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.

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.

Shah panel's recommendation on MAT positive for market: Sinha

Last Updated: Saturday, August 22, 2015, 16:13

Union Minister of State for Finance Jayant Sinha on Saturday said the A P Shah Committee's recommendation to grant relief to FIIs on Minimum Alternate Tax (MAT) will be a positive for the market.

India may waive retrospective MAT tax on foreign investors

Last Updated: Saturday, August 22, 2015, 12:20

Although MAT has been applied to domestic companies to ensure a minimum tax payment, it had never been imposed on foreign institutional investors (FIIs).

Cairn seeks quick resolution to tax row

Last Updated: Wednesday, August 12, 2015, 15:49

As the government grapples with its arbitration notice against a Rs 10,247 crore tax demand, British oil explorer Cairn Energy has said a quick judicial resolution to the issue will help restore confidence of retrospective tax-rattled international investors.

Income tax department notifies return forms for firms

Last Updated: Sunday, August 2, 2015, 22:33

The Central Board of Direct Taxes (CBDT) has notified tax returns forms for non-salaried class, including companies, partners in firms and individuals deriving their income from proprietary business or profession for 2015-16.

Court summons SpiceJet, Kalanithi Maran as accused in IT cases

Last Updated: Tuesday, July 21, 2015, 17:29

Budget carrier SpiceJet Ltd, its Chairman Kalanithi Maran and another top company official have been summoned as accused by a Delhi court in two tax evasion cases for their alleged failure to deposit over Rs 147 crore TDS with the Income Tax (IT) Department.

Black Money: PMLA action if illegal foreign assets not disclosed by Sept 30

Last Updated: Monday, July 20, 2015, 15:35

Those holding illegal foreign assets abroad and not disclosing it by September 30 will face action under the stringent anti-money laundering law, the taxman has warned.

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 .

Indirect tax collections pace up, grow 37.5% in April-June

Last Updated: Saturday, July 11, 2015, 10:58

IIP data showed that the growth in factory output in the first two months of the fiscal was 3 percent as against 4.6 percent in April-May of 2014-15.

I-T dept plans stringent action against habitual evaders

Last Updated: Sunday, June 21, 2015, 10:46

This follows a strategy evolved at a recently-concluded national conference of I-T brass here where it was decided to go after the evaders with full vigour.

SBI Q1 advance tax outgo rises 4% to Rs 1,290 cr

Last Updated: Monday, June 15, 2015, 22:57

The country's largest lender State Bank of India Monday paid Rs 1,290 crore as the advance tax for the first quarter of the current fiscal, a rise of 4 percent over the same period last year.