Shah panel on MAT may submit report next week: Jaitley

Last Updated: Thursday, July 16, 2015, 13:56

The high-level Justice A P Shah panel, set up to look into the levy of MAT on FIIs, is likely to submit its report to the Government next week, Finance Minister Arun Jaitley said on Thursday .

Black money law: FinMin wants people to address queries to CBDT

Last Updated: Tuesday, July 14, 2015, 19:52

Finance Ministry Tuesday dismissed some media reports on the new black money law as "surmises" and asked people to address queries directly to the revenue department.

I-T Department launches OTP facility for online ITR filing

Last Updated: Monday, July 13, 2015, 18:09

The Income Tax Department Monday launched its ambitious One Time Password (OTP) based e-filing verification system for taxpayers, thereby ending the practice of sending paper acknowledgement to its office in Bengaluru.

File appeals on merit: CBDT to taxman

Last Updated: Sunday, July 12, 2015, 12:30

Disapproving of the 'casual' attitude of taxmen in filing appeals and pursuing litigation in important revenue matters, the CBDT has asked the I-T department to take legal recourse only in "deserving" cases.

I-T Dept eyes Rs 2.56 lakh crore tax mop up from Mumbai in FY16

Last Updated: Thursday, July 9, 2015, 19:04

The Income Tax department is looking at collecting tax worth Rs 2,56,000 crore from the Mumbai zone during this fiscal, which is 13 percent more than the amount mopped up last year.

E-filing: I-T dept to send 24-hr valid password to taxpayers

Last Updated: Monday, June 29, 2015, 18:43

The deadline for filing ITRs is August 31.

Govt rejects Cairn's arbitration on tax dispute

Last Updated: Sunday, June 28, 2015, 11:28

The government has rejected Cairn Energy UK's plea for an arbitration over Rs 10,247-crore tax dispute saying taxation is not covered under the UK-India Investment Promotion and Protection Treaty.

Working to make life easy for taxpayers: CBDT

Last Updated: Thursday, June 25, 2015, 14:47

The CBDT is working to create an atmosphere where a taxpayer's life becomes so "easy" that they are never compelled to visit an I-T department office and the hassle of paying taxes is "eliminated totally", its chief has said.

No taxman can terrorise assesses of scrutiny: CBDT chief

Last Updated: Wednesday, June 24, 2015, 15:54

Seeking to allay concerns of taxpayers, CBDT has asked them not to get terrorised by threats of their cases being wilfully chosen for "scrutiny" by the taxman as the procedure is fully electronic and devoid of any human intervention.

Tax benefits for credit, debit card payments welcomed

Last Updated: Tuesday, June 23, 2015, 21:50

"Tax benefits in terms of income tax rebates to be considered to consumers for paying a certain proportion of their expenditure through electronic means," said the draft proposals on which comments have been invited till June 29.

Govt notifies new and simplified ITR forms

Last Updated: Tuesday, June 23, 2015, 20:48

The Income Tax department has notified the new set of ITR forms, including a three-page simplified one, for taxpayers to file their returns for assessment year 2015-16.