Black money: I-T dept to file complaint against HSBC Geneva
The Income Tax department is soon expected to file a complaint against HSBC bank, Geneva, for allegedly "abetting" tax evasion in India by way of unauthorisedly operating accounts of its citizens in its overseas branch.
Feb 16, 2015, 19:11 PM IST
Direct tax collections up 11.38% in Apr-Jan FY'15
Direct tax collections increased by 11.38 percent to Rs 5.78 lakh crore during the April-January period of current financial year.
Feb 13, 2015, 18:13 PM IST
MNCs may have to disclose details of HQ ops to I-T dept
Multinational companies operating in India will soon have to disclose details of their operations at the country of residence and their revenue income to the Income Tax authorities.
Feb 02, 2015, 18:05 PM IST
Zee Business' Big Expose: Moin Qureshi decoded
In a big expose, Zee Business has revealed details about Moin Akhtar Qureshi's alleged nefarious links with who's who of business, politics and bureaucracy.
Jan 14, 2015, 23:58 PM IST
Rs 1.16 lakh cr undeclared income unearthed in 3 years: Sinha
As the government continues its pursuit of black money held by Indians, the I-T Department has detected undisclosed income totalling over Rs 1.16 lakh crore in the last three financial years, of which real estate accounted for a substantial part.
Dec 16, 2014, 22:10 PM IST
Tribunal upholds I-T stand on raising tax demand on Vodafone
In a fresh blow to Vodafone India, the Income Tax Appellate Tribunal has ruled that the tax authorities have the powers to raise a demand on the telecom major in the Rs 8,500 crore transfer-pricing dispute.
Dec 11, 2014, 19:53 PM IST
Rs 8,900 cr in taxes pending against LIC, SBI, BSNL: Panel
Pulling up Revenue Department for its "inefficiency" in tax recovery, a Parliamentary panel has said that nearly Rs 8,900 crore is pending against just three public sector companies, LIC, SBI and BSNL.
Dec 11, 2014, 18:35 PM IST
Black money: SC asks Centre to ensure IT probe by March, 2015
The Supreme Court Wednesday asked the Centre to ensure that the ongoing income tax probe for suspected black money concerning 627 Indians who have accounts in HSBC bank, Geneva, do not get time barred and be completed by March next year.
Dec 03, 2014, 19:02 PM IST
Govt may miss indirect tax collection target in FY'15
Indirect tax collection may fall short of the annual target by an estimated Rs 90,000 crore in the current fiscal, mainly because of subdued industrial activities, a senior finance ministry official has said.
Nov 26, 2014, 21:19 PM IST
Outstanding tax demand up at Rs 5.75 lakh cr in FY'14
The outstanding direct tax demand increased to Rs 5.75 lakh crore in 2013-14, up 18.33 percent over the previous fiscal, the government said Tuesday.
Nov 25, 2014, 22:08 PM IST
I-T dept seizes over Rs 135 cr cash, jewellery from Sahara group
The Income Tax department has claimed to have seized cash of over Rs 135 crore from the premises of Sahara group during its raids on its two premises in Delhi and Noida in connection with alleged tax evasion charges.
Nov 24, 2014, 21:38 PM IST
RBI asks taxpayers to pay income tax dues in advance
The Reserve Bank Wednesday asked taxpayers to deposit income tax dues in advance at RBI or authorised bank branches to avoid last minute rush at December end.
Nov 19, 2014, 21:41 PM IST
IT dept loses Rs 18,000 cr transfer pricing case against Shell
On the heels of it losing a similar case against telecom major Vodafone, the IT department lost its Rs 18,000-crore transfer pricing cases against oil major Shell India at the Bombay High Court, which on Tuesday quashed the department's tax order.
Nov 18, 2014, 20:56 PM IST
CBDT asks officials to refrain from adversaries to assessees
The Central Board of Direct Taxes (CBDT) has asked its officials to refrain from adversaries to the assessees.
Nov 08, 2014, 12:39 PM IST
CBDT asks I-T to tap over 5L taxpayers who didn't file returns
As part of efforts to boost revenue collection, CBDT has asked the Income Tax Department to monitor cases of over five lakh taxpayers who have not filed their latest tax returns.
Oct 31, 2014, 15:32 PM IST
Your insurance payout will now come after a tax cut!
In a quiet move, the impact of which is being felt only now, the statute books have been amended to deduct tax at source on some insurance payouts, which could particularly affect people above 45 and those with single-premium policies.
Oct 19, 2014, 17:59 PM IST
FinMin restructures indirect taxes formations
The Finance Ministry Wednesday restructure indirect taxes formations with a view to provide better tax payer services and deepen the tax base.
Oct 15, 2014, 21:09 PM IST
Indirect tax collections up 5.8% in April-September
Indirect tax collections inched up by 5.8 percent in the April-September period of this fiscal.
Oct 14, 2014, 18:03 PM IST
Don't harass taxpayers on pretext of scrutiny: CBDT to I-T
The Central Board of Direct Taxes (CBDT), henceforth, the ambit of these enquiries should be limited to the verification of specific questions.
Sep 28, 2014, 15:05 PM IST
I-T dept launches enhanced, 'single window' website for taxpayers
An updated version of the website -- www.Incometaxindia.Gov.In -- will act as the 'single window' for all activities and online services offered by the I-T department.
Sep 22, 2014, 19:09 PM IST
