FM prunes tax rates
Feb 26, 2010
Tax collections may exceed targets
Sep 27, 2006
On March 24, 2017 21:03 (IST)
The department also said that total "confidentiality is ensured" to those who declare their black assets and funds under this scheme.
On March 22, 2017 21:36 (IST)
Arun Jaitley was replying to a debate on the Finance Bill and the accompanying 40 amendments to different laws including one making Aadhaar mandatory for filing of income tax return from July as well as for applying for permanent account number.
On March 22, 2017 19:51 (IST)
During the 50-day period post-demonetisation, 18 lakh entities deposited scrapped notes of Rs 500 and 1000 not commensurate with their income means, Finance Minister Arun Jaitley said.
On March 22, 2017 08:51 (IST)
Besides being necessary for filing an income tax return, any application for an income tax PAN will also have to state the applicant's Aadhaar or 12-digit unique ID which is backed by biometrics like finger prints and iris scans.
On March 21, 2017 20:01 (IST)
The new rules kick in starting July, Finance Minister Arun Jaitley said. Because they are amendments to the Finance Bill, the government should have no trouble having them cleared in parliament.
On March 21, 2017 12:19 (IST)
The Income Tax Department on Monday warned black money hoarders of punitive action if they do not deposit their unaccounted cash.
On March 18, 2017 19:39 (IST)
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has shot of a letter to all his regional chiefs asking them to make "concerted" efforts to get the job done.
On March 18, 2017 14:56 (IST)
In advertisements issued in leading national dailies, the department brought out the list of defaulters of income tax and corporate tax even as it advised them to pay their "tax arrears immediately".
On March 17, 2017 18:12 (IST)
This was stated by Minister of State for Finance Santosh Kumar Gangwar in a written reply in the Lok Sabha.
On March 16, 2017 22:48 (IST)
Around 2,059 dealers issued invoices involving tax evasion of more than Rs 10,640 crore including maximum VAT of 12.5 per cent in Maharashtra, CAG said in its report presented in Parliament last week.
On March 13, 2017 19:05 (IST)
The Prime Minister's Office last month has set up a task force under Revenue Secretary Hasmukh Adhia comprising members from central probe and enforcement agencies to monitor action against deviant shell companies.
On March 04, 2017 13:24 (IST)
CBDT chairman Sushil Chandra said several such companies were being examined by the statutory authority, working under department of Revenue in the Ministry of Finance.
On March 03, 2017 16:38 (IST)
In advertisements issued in leading national dailies today, the Income Tax department stated: "Do not enter into benami transactions" as the Benami Property Transactions Act, 1988, is "now in action" from November 1, 2016.
On February 22, 2017 15:07 (IST)
"There is absolutely no cause for panic. We are not going after everyone who deposited their holding of the demonetised currency in bank accounts between November 8 and December 30, 2016," a senior Finance Ministry official said.
On February 17, 2017 14:59 (IST)
So far, it has received replies from over 7 lakh people who have accepted making such deposits and the department will issue letters to the remaining nudging them to explain the source of deposits on the e-filing portal under Operation Clean Money.
On February 16, 2017 18:03 (IST)
Under 'Operation Clean Money', the I-T department had sent SMS and e-mails to 18 lakh people, who according to its data analysis had made suspicious deposits of over Rs 5 lakh during the 50-day window.
On February 15, 2017 16:02 (IST)
The tax relief for sick companies approved by Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 will not automatically apply as the SICA has been repealed with effect from December 1, 2016, the tax department has said.
On February 15, 2017 15:37 (IST)
The Central Board of Direct Taxes (CBDT), the policy-making body of the Income Tax department, is planning to roll out a faster method to obtain a PAN.