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Govt to review new income tax return forms, make them simple

Last Updated: Saturday, April 18, 2015, 18:51

Government on Saturday announced that new Income Tax Return (ITR) Forms that require disclosure of details regarding bank accounts and foreign trips undertaken by an individual will be reconsidered, a move that comes after criticism from tax experts and others.

New income tax return form to be reconsidered and simplified

Last Updated: Saturday, April 18, 2015, 18:13

The Finance Ministry on Saturday said the new income tax return (ITR) form will be reconsidered and simplified.

Govt draws the line, says no arbitration for tax issues

Last Updated: Thursday, April 16, 2015, 23:46

The government has set the record straight on tax disputes, maintaining they are not covered by the Bilateral Investment Promotion and Protection Agreement (BIPA) and need to be judicially and legally settled.

I-T Dept publishes list of 31 big tax defaulters

Last Updated: Wednesday, April 15, 2015, 21:06

Moving ahead with its strategy of 'naming and shaming' large tax defaulters, the Income Tax department on Wednesday came out with a list of 31 defaulters who owe over Rs 1,500 crore to the government.

SEBI to raise headcount; to hire officers from tax depts

Last Updated: Sunday, April 12, 2015, 16:04

To beef up its surveillance and enforcement teams, capital markets regulator SEBI has decided to hire 50 officers this year, including on deputation from tax departments and other government institutions.

CBEC credits 'exemplary zeal' of officers for exceeding tax target

Last Updated: Sunday, April 12, 2015, 10:53

The "unwavering commitment and exemplary zeal" shown by its officers has seen CBEC surpassing its indirect tax collection target by a handsome margin of Rs 4,000 crore to reach Rs 5.46-lakh crore in the just-concluded 2014-15 fiscal.

Tax shortfall: Finmin asks banks to deposit March TDS by month end

Last Updated: Sunday, March 29, 2015, 18:29

According to official data updated till March first week, TDS collections stood at 7.49 per cent as against 16.69 per cent in the same period last year.

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".

Indirect tax mop-up in Apr-Feb achieves 88.5% of fiscal target

Last Updated: Wednesday, March 11, 2015, 21:31

The government Wednesday said it has collected Rs 4.78 lakh crore in indirect taxes in the April- February period, which is 88.5 percent of the revised target for the entire fiscal.

Income tax refunds of Rs 1.19 lakh cr pending in last 3 years

Last Updated: Tuesday, March 10, 2015, 16:18

The pending amount for current fiscal so far is Rs 68,032.21 crore; Rs 43,963.42 crore in 2013-14 and Rs 7,968.51 crore in 2012-13.

'No change in personal income tax rates in near-term'

Last Updated: Tuesday, March 3, 2015, 19:22

Personal income tax rates will not be changed in the near term even as peak corporate tax rate will be cut by 5 percent over a four year period beginning 2016-17, a top finance ministry official said.

Delink tax sleuths' performance from revenue targets: FICCI

Last Updated: Monday, February 23, 2015, 22:17

Expecting the Union Budget to herald a non-adversarial taxation regime, industry body FICCI Monday said the government should delink the tax officials' performance appraisal from the tax collection targets.