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The CBDT said it has noticed that taxpayers and professionals have not been able to keep up with the pace of change and hence wide gap has emerged between the initiatives undertaken by the department and the acceptance by the stakeholders.

Tax dept signs three APAs with taxpayers

The three APAs signed today pertain to engineering goods and shipping sectors of the economy.

5 Jan 2017 9:31 AM IST

The official further said that inflows of funds into Jan Dhan accounts was the highest in the first week after demonetisation at Rs 20,224 crore, but after that the deposits went down substantially. (Photo: Screengrab)

Over Rs 700 crore deposits in N-E Jan Dhan accounts

Most of the deposits were recorded in zero balance Jan Dhan accounts.

5 Jan 2017 1:43 AM IST

CBDT has made available in the Compliance Module on the e-filing portal of the Income Tax Department the information relating to the identified non-filers.

Direct tax collections in Mumbai, Delhi in single digit

The department collected Rs 5.54 trillion during the reported period from across the country from Rs 4.88 trillion a...

28 Dec 2016 7:45 PM IST

Officials said the department will keep an eye on the deposits in excess of Rs 2.50 lakh made in saving accounts and Rs 12.50 lakh in current accounts post demonetisation.

I-T to levy 137 per cent penalty on black money recovery

The department says tax dodgers can come clean by paying 50 per cent on bank deposits post demonetisation.

27 Dec 2016 10:50 AM IST

Income-tax sources said more than Rs 5.5 crore unaccounted cash was seized during the raids, besides property documents and jewellery worth over Rs 89 crore.

Reveal repaid loans over Rs 2 lakh: I-T

The limit has been kept at Rs 2 lakh so as not to harass small tax payers.

10 April 2017 2:15 AM IST

Company had on January 24, 2014 received a draft assessment order for the alleged capital gains it made in 2006.

Tax dept slaps fresh demand note of Rs 10,247 cr on Cairn

Company had on January 24, 2014 received a draft assessment order for the alleged capital gains it made in 2006.

9 April 2017 1:53 PM IST

Tax payers will also need to quote their Aadhaar number while filing their returns as per the recently passed amendments in the Finance Bill.

Tax collection from Mumbai falls below target in FY17

Mumbai zone has missed the target of Rs 2.79 trillion for fiscal 2017 by a wafer-thin margin.

9 April 2017 11:56 AM IST

Tax payers will also need to quote their Aadhaar number while filing their returns as per the recently passed amendments in the Finance Bill.

Tax evasion of more than Rs 1.37 lakh crore detected in last 3 yrs

Tax department has made it mandatory to quote PAN for cash deposits above Rs 50,000.

7 April 2017 1:38 PM IST

The money recovered by ED. (Photo: ANI)

Rs 100 crore black money: I-T raids at 50 locations across India

This is the first major I-T action after the black money window of the Pradhan Mantri Garib Kalyan Yojna.

6 April 2017 8:19 PM IST

Tax payers will also need to quote their Aadhaar number while filing their returns as per the recently passed amendments in the Finance Bill.

I-T warns against cash dealings of Rs 2 lakh, seeks tip-off

In the 2017-18 Budget, Finance Minister Arun Jaitley had proposed to ban cash transaction of over Rs 3 lakh.

2 Jun 2017 1:32 PM IST

Income Tax officials conducted a raid at Tamil Nadu Chief Secretary Rammohan Raos residence in Chennais Anna Nagar on Wednesday. (Photo: PTI)

I-T dept to scrutinise tax relief claims by sick cos

Tax relief for sick companies approved by Board for Industrial and Financial Reconstruction.

15 Feb 2017 3:27 PM IST

I-T department said that Centralised Processing Centre (CPC) has already processed over 4.19 crore income tax returns (ITRs) and issued over 1.62 crore refunds during the period.

I-T claims 42 per cent higher refunds

There has also been 20 per cent increase in people filing their income-tax returns electronically.

14 Feb 2017 6:48 AM IST