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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.

'Govt must review tax on cash deals over Rs 2 lakh'

TDS on transactions above Rs 2 lakh could be revisited to revive consumer demand.

22 Feb 2017 5:57 PM IST

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

TDS default: I-T dept issues over 850 prosecution notices

The I-T department has netted Rs 2.85 lakh crore revenue till January 31, 2017 under the TDS category.

22 Feb 2017 3:31 PM IST

No verification for Rs 5 lakh deposit by above 70

Tax department has fixed thresholds for deposits made; Rs 2.5 lakh for other individuals.

22 Feb 2017 3:14 PM IST

The government has proposed to halve the income tax to 5 per cent for those earning between Rs 2,50,000 and Rs 5,00,000 per annum, in a relief to the middle class.

Tax dept to start consultation on changes in Customs Act

Changes have also been proposed relating to the payment of duty and interest.

19 Feb 2017 12:35 PM IST

Misa Bharti with father and RJD chief Lalu Prasad Yadav (Photo: PTI)

Lalu's daughter Misa Bharti skips I-T questioning; show notice served

Party sources said that she had sent her lawyer to the agency seeking a fresh date for appearance.

6 Jun 2017 7:00 PM 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.

I-T lens on 60,000 people to unearth black cash

Some 9.46 lakh persons responded on pre-defined parameters of sources of the cash deposits.

15 April 2017 2:22 AM IST

Indian Parliament

Non-serious parties should be kept out of politics: Parliamentary...

The Committee is of the view that provisions relating to registration of political parties needs to be made more...

14 April 2017 5:55 PM IST

RBI had issued a notification saying that the withdrawal limit of cash from savings bank accounts will be relaxed to Rs. 50,000 from February 20

Rajasthan chaiwalla under I-T lense for giving Rs 1.5 cr dowry

Leela Ram Gujjar was shown in a viral video flaunting cash and counting them in a loud voice.

13 April 2017 1:01 PM IST

Screenshot from the viral video. (Photo: YouTube | RNews1 Network)

Video: Rajasthan tea seller marries off 6 daughters, gives Rs 1 crore...

The I-T department served the notice to Gujjar after video of him giving Rs 1 crore for dowry went viral on social...

13 April 2017 11:28 AM IST

The move is expected to prompt banks to lower the deposit rate in line with the small savings rate as offered by the government.

Bank accounts face suspension: What FATCA rules say

Foreign Accounts Tax Compliance Act enables automatic sharing of investor information between signatory parties.

12 April 2017 1:06 PM IST

PAN card is impotant document issued by I-T department.

CBDT issues PAN within a day to new cos, introduces e-PAN

CBDT has introduced the Electronic PAN (e-PAN) card, which is sent by email to all applicants, including individuals.

11 April 2017 2:36 PM IST

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

Will block bank account if not self-certified: CBDT to FIs

Decision wants financial institutions to comply with FATCA provision and avoid blocking of accounts.

11 April 2017 2:15 PM IST