TheNewsClues
Clues by Admin • 25 Jul 2018, Wednesday
Non-salaried professionals having gross receipts of over Rs 50 lakh and business entities with a turnover of over Rs 1 crore (or Rs 2 crore if they have opted for presumptive taxation) will now have to furnish additional details as part of new ... Continue Reading
Read More at The Economic Times
Clues by Admin • 23 Jul 2018, Monday
The Central Board of Direct Taxes (CBDT) has directed the taxmen to dispose of appeals cases where the tax demand is above Rs 50 crore on priority by the year-end. “Litigation is not only a cost on the credibility of ... Continue Reading
Read More at The Financial Express
Clues by Admin • 12 Jul 2018, Thursday
The FInance Ministry announced higher threshold on Wednesday for filing income tax appeals which is expectedset to lower the load on tribunals and courts, reduce litigation and free up officials to focus on high-value cases, tax experts said. The ... Continue Reading
Read More at Livemint
Clues by Admin • 9 Jul 2018, Monday
The Income tax (I-T) department has sold roughly 40% of Cairn Energy Plc’s holding in Vedanta to recover part of the Rs 10,247 crore retrospective taxes it had raised against the British firm. While the matter is due to be ... Continue Reading
Read More at Times of India
Clues by Admin • 7 Jul 2018, Saturday
The Income Tax (I-T) Department has made record recoveries of Rs 1 lakh crore in 2017-18 including Rs 60,000 crore of arrears, contributing 10% of total direct tax collection in the last financial year, according to a Business Standard report. The department resorted ... Continue Reading
Read More at Moneycontrol
Clues by Admin • 4 Jul 2018, Wednesday
Country’s apex direct taxes body, CBDT said that Income tax refunds worth over ₹ 70,000 crore have been issued to the taxpayers and almost all refund claims pending as on June-end has been processed. The Income Tax Department observed a ... Continue Reading
Read More at Livemint
Clues by Admin • 30 Jun 2018, Saturday
The Income tax department on Friday launched the facility of e-PAN, a move which is expected to help taxpayers generate the permanent account number (PAN) on a real-time basis. The facility is free of cost and can be availed through ... Continue Reading
Read More at The Economic Times
Clues by Admin • 28 Jun 2018, Thursday
In the past few years, Income Tax (I-T) Department and Enforcement Directorate (ED) have been serving increasing summons and notices to the non-resident Indians (NRIs) asking them to explain their investment and earnings. The NRIs have now found a way ... Continue Reading
Read More at Times of India
Clues by Admin • 14 Jun 2018, Thursday
The Central Board of Direct Taxes (CBDT) has proposed amendments in two forms and one rule under to Income Tax Rules, 1962 (I.T.Rules). It has suggested changes in Form No.36 for filing an appeal to the Income Tax Appellate ... Continue Reading
Read More at Times Now
Clues by Admin • 12 Jun 2018, Tuesday
More than 90,000 persons who deposited Rs 10 lakh or more cash in their bank accounts during the demonetisation period are under the Income Tax (I-T) scanner for not filing their tax returns. The I-T Department had served notices on nearly 3 lakh ... Continue Reading
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