Central Board Of Direct Taxes

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Central Board of Direct Taxes

It alleged that hideouts were identified during the raids where second set of books of accounts and cash were found. (Image credit: Hetero)

IT dept detects Rs 550-cr hidden income after raids on Hetero pharma group

The raids were carried out by the tax department on October 6 at about 50 locations in half-a-dozen states

09 Oct 2021 2:16 PM

Tax authorities raids Chinese entities for money laundering. (PTI Photo)

I-T Department raids premises of Chinese entities in money laundering case

Chinese individuals and a couple of bank employees were involved in money laundering through a series of shell companies, the statement said

12 Aug 2020 9:34 AM

CBDT notifies I-T returns forms for 2019-20. (AFP Photo)

CBDT issues new Income Tax return forms for 2019-20

The department revised the I-T return forms to allow assessees to avail benefits of various timeline extension granted by the government

31 May 2020 1:39 PM

Making the biggest recent reform of tax collection methods, the government introduced faceless assessment this month, but resistance to change from within the bureaucracy could lead to a bumpy roll-out for the new system.

Tax employee unions irked by PM Modi's switch to faceless assessment: Letter

The scheme is being implemented in a hurry without considering the concerns of the majority of the stakeholders, said the letter.

15 Oct 2019 12:04 PM

Trinamul Congress MLA Nayna Bandyopadhyay along with the members of Banga Janani Vahini during a protest against income tax notices being served to several Durga Puja committees in Kolkata on Tuesday. (Photo: PTI)

No tax notices issued to Puja panels: CBDT

Firhad Hakim slammed the Narendra Modi government alleging political vendetta by using the IT department.

14 Aug 2019 2:12 AM

'Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the 'due date' for filing of Income Tax Returns from 31st July, 2019 to 31st August, 2019 in respect of the said categories of taxpayers,' said Surabhi Ahluwalia, Commissioner of Income Tax, Media and Technical Policy), in a statement. (Photo: Representational)

Date for filing Income Tax Returns extended to August 31, 2019

The due date for filing of income tax returns for Assessment Year 2019-20 is 31.07.2019 for certain categories of taxpayers.

23 Jul 2019 8:02 PM

Senior citizens, above 60 years of age, have to submit Form 15H to banks at the beginning of a financial year to ensure that no tax is deducted at source on interest income. (Representational Image)

Senior citizens with taxable income up to Rs 5 lakh can seek TDS exemption on bank interest

Earlier, the limit for seeking Tax Deducted at Source (TDS) exemption was Rs 2.5 lakh.

23 May 2019 6:11 PM

I-T officers’ appraisal policy junked

The HC, however, held in its judgement that such a policy was “wholly impermissible and invalid”.

25 Apr 2019 2:26 AM

The EC’s advice had come against the backdrop of Income Tax Department’s raids in Madhya Pradesh. (File Photo)

EC calls CBDT chairman, revenue secretary to discuss current I-T raids

EC has called the revenue secretary and chairman, Central Board of Direct Taxes on Tuesday to discuss ongoing income tax raids.

09 Apr 2019 11:10 AM

The searches, on charges of alleged tax evasion and hawala transactions during the ongoing poll season, continued Monday at various premises in Bhopal, Indore, Goa, Delhi and the national capital region. (Representational Image)

I-T raids expose Rs 281 crore racket of slush funds in Madhya Pradesh

It said sleuths have recovered Rs 14.6 cr of 'unaccounted' cash and seized computer files of suspect payments made between MP and Delhi.

09 Apr 2019 9:30 AM

CBDT is currently on a drive to add new taxpayers, achieve double-digit growth in tax receipts, improve services to customers and recover dues from corporations. (Photo: ANI)

P C Mody takes charge as new CBDT chief

Mody belongs to the Indian Revenue Service (batch 1981) and takes over from Chandra, who has been appointed as an Election Commissioner.

16 Feb 2019 3:25 PM

The CBDT formulates policy for the tax department. (Photo: PTI)

Linking Aadhaar-PAN is mandatory for tax filers; to be completed by Mar 31: CBDT

The Supreme Court on February 6 had confirmed that linkage of PAN with Aadhaar is mandatory for filing of ITRs.

15 Feb 2019 4:25 PM

The CBDT, the apex policy making body for direct taxes, plans to provide e-PAN (Permanent Account Number) within four hours of receiving an application.

Tax returns filed up 50 per cent

The CBDT has also sent out two crore SMS to people who had not filed returns or those whose income did not match with their filings.

05 Dec 2018 12:50 AM

The proposal will be vetted by the Finance Ministry and sent for final approval to the Prime Ministers Office (PMO) before it is cleared by the Union cabinet. (Representational Image)

Govt to soon honour consistent taxpayers, policy proposal in works

An ambitious policy is in the pipeline to 'facilitate' honest taxpayers in availing a variety of public services on priority.

14 Oct 2018 7:39 PM

Gross direct tax collection in the first six months of the financial year grew 16.7 per cent to Rs 5.47 lakh crore, Finance Ministry said on Thursday.

Gross direct tax collection grows 16.7 pc to Rs 5.47 lakh crore in Apr-Sept

The Central Board of Direct Taxes has collected Rs 2.10 lakh crore as advance tax.

04 Oct 2018 12:39 PM

The government on Monday extended by a fortnight till October 15 the deadline for filing Income Tax Return (ITR) and audit report for financial year 2017-18.

Govt extends deadline for filing I-T Return, audit report till October 15

However, there shall be no extension of the due date for the purpose of section 234A (Explanation 1) of the I-T Act, 1961.

24 Sep 2018 5:37 PM

The party also expressed fear of possible “harassment” by agencies over the issue.(Representational Image)

Election Commission warns AAP of action over discrepancies in fund reports

Party says notice ‘poor interpretation’ of basic accounting practices.

12 Sep 2018 6:06 AM

The income tax department on Thursday said it has picked up only high tax evasion cases for scrutiny, which account for around 0.35 per cent of the 6.86 crore returns filed for Assessment Year 2017-18. (Photo: ANI)

Only 0.35 pc of I-T returns filed last year to be scrutinised: CBDT

Sushil Chandra said that the department has faith on the income tax payers.

09 Aug 2018 2:21 PM

The Central Board of Direct Taxes (CBDT) signed its 232nd Advance Pricing Agreement (APA) in the month of July. (Photo: ANI)

CBDT signs nine Unilateral Advance Pricing Agreements in July

Issues like capacity utilisation adjustment; treatment of AMP expenses and others have been carefully examined and resolved.

02 Aug 2018 12:17 PM

“The due date for filing of Income-Tax returns for assessment year 2018-19 is 31.07.2018 for certain categories of taxpayers.

New deadline to file tax returns

The law of levying late filing fees under was introduced in the Union Budget 2017 and became effective for FY18.

27 Jul 2018 6:48 AM

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Shobhaa De