Income Tax News
CAG report on Direct taxes
22 December 2017 at 12:01HighlightsThe Comptroller and Auditor General of India conducts the audit of receipts of the Union Government under section 16 of the Comptroller Auditor General of India (Duties, Powers and Conditions of Service) Act, 1971. This Report primarily dis
Release of Income Tax Return Statistics for AY 2015-16 by CBDT
21 December 2017 at 10:54In continuation of its efforts to place more and more information in public domain, the Central Board of Direct Taxes(CBDT) has released data relating to distribution of income and tax payable in respect of returns filed for the Assessment Year 2015-
Measures taken by Government to Control and curb Parallel Economy
20 December 2017 at 12:46Measures taken by Government to Control and Curb Parallel Economy and Unaccounted Transactions The Government has taken several measures to effectively control and curb the prevalence of parallel economy and unaccounted transactions. Major steps in t
Bank suggest to raise TDS limit on interest from Rs 10000
18 December 2017 at 10:56The Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley holds his 7th Pre-Budget Consultation Meeting with the representatives of the Banks and Financial Institutions (FIs) in national capital today; FM: In order to strengthen the bank
Extension of deadline to 31st March for Aadhaar Submission to banks
14 December 2017 at 11:00Extension of deadline till 31.3.18 for submission of Aadhaar number, and Permanent Account Number or Form 60 by client to the reporting entityAfter considering various representations received and inputs received from Banks, it has been decided to no
ICAI Pre-budget Memoranda 2018
12 December 2017 at 11:14Direct Taxes and International Tax Indirect Taxes
DRI recovers Rs 50 cr of demonetised currency
11 December 2017 at 11:08DRI Strikes Against Black Money - Recovers about Rs.50 Crores of Demonetized Currency
Direct tax collection grows by 14.4% upto November
11 December 2017 at 11:07Direct Tax Collections for Financial Year 2017-18 show Growth of 14.4% upto November, 2017 The provisional figures of Direct Tax collections up to November, 2017 show that net collections are at Rs. 4.8 lakh crore which is 14.4% higher than the net c
Linking Aadhaar to PAN deadline extended to 31st March 2018
09 December 2017 at 12:21CBDT extends date till 31.3.18 for linking of Aadhaar with PAN Under the provisions of recently introduced section 139AA of the Income-tax Act, 1961 (the Act), with effect from 01.07.2017, all taxpayers having Aadhaar Number or Enrolment Number are r
Income Tax Department suspends an officer for harassing the taxpayer
09 December 2017 at 12:21A complaint was received making serious allegations against Shri D. K. Meena, Deputy Commissioner of Income Tax, posted at Surendranagar in Gujarat Region for harassing a taxpayer in a scrutiny case with malafide intention. The officer was alleged to
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