Income Tax News

Direct tax collection at 5.47 lakh crore growing at 16.7%

05 October 2018 at 10:55

Direct Tax Collections for F.Y. 2018-19 up to September, 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh crore which is 16.7% higher than the gross collections for the corresponding period of last yearThe provisional figur

Posted in Income Tax | 2 comments | 7257 Views

CBI Arrests an Income Tax Inspector in A Bribery case of Rs. 10 Lakh

05 October 2018 at 10:55

The Central Bureau of Investigation has arrested an Income Tax Inspector, working in the office of Joint Commissioner, Income Tax, Range-III, Lucknow and a private person in a bribery case of Rs. 10 lakh. A case was registered U/s 7 and 7A of PC Act,

Posted in Income Tax | 3615 Views

Key Features of new TDS Return preparation software

04 October 2018 at 10:57

i. Integration of new Encryption certificate in File Validation Utilities (FVUs)- Renewed Encryption certificate with extended validity has been integrated in FVUsii. Incorporation of latest File Validation Utility (FVU) version 5.9 (applicable for T

Posted in Income Tax | 3 comments | 9486 Views

Tax audit and ITR due date extended to 15th October

24 September 2018 at 16:58

CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept,2018 to 15th Oct, 2018

Posted in Income Tax | 16 comments | 96498 Views

Gurugram DGGI arrests two businessmen for fraudulent Rs. 79.21 crore ITC invoices

21 September 2018 at 15:35

Gurugram Zonal Unit of the Directorate General of GST Intelligence (DGGI) arrests two businessmenin a case of fraudulent issuance of Input Tax Credit (ITC) invoices without actual supply of goods, involving evasion of approximately Rs. 79.21 crore on

Posted in Income Tax | 1 comments | 5061 Views

ICAI sends representation to Govt to extend Tax audit reports due date

19 September 2018 at 12:03

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(Set up by an Act of Parliament)ICAI/DTC/2018-19/Rep�3617th September, 2018Shri Sushil Chandra Ji,Chairman,Central Board of Direct Taxes,Ministry of Finance,Government of India,North Block,New Delh

Posted in Income Tax | 3 comments | 23922 Views

Furnishing of father's name not compulsory for PAN application

01 September 2018 at 12:27

Draft notification proposing amendments in rule 114 of the Income-tax Rules, 1962 and permanent account number application Forms (Form 49A and Form 49AA) - Inviting comments of stakeholdersRule 114 of the Income-tax Rules, 1962 (I.T.Rules) inter alia

Posted in Income Tax | 8 comments | 8490 Views

Govt. invites comments on draft amended Form 13 for Lower Deduction of TDS u/s 197

21 August 2018 at 10:52

Income-tax Rules, 1962 (I.T.Rules) prescribe Form No.13 for filing an application for seeking a certificate under Section 197 and/or under Section 206C (9) of the Income-tax Act, 1961 (the Act), for no deduction of tax or deduction/collection of tax

Posted in Income Tax | 8097 Views

SEBI issues guidelines to Control Black Money in Share Market

11 August 2018 at 17:48

Securities and Exchange Board of India (SEBI), vide circular dated April 27, 2007, has mandated that PAN would be the sole identification number for all participants transacting in the securities market, irrespective of the amount of transaction.Sche

Posted in Income Tax | 4050 Views

Action on those Converting Black Money into White during Demonetization

08 August 2018 at 11:09

Appropriate action by the Income-tax Department (ITD) and other Law Enforcement Agencies has been taken against those involved in the misuse of the Scheme of Demonetization.Such actions by the Income-tax Department included among others, conducting s

Posted in Income Tax | 1 comments | 9264 Views