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.

Present indirect taxation system complete mess: Arun Jaitley

Last Updated: Friday, September 11, 2015, 00:02

Union Finance Minister Arun Jaitley Thursday said the present indirect taxation system is in a "complete mess" and sought support of political parties and state governments for implementation of Goods and Service Tax reform.

I-T dept receives 2 crore returns on e-filing portal till Sept 7

Last Updated: Thursday, September 10, 2015, 17:58

The income tax department has received 2.06 crore returns, up 26.12 percent, on its e-filing portal as of September 7 - the last day for filing the returns by individuals.

Hurry! Last day for E-filing of I-T return today

Last Updated: Monday, September 7, 2015, 10:46

The Central Board of Direct Taxes (CBDT) had extended the deadline to September 7, i.e today. So, if you haven't e-filed your income tax return yet, then hurry and fill it right now.

Black money: Upto Rs 15 lakh award for info against defaulters

Last Updated: Sunday, September 6, 2015, 14:49

The new guidelines have been issued by the CBDT keeping in mind the huge challenge of tackling black funds in the country and at the same time boosting the revenue kitty.

Blackmoney: Upto Rs 15 lakh award for info against defaulters

Last Updated: Sunday, September 6, 2015, 14:49

The new guidelines have been issued by the CBDT keeping in mind the huge challenge of tackling black funds in the country and at the same time boosting the revenue kitty.

Fresh trouble for Sahara Group; SC seeks reply on I-T return notice

Last Updated: Friday, September 4, 2015, 14:02

In what could spell fresh trouble for Sahara chief Subrata Roy, the Supreme Court has asked the company to reply to the notice sent by Income Tax department.

Last date for e-filing of I-T return extended to Sept 7

Last Updated: Wednesday, September 2, 2015, 17:16

The government on Wednesday extended the last date for e-filing of Income Tax return by a week to September 7.

CBDT to soon issue instructions on MAT issue

Last Updated: Tuesday, September 1, 2015, 19:25

With the Justice A P Shah panel recommending non-applicability of Minimum Alternate Tax (MAT) on FIIs, the revenue department is likely to soon issue instructions to field officer not to pursue pending cases against foreign institutional investors.

Govt asks RBI to reverse I-T deductions of Telangana

Last Updated: Monday, August 31, 2015, 23:04

Finance Ministry Monday asked RBI to reverse the Rs 1,274.21 crore income tax deductions it had made from the account of Telangana government saying the action was not in consonance with the "Principle of Cooperative Federalism".

IT Dept suspects Rs 400-cr tax evasion on cap gains in Maharashtra

Last Updated: Wednesday, August 26, 2015, 22:50

The Income Tax department has detected about 200 cases of bogus "long term capital gains" in Nagpur, Aurangabad and Nashik divisions of Maharashtra where tax of around Rs 400 crore was evaded.

First set of tax sop phase-out in public domain soon: Jaitley

Last Updated: Sunday, August 23, 2015, 18:22

Finance Minister Arun Jaitley Sunday said a discussion paper on first set of tax exemptions to be phased out would be put in the public domain shortly.