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Thursday, January 21, 2021

Income Tax Department

Income Tax Department conducts searches in Bihar

New Delhi, Oct 30 (IANS) The Income Tax Department carried out searches in the cases of four prominent contractor groups based in Patna, Bhagalpur, Hilsa, and Katihar on Thursday. In addition, surveys were also conducted on some traders of...

IT Raids: 42 locations raided across India, Rs 2.3 cr cash recovered

New Delhi, Oct 27 (IANS) The Income Tax Department has seized cash over Rs 2.3 crore and jewellery worth Rs 2.8 crore during searches at 42 locations in Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa, on a large network of...

Centre extends deadline of filing tax returns to Dec 31

New Delhi, Oct. Oct 24 (IANS) In a major relief to taxpayers, the Government on Saturday announced extension of the due date for filing income tax returns for the assessment 2020-21 by another month to December 31, 2020. The earlier...

Income Tax Department carries out searches in Bihar

New Delhi, Oct 21 (IANS) The Income Tax Department carried out searches on October 19 in the cases of two government contractors having premises in Purnea, Katihar and Saharasa and a silk trader in Bhagalpur in Bihar. The searches were...

Income Tax Dept to be restructured for Faceless Tax assessment

New Delhi (IANS) As The Faceless Assessment Scheme, 2019 kicks off, the Central Board of Direct Taxes (CBDT) has stipulated that all communications from the department to the taxpayer, assessee, third-party will be in the name of the National...

I-T dept plans active reporting of high value transactions for enhancing tax base

New Delhi (IANS) The government may have eased tax compliance measures through its 'transparent taxation' initiative but it proposes an extensive drive to enhance the country's tax base by aggressively pursuing reporting of high value expenditure that qualifies persons...

Latest News

China announces sanctions on 28 US individuals including Pompeo

Beijing, Jan 21 (IANS) China has decided to sanction 28 US individuals, included former Secretary of State Mike Pompeo,...