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Income Tax Dept carries out more Searches in J&K

Income Tax Department carried out search actions at 5 premises located in and around Srinagar on 28th March 2019. Two groups, which connived with...

Three Lakh Firms de-registered by MCA under Income Tax Scanner for Evasion during Demonetization

Late Filers can still submit their Income Tax Returns till 31st March with a Late Fee of Rs. 10,000:...

Pre-filled Returns: Infosys will not have access to Information of Income Tax Payers, says Dept...

ITAT confirms Penalty since Assessee failed to Furnish Audit Report despite CBDT extended Due Date...

E-Assessment: CBDT designates Officer for E-Verification [Read Notification]

As part of taking measures to make the tax proceedings easier and hassle-free for assessees with the help of modern technology, the income tax department has proposed to launch e-assessment and...

Income Tax Dept unearths Major TDS Fraud

The TDS wing of the Income Tax Department has detected a large-scale scam in the tax deduction at source in government and private sectors during surveys conducted in February. It was found that Rs....

CBDT notifies Income Tax Exemption to Indian Institute of Science Education and Research [Read Notification]

The Central Board of Direct Taxes (CBDT) has notified exemption to the Indian Institute of Science Education and Research, Bhopal under clause (ii) of sub-section (I) of Section 35 of the Income Tax...

Lok Sabha Polls: Income Tax Officers to monitor Election Expenditure

In order to keep a close watch on election expenditure, the income tax department has deployed around 400 officers in Gujarat. This is to check the flow of black money during the Lok Sabha elections. ...

Pay Advance Tax by 15th March: CBDT

The Central Board of Direct Taxes ( CBDT ) has recently issued an advisory asking the taxpayers to remit the fourth and last installment of advance tax on or before March 15th, 2018. Advance tax...

CBDT asks Income Tax Dept to withdraw Appeals by March-end

As part of Government’s policy to reduce tax litigations, the Central Board of Direct Taxes ( CBDT ) has directed the income tax department to withdraw all appeal cases, pertaining to certain monetary...

No GST on TCS levied on Goods: CBIC [Read Circular]

The Central Board of Indirect Taxes (CBIC) has clarified that Goods and Services Taxes ( GST) would not be applicable on Tax Collection at Source ( TCS ) levied on Goods. In a clarification circular...

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