income Tax Return (ITR) Filing 2019-20 Refund Status Online: The Income Tax Department will “only” issue refunds via e-mode into bank accounts of taxpayers and they should link PAN with their accounts.

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Income Tax Department raids residence of NCP leader Hasan Mushrif

The raids are being conducted at the senior leader's house in Kagal taluka of Kolhapur district, and at the Sarsenapati Santaji Ghorpade mill which is being managed by his family in the district.

74 Gujarat MLAs get I-T letters seeking asset info

More letters have been issued to MLAs from the BJP to determine “discrepancies” in their affidavits with regard to the I-T returns filed by them during the elections, official sources said.

I-T dept searches business, residential premises in Jammu and Kashmir

Sources attributed the ongoing IT raids to recently unearthed alleged irregularities into the affairs of Jammu Kashmir Bank.

CBDT directs I-T dept to share assets, accounts info of loan defaulters with banks

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.

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False charges to remarks about women: Cloud over sacked senior tax officer Srivastava

The slew of charges, filed on May 23, the day Lok Sabha election results were announced, included making “scandalous” allegations against women Income Tax officers; making a “false facade of inquiries” against top officials of the Central Board of Direct Taxes (CBDT)

Draft notification issued to amend audit rules for trusts; seeks more details

The draft notification, put in public domain for comments till June 5, includes a new 8 page Form 10B as against existing 3 page form.

I-T Dept proposes new norms for taxing MNCs with permanent India base

The Income-Tax Department said multinational companies that are incurring global loss, or profit margin of less than 2%, will be deemed to have made a profit of 2% of Indian revenue or turnover and will be taxed accordingly.

Karnataka: I-T department conducts raids at dozen locations

The raids are being conducted in state capital Bangalore, Hassan and Mandya and the department said the action is aimed against tax evaders and blackmoney generators. 

Income Tax department Videos

Government Suspects Tax Evasion In Deposits In Banks Post Demonetisation

As it analyses bank deposits post-demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes. A senior official said Income Tax Department has been asked to scrutinise details and send notices to depositors of […]

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