Income tax

CBDT launches e-portal for reporting tax evasion, ‘benami’ assets

It’s to encourage participation of citizens as stakeholders in fighting the menace, it says. The Central Board of Direct Taxes (CBDT) has launched an e-portal for filing complaints about tax evasion, ‘benami’ properties and undisclosed assets overseas.“Taking another step...

PM Kisan payout went to 20 lakh undeserving beneficiaries: RTI info

Punjab (23%), Maharashtra (17%) and Assam (14%) account for more than half of such beneficiaries, followed by Gujarat and U.P. with 8% each. PM-KISAN payments worth ₹1,364 crore have been wrongly made to more than 20 lakh ineligible beneficiaries and...

Budget for the Common Man: Crucial Income Tax Changes in Past Budgets

Finance Minister Nirmala Sitharaman will present the Union Budget for 2021-22 on February 1 Just like every year, financial experts and the common man will eagerly await announcements on the taxation front. The government has made some drastic changes in income...

December GST Collection Shows Fast-Track Economic Recovery, says Finance Secretary

<!-- -->Mr Pandey said the government has centralized the data from different agenciesGoods and Services Tax (GST) collection for the month of December shows that the economy is on fast track recovery and the country is witnessing positive growth,...

Facebook to close Irish units at centre of tax dispute

The California tech giant acknowledged the winding down of Facebook Ireland Holdings Unlimited Company amid a dispute with US tax authorities, which claimed the company owed billions in taxes by improperly shifting profits offshore. (Subscribe to our Today's Cache newsletter...

Government doubles penalty for missing ITR due date this year

The Central Board of Direct Taxes (CBDT) has extended the deadline to file the income tax return (ITR) for the financial year 2019-20 to December 31, beyond the usual date of July 31, owing to the ongoing coronavirus pandemic....

Income Tax Return Filing Date Nears: Here Is How To Do It Online

<!-- -->Last date to file your income tax return for financial year 2019-20 is December 31The last date to file your Income Tax Return (ITR) for financial year 2019-20 (assessment year 2020-21) is December 31. The Income Tax Department...

PM Cares ‘owned, controlled and established’ by govt, says Centre

The central government, in a reply to an application under the Right To Information (RTI) act on 24 December, said that PM-CARES fund is “owned by, controlled by and established by the Government of India”.In its response the office...

I-T department allows revision of declarations filed under ‘Vivad Se Vishwas’ scheme

Entities filing declarations under the direct tax dispute resolution scheme ‘Vivad Se Vishwas’ can revise them till the time tax authorities issue certificate mentioning details of tax arrears and the amount payable, the Income Tax Department has said.Issuing a...

IT refunds worth ₹ 1.40 lakh cr issued to 59.68 lakh taxpayers in 8 months

This includes personal income tax (PIT) refunds amounting to ₹ 38,105 crore and corporate tax refunds of over ₹ 1.02 lakh crore during this period. The Income Tax Department has issued refunds worth over ₹ 1.40 lakh crore...
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HC extends protection to ARG employees in TRP scam

A status report on the ongoing investigation in the case was submitted by the police to a division bench...
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‘U.S. rioters sought to assassinate lawmakers’

Justice dept. cites strong evidence U.S. prosecutors now believe supporters of President Donald Trump planned to “capture and assassinate elected officials” in their siege of...

54 arrested in U.P. under unlawful conversion ordinance so far

At least 91 persons have been booked and 54 arrested so far, an overwhelming number of them Muslims, under the Uttar Pradesh Prohibition...

₹112-cr. allocation for coir sector

The coir sector has received a major thrust in the State Budget for 2021-22.Presenting the Budget on Friday, Finance Minister T.M. Thomas Isaac...