Govt's direct tax collection to miss revised target for FY15
Government's direct tax mop-up is set to miss the revised target for the 2014-15 fiscal as the collection so far has been only about Rs 6,30,000 crore, an I-T department official said.
Mar 31, 2015, 16:09 PM IST
I-T dept publishes names of 18 tax defaulters, 11 from Gujarat
In a bid to force them these entities paying their dues, the Central Board of Direct Taxes (CBDT) had asked the I-T department to post on its website, few days back, the names of 18 defaulters, of whom 11 are based in Gujarat.
Mar 31, 2015, 10:56 AM IST
CBDT asks I-T dept to act on public grievances after PM's rap
CBDT has called for according a "top priority" to addressing taxpayers' grievances by the Income Tax department after Prime Minister Narendra Modi expressed his disappointment about delays in corrective action and harassment of the assesses by tax officials.
Mar 29, 2015, 16:42 PM IST
CAG blames I-T Dept for Rs 1348 cr tax loss in pharma sector
Coming down heavily on the I-T Department, CAG has said non-compliance of procedures for giving incentives to pharmaceutical firms, including Ranbaxy, Dr Reddy's and Piramal, resulted Rs 1,348.44 crore loss to the exchequer.
Mar 20, 2015, 19:28 PM IST
Advance tax: SBI pays 23% more at Rs 1794 cr, LIC outgo up 15%
A clutch of financial institutions, including SBI, LIC and HDFC, have showed double digit growth in terms of advance tax payments for March quarter, say industry sources.
Mar 16, 2015, 19:28 PM IST
CBDT sets up committee to simplify tax procedures
In yet another step to simplify tax procedures, CBDT has constituted a committee to redraft existing guidelines for undertaking write-off procedures in irrecoverable tax demand cases.
Feb 12, 2015, 21:54 PM IST
Shortfall in TDS collections: CBDT asks I-T dept to act
The board, according to sources, asked I-T officials to bolster their efforts and give special emphasis on tax collections under the Tax Deducted at Source (TDS) and Advance Tax categories.
Feb 01, 2015, 10:06 AM IST
CBDT asks officials not to pursue Vodafone-type tax cases
The Tax Department on Thursday asked its field officers not to pursue transfer pricing cases similar to Vodafone's, a move being seen as a major relief to multinationals fighting such cases involving tax demands of thousands of crores of rupee.
Jan 29, 2015, 19:53 PM IST
Govt not to challenge transfer pricing rulings in Vodafone, other cases
Wooing overseas investors, government Wednesday decided against challenging the Bombay High Court decision favouring Vodafone in the Rs 3,200 crore tax case and adopt a similar approach in transfer pricing litigations involving other MNCs like Shell.
Jan 28, 2015, 18:12 PM IST
CBDT issues directions for avoidance of baseless assessment
CBDT has issued a set of instructions for avoidance of baseless assessment and disposal of grievances within a stipulated time period.
Nov 10, 2014, 15:58 PM IST
Less than half of HSBC list accounts have no money: SIT report
The I-T department is now mulling prosecution against 300 entities figuring in the list of 628 entries in the HSBC Geneva list given to the Supreme Court recently.
Nov 06, 2014, 16:45 PM IST
I-T dept should not lose sight of domestic black money: Jaitley
Addressing the senior officers of the Central Board of Direct taxes (CBDT), he asked tax officials to be assessee friendly while aiming at widening the tax base.
Oct 30, 2014, 18:50 PM IST
Anita Kapur likely to be new CBDT Chairperson
Senior IRS officer Anita Kapur is tipped to be the new chairperson of Central Board of Direct Taxes (CBDT), the apex authority of the Income Tax department.
Oct 28, 2014, 18:32 PM IST
Govt to pay Rs 48,069 cr as IT returns for FY13 and FY14
Government has to pay as much as Rs 48,069 crore as income tax returns for 2012-13 and 2013-14, Parliament was informed on Tuesday.
Aug 05, 2014, 17:05 PM IST
Black money: 'Warehouse' of tax data for I-T in the offing
The Income Tax department has named the new project -- Data Warehousing and Business Intelligence (DWBI), which it plans to operationalise by next year.
Aug 03, 2014, 10:11 AM IST
Conduct non-intrusive investigations: FM tells tax officials
The Minister "exhorted the officers of the Income Tax Department to maximise the use of innovative and non-intrusive methods of investigation," an official statement said.
Jul 23, 2014, 22:08 PM IST
Revenue collection expected to exceed target this fiscal: Jaitley
The government estimates to garner Rs 13.64 lakh crore from both direct and indirect tax collection during the current fiscal.
Jul 21, 2014, 12:23 PM IST
I-T Dept demands Rs 4,800 cr tax from Sahara India
The Supreme Court will be hearing the plea for the release of Subrata Roy on Friday.
Jul 03, 2014, 20:51 PM IST
Arun Jaitley to meet top brass of I-T, CBDT
Finance Minister Arun Jaitely will meet the top brass of the Income Tax department and Central Board of Direct Taxes later this month in the national capital.
Jul 02, 2014, 21:21 PM IST
Operation Hawala: Over $1.5 lakh deposited in Moin Qureshi's wife's accounts
More than USD 1.5 lakh of cash has been deposited in the accounts of Moin Kureshi's wife Nasreen in the last 1-1/2 years in various New York-based big US banks.
Jun 18, 2014, 21:01 PM IST
