Have centralised monitoring for audit objections: CAG to CBDT

Last Updated: Tuesday, August 11, 2015, 22:30

Government auditor CAG has suggested to the Central Board of Direct Taxes to introduce centralised monitoring mechanism to timely deal with the internal audit objections.

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.

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.

Black money: Keep foreign info strictly secret, CBDT tells I-T

Last Updated: Wednesday, June 3, 2015, 21:18

CBDT has issued fresh instructions to the taxman to ensure that information on individuals holding black money abroad is strictly kept secret as any "careless" act could give an excuse to the data supplying country for not helping India in the future.

CBDT effects changes; Chairperson divests investigation charge

Last Updated: Tuesday, May 19, 2015, 19:38

The CBDT has effected an in-house change of charges with Chairperson Anita Kapur divesting the additional charge of investigations to another Member in the board.

Govt to study HC stay order on MAT levy on FIIs

Last Updated: Tuesday, May 5, 2015, 22:33

With a foreign fund house getting a court stay on the controversial MAT levy, the tax department Tuesday said it will study the Bombay High Court order before taking a view on the matter.

I-T dept collects Rs 6.96 lakh cr revenue during 2014-15

Last Updated: Sunday, May 3, 2015, 15:59

The achieved collections are about Rs 9,000 crore or 14 percent short of the projected target of Rs 7,05,000 crore.

CBDT to settle foreign funds' claims within a month

Last Updated: Monday, April 27, 2015, 19:06

The Income Tax department has directed its officers that cases of foreign institutional investors (FIIs) seeking tax exmption under the Double Taxation Avoidance Agreements (DTAAs) with other countries must be decided within a month of claim filing.

All MAT tax claims under DTAA to be settled in a month

Last Updated: Monday, April 27, 2015, 14:39

Central Board of Direct Taxes will settle all minimum alternate tax (MAT) matters of FIIs coming under the ambit of Double Taxation Avoidance Agreements within a month of filing of claims.

Govt meets FIIs on tax issues, offers DTAA relief to MAT-hit investors

Last Updated: Wednesday, April 22, 2015, 17:42

In a relief to foreign investors slapped with Rs 40,000 crore tax demands, the government Wednesday said such levies would not be applicable to the entities based in countries having double taxation avoidance pacts with India, while others can approach the courts for reprieve.

Soon, PAN card to be issued in 48 hours flat!

Last Updated: Tuesday, April 21, 2015, 23:44

The government will soon launch a facility under which a PAN card will be issued within 48 hours of applying.

Now EPIC or Aadhaar document enough to get PAN card

Last Updated: Monday, April 20, 2015, 17:41

An EPIC or Aadhaar document will now be enough for any individual to obtain PAN card as the Income Tax Department has relaxed the cumbersome procedure of having multiple documents to prove one's own identity.