Income tax department notifies return forms for firms
The Central Board of Direct Taxes (CBDT) has notified tax returns forms for non-salaried class, including companies, partners in firms and individuals deriving their income from proprietary business or profession for 2015-16.
Aug 02, 2015, 22:33 PM ISTNew ITR forms for non-salaried individuals: Which form should you file?
The Income Tax department has notified the revised set of ITR forms for non-salaried individuals to file their returns for the assessment year 2015-16.
Aug 01, 2015, 12:40 PM ISTSmall bank licence: RBI asks I-T dept to verify applicants' credentials
CBDT has asked its investigation and regular assessment ranges across the country to "quickly" collect the data and submit them so that RBI can take a final view on the grant of licences to eligible parties.
Jul 26, 2015, 11:32 AM ISTI-T dept to bring 1 crore new people under tax net this fiscal
The Income Tax department has launched an ambitious drive to bring under its net one crore new taxpayers after the government recently asked the taxman to achieve the target within the current fiscal.
Jul 19, 2015, 14:23 PM ISTI-T warns of action against those disclosing secret tax info
The Central Board of Direct Taxes (CBDT) said the confidentiality of taxpayers' information has assumed a greater significance in view of "increased availability of information" regarding offshore tax evasion, tax avoidance and stashing of unaccounted money abroad.
Jul 19, 2015, 12:50 PM ISTBlack money law: FinMin wants people to address queries to CBDT
Finance Ministry Tuesday dismissed some media reports on the new black money law as "surmises" and asked people to address queries directly to the revenue department.
Jul 14, 2015, 19:52 PM ISTBlackmoney: CBDT rejigs committee to handle FATCA cases
Through an order issued days before FATCA was signed by the two countries on July 9, the CBDT has increased the strength of the panel from existing seven to eight members.
Jul 12, 2015, 13:42 PM ISTFile appeals on merit: CBDT to taxman
Disapproving of the 'casual' attitude of taxmen in filing appeals and pursuing litigation in important revenue matters, the CBDT has asked the I-T department to take legal recourse only in "deserving" cases.
Jul 12, 2015, 12:30 PM ISTCompliance window last chance to come clean on black money: Govt
Terming the rules for the new black money law "simple and clear", Finance Ministry on Saturday said the ongoing compliance window will be the last chance to come clean on undisclosed foreign assets.
Jul 04, 2015, 21:01 PM ISTTax, penalty to be levied at market price under black money law
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
Jul 03, 2015, 18:35 PM ISTGovt notifies rules for asset valuation under black money law
Government has notified the rules for calculating overseas income and assets under the stringent foreign black money law that came into force on July 1.
Jul 03, 2015, 16:01 PM ISTE-filing: I-T dept to send 24-hr valid password to taxpayers
The deadline for filing ITRs is August 31.
Jun 29, 2015, 18:43 PM ISTUse online tax calculator to file ITR for AY 2015-16
The CBDT had notified the new forms early this week ushering in the ITR filing season which ends on August 31.
Jun 28, 2015, 10:45 AM ISTWorking to make life easy for taxpayers: CBDT
The CBDT is working to create an atmosphere where a taxpayer's life becomes so "easy" that they are never compelled to visit an I-T department office and the hassle of paying taxes is "eliminated totally", its chief has said.
Jun 25, 2015, 14:47 PM ISTNo taxman can terrorise assesses of scrutiny: CBDT chief
Seeking to allay concerns of taxpayers, CBDT has asked them not to get terrorised by threats of their cases being wilfully chosen for "scrutiny" by the taxman as the procedure is fully electronic and devoid of any human intervention.
Jun 24, 2015, 15:54 PM ISTGovt notifies new and simplified ITR forms
The Income Tax department has notified the new set of ITR forms, including a three-page simplified one, for taxpayers to file their returns for assessment year 2015-16.
Jun 23, 2015, 20:48 PM ISTAll I-T refunds to be put directly in bank accounts: CBDT
The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department.
Jun 23, 2015, 16:35 PM ISTBlack money: Compliance window to be short and out soon
They added the window could be kept "as short as possible" as a 'trend analysis' of the subject has shown that the target audience for this special exercise would not be a very large base.
Jun 22, 2015, 14:52 PM ISTNo coercion by taxmen to recover MAT dues, says CBDT
In a breather for investors, CBDT on Tuesday said taxmen won't resort to coercive methods to recover dues towards Minimum Alternate Tax (MAT) on capital gains made by FIIs and will wait for the Supreme Court order on the issue.
Jun 16, 2015, 17:58 PM ISTEvasion spoiling compliance culture, I-T will act tough: CBDT
The menace of tax evasion is "spoiling" the culture of compliance in the country and the Income Tax department will ensure that chronic evaders are not able to get away without facing court cases, a top CBDT official on Tuesday said.
Jun 16, 2015, 17:56 PM IST