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Income Tax refunds to be sent to taxpayers in 7-10 days

Last Updated: Sunday, September 13, 2015, 17:20

The department’s Central Processing Centre (CPC) as on September 7 processed 45.18 lakh returns and issued refunds to 22.14 lakh tax payers relating to assessment year 2015-16.

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.

FinMin asks taxpayers to e-file I-T returns early

Last Updated: Wednesday, July 1, 2015, 21:16

The Finance Ministry today asked taxpayers to file their I-T returns for 2015-16 early to avoid the rush towards the last date of August 31.

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.

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.

Govt to modify new income tax return forms

Last Updated: Tuesday, May 12, 2015, 16:11

Government on Tuesday said it has decided to "modify" the new Income Tax Return (ITR) forms in wake of concerns raised over them.

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.

End of paper trail in e-filing of I-T returns; Aadhaar added

Last Updated: Friday, April 17, 2015, 20:33

In a major step aimed at easing taxpayer grievances, CBDT on Friday announced that assessees filing I-T returns online will no longer have to send the paper acknowledgement by post as a new Aadhaar-based electronic verification code has been launched to authenticate this document.

FM Jaitley pitches for low taxes, taxpayers as 'partners not hostages'

Last Updated: Friday, April 17, 2015, 13:55

Jaitley said he is "acutely aware" that there are concerns about retrospective taxation, tax harassment and arbitrariness in tax administration, especially those relating to cases of transfer pricing.

CBDT asks I-T dept to act on public grievances after PM's rap

Last Updated: Sunday, March 29, 2015, 16:42

CBDT has called for according a "top priority" to addressing taxpayers' grievances by the Income Tax department after Prime Minister Narendra Modi expressed his disappointment about delays in corrective action and harassment of the assesses by tax officials.

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".