E-filing of select ITRs to begin soon

Last Updated: Wednesday, June 24, 2015, 19:34

Taxpayers wanting to file online I-T returns for assessment year 2015-16, using the newly notified ITR-2 or ITR-2A forms, will have to wait for few more days as the tax department is in the process of launching the facility on its official website.

I-T department notifies new ITR forms for assesment year 2015-16

Last Updated: Tuesday, June 23, 2015, 18:28

The Income Tax department on Tuesday notified new and simplified ITR forms for assesment year 2015-16.

All I-T refunds to be put directly in bank accounts: CBDT

Last Updated: Tuesday, June 23, 2015, 16:35

The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department.

I-T dept plans stringent action against habitual evaders

Last Updated: Sunday, June 21, 2015, 10:46

This follows a strategy evolved at a recently-concluded national conference of I-T brass here where it was decided to go after the evaders with full vigour.

Evasion spoiling compliance culture, I-T will act tough: CBDT

Last Updated: Tuesday, June 16, 2015, 17:56

The menace of tax evasion is "spoiling" the culture of compliance in the country and the Income Tax department will ensure that chronic evaders are not able to get away without facing court cases, a top CBDT official on Tuesday said.

I-T dept to defend Rs 20,495-cr tax claim on Cairn India

Last Updated: Tuesday, June 16, 2015, 17:50

The Income Tax Department will defend the Rs 20,495-crore tax claim it has made on Cairn India even after the company is merged with its parent Vedanta Ltd.

Black money: Taxman to create awareness among school students

Last Updated: Monday, June 15, 2015, 19:08

After undertaking a slew of measures to combat black money instances in the national and international arena, the Income Tax department has decided to catch the imagination of school-going children for creating awareness on the issue and building a social deterrence against such crimes.

Government asks top taxmen to ideate for widening tax base

Last Updated: Sunday, June 14, 2015, 13:08

The unique move comes in the backdrop of the government recently asking the I-T department to take urgent steps to widen the tax base and add at least 25 lakh new assesses every month during the current financial year 2015-16.

FinMin to soon issue FAQs on new black money law

Last Updated: Thursday, June 11, 2015, 13:50

The Finance Ministry is likely to soon issue FAQs explaining the provisions of the new black money law and also to clarify whether one-time compliance window can be availed by persons already under probe.

IT raids against Chettinad Group of companies

Last Updated: Wednesday, June 10, 2015, 11:47

The group's Chairman Emeritus M A M Ramaswamy had yesterday declared that he has disowned his son M A M R Muthiah whom he adopted in 1996.

Court pulls up I-T Dept for withholding info on foreign accounts

Last Updated: Thursday, May 28, 2015, 17:59

A Delhi court on Thursday pulled up the Income Tax (IT) Department for withholding information on foreign bank accounts of those persons against whom it has filed complaints and slapped a fine of Rs 10,000 on it.

Adopt taxpayer-centric regime: Revenue Secretary tells taxmen

Last Updated: Tuesday, May 26, 2015, 21:12

The Income Tax Department should adopt a responsive taxpayer-centric regime and focus on dealing with the menace of both domestic as well as overseas black money, Revenue Secretary Shaktikanta Das has said.