FM Jaitley pitches for low taxes, taxpayers as 'partners not hostages'

Last Updated: Friday, April 17, 2015, 13:55

Jaitley said he is "acutely aware" that there are concerns about retrospective taxation, tax harassment and arbitrariness in tax administration, especially those relating to cases of transfer pricing.

CBDT asks I-T dept to act on public grievances after PM's rap

Last Updated: Sunday, March 29, 2015, 16:42

CBDT has called for according a "top priority" to addressing taxpayers' grievances by the Income Tax department after Prime Minister Narendra Modi expressed his disappointment about delays in corrective action and harassment of the assesses by tax officials.

16 lakh refunds worth crores lying unclaimed at I-T CPC

Last Updated: Wednesday, March 25, 2015, 16:42

A whopping 16 lakh refunds worth crores of rupees are lying unclaimed at the Income Tax department's central database centre for e-filing for want of "correct data from taxpayers".

I-T to send OTP, include Aadhar to ease taxpayer e-filing

Last Updated: Tuesday, March 24, 2015, 21:29

Taxpayers will soon get relief from sending a paper acknowledgement of their e-filed return as Income Tax department is set to introduce a new customer verification system for the task by sending One Time Passwords, validating net banking identity and enrolling Aadhaar number in the returns form.

I-T dept collects over Rs 3,500 crore from non-filers

Last Updated: Tuesday, March 24, 2015, 16:27

The Income Tax department has issued over 20 lakh "intimations" and collected Rs 3,569 crore in the current financial year from those taxpayers who had either not filed their tax returns or did so incorrectly.

PM's Good Governance: I-T dept to hold public meets every Wednesday

Last Updated: Wednesday, January 7, 2015, 15:00

The Income Tax department will hold public meetings every Wednesday to resolve taxpayers grievances and tax issues as part of the 'Good Governance' initiative mooted by Prime Minister Narendra Modi.

US fines Israeli bank $270 mn in tax evasion case

Last Updated: Tuesday, December 23, 2014, 04:55

Israel`s Bank Leumi Group has admitted to helping US taxpayers hide assets and agreed to pay a $270 million fine to settle a criminal probe, the Department of Justice announced Monday.

Banks to remain open on Sep 14, 15 for advance tax collection

Last Updated: Friday, September 13, 2013, 21:28

Reserve Bank Friday said bank branches would work full time this Saturday and Sunday to facilitate receipt of advance tax challans for income tax and corporate tax from the public.

Tax department writes to another 35,000 people to file returns

Last Updated: Friday, September 13, 2013, 20:32

The Income Tax Department has written to another 35,000 people this week, asking them to file returns and pay dues.

Send e-return copies to Bangalore centre: I-T dept to taxpayers

Last Updated: Friday, September 13, 2013, 16:00

Income Tax department has asked electronic filing taxpayers not having sent their returns copy for the two previous assessment years by post to its centre in Bangalore, to do so early.

Beware of fraud, fake mobile applications: I-T to taxpayers

Last Updated: Wednesday, September 4, 2013, 15:41

The fake mobile applications use the name and purpose of I-T returns to conceal their fraud identity.

Cos paying over Rs 10 cr advance tax may be asked to join LTU

Last Updated: Sunday, June 23, 2013, 17:54

Government is considering making it mandatory for companies paying advance tax of over Rs 10 crore annually to register with the LTU (Large Taxpayers Unit), a move likely to augment and streamline tax collection.