Income tax department notifies return forms for firms

Last Updated: Sunday, August 2, 2015, 22:33

The Central Board of Direct Taxes (CBDT) has notified tax returns forms for non-salaried class, including companies, partners in firms and individuals deriving their income from proprietary business or profession for 2015-16.

New ITR forms for non-salaried individuals: Which form should you file?

Last Updated: Saturday, August 1, 2015, 12:40

The Income Tax department has notified the revised set of ITR forms for non-salaried individuals to file their returns for the assessment year 2015-16.

Govt detects Rs 1,761.09 crore undisclosed income till June

Last Updated: Friday, July 31, 2015, 19:00

The government has detected an undisclosed income of Rs 1,761.09 crore while it seized Rs 75.37 crore in a total of 41 searches till June this fiscal, Parliament was informed Friday.

17 individuals owe a whopping Rs 2.14 lakh crore tax arrears

Last Updated: Thursday, July 30, 2015, 19:54

Just 17 individuals have a whopping Rs 2.14 lakh crore as outstanding tax arrears, with each of them owing more than Rs 1,000 crore.

India's divestment deals on slow burner: DBS

Last Updated: Wednesday, July 29, 2015, 13:47

Progress on India's divestment front has been slow in the first four months of this fiscal year, a Singapore-based bank said Wednesday.

SpiceJet says no default on TDS obligations

Last Updated: Wednesday, July 22, 2015, 21:55

With a Delhi court summoning SpiceJet and its former executives in income tax cases, the budget carrier Wednesday said it has not defaulted on any tax-deducted at source (TDS) obligations.

Sebi busts billion-dollar 'tax evasion shops' in stock market

Last Updated: Wednesday, July 22, 2015, 19:57

Suspecting tax evasion of at least Rs 5,000-6,000 crore, regulator Sebi has clamped down on a large number of organised syndicates who had set up 'shops' to convert black money into legitimate-looking funds through the stock market platform.

Court summons SpiceJet, Kalanithi Maran as accused in IT cases

Last Updated: Tuesday, July 21, 2015, 17:29

Budget carrier SpiceJet Ltd, its Chairman Kalanithi Maran and another top company official have been summoned as accused by a Delhi court in two tax evasion cases for their alleged failure to deposit over Rs 147 crore TDS with the Income Tax (IT) Department.

Blackmoney: E-filing link to declare illegal assets launched

Last Updated: Tuesday, July 21, 2015, 15:02

According to the scheme, such a declaration filed online by an individual or entity will have to mandatorily bear a "digital signature" for validation.

Black Money: PMLA action if illegal foreign assets not disclosed by Sept 30

Last Updated: Monday, July 20, 2015, 15:35

Those holding illegal foreign assets abroad and not disclosing it by September 30 will face action under the stringent anti-money laundering law, the taxman has warned.

I-T dept to bring 1 crore new people under tax net this fiscal

Last Updated: Sunday, July 19, 2015, 14:23

The Income Tax department has launched an ambitious drive to bring under its net one crore new taxpayers after the government recently asked the taxman to achieve the target within the current fiscal.

I-T warns of action against those disclosing secret tax info

Last Updated: Sunday, July 19, 2015, 12:50

The Central Board of Direct Taxes (CBDT) said the confidentiality of taxpayers' information has assumed a greater significance in view of "increased availability of information" regarding offshore tax evasion, tax avoidance and stashing of unaccounted money abroad.