Income Tax

IT dept completes issuing refunds for 2.45 tax returns

The Income tax department has already processed and issued refunds for 2.45 crore returns for assessment year 2023-24. A total…

1 year ago

Tamil Nadu-based bank red flagged for keeping Income Tax Dept. in dark on Rs 3,610 crore deals

The Income-Tax Department has in the course of its verification process found that a prominent Tamil Nadu-based Bank has failed…

1 year ago

Centre doubles payout to states from tax kitty in June

The Union government today announced that it has released Rs 1.18 lakh crore to states as tax devolution which is…

1 year ago

Over 400 J&K officials booked in income tax refund scam

Srinagar: On a complaint from the Income Tax Department, the Jammu and Kashmir police’s crime branch has registered two first…

1 year ago

Netflix income in India under taxman’s scanner

The Income Tax Department is seeking to impose a tax on Netflix Inc's income earned from streaming services in the…

2 years ago

CBDT notifies new Income-tax Return Forms for this year

The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2023-24. These…

2 years ago

Income tax conducts ‘survey’ at BBC’s Delhi, Mumbai offices; employees’ phones, computers seized

Income Tax officials are conducting 'survey' operations on the Indian offices of the British public broadcaster BBC in both Delhi…

2 years ago

Budget 2023 focuses on investment and consumption, touching all segments

The Union Budget – the fifth presented by Finance Minister Nirmala Sitharaman -- reflects Prime Minister Narendra Modi’s emphasis on…

2 years ago

ED attaches Dubai bungalow of Ludhiana biz man in Rs 5600 crore scam but Punjab cops drag feet

Chandigarh: While the Punjab police have failed to arrest one of the main accused in the Rs 5,600 crore National…

2 years ago

Direct tax collection jumps 24% in current financial year

The gross collection of direct taxes during April to October 8 of the current financial year, has risen by 23.8…

2 years ago

Taxpayers to benefit as Govt decriminalises some offences under Income-tax law

In conformity with the Government’s policy of facilitating ease of doing business and decriminalisation of offences, the Central Board of…

2 years ago

Rs 100 crore black money trail detected in tax raid on two business groups in Maharashtra

The Income Tax Department detected unaccounted income of more than Rs. 100 crore in a search and seizure operation on…

2 years ago

Tax raid on big manufacturing group in Kolkata unearths Rs 250 crore black money deals

The Income Tax Department has unearthed unaccounted income exceeding Rs 250 crore in a search and seizure operation carried out…

2 years ago

Rs 250 crore black money trail detected in tax raid on two leading Kolkata builders

The Income Tax Department has detected unaccounted income of more than Rs 250 crore in a search and seizure operation…

2 years ago

Rs 70 crore in hard cash & jewellery seized in tax raid on two Maharashtra steel manufacturers

<p> The Income Tax Department has seized unaccounted cash to the tune of Rs 56 crore as well as bullion…

2 years ago

Rs 150 crore in black money unearthed in tax raid on prominent Jaipur-based business group

<p> The Income Tax Department has unearthed unaccounted income exceeding Rs 150 crore in a search and seizure operation on…

2 years ago

Rs 80 crore black money trail detected in tax raid on leading Madhya Pradesh group

<p> The Income Tax Department has detected a black money trail to the tune of Rs 80 crore in a…

2 years ago

Rs 200 crore black money trail detected in tax raids on Tamil Nadu film industry

<p> The Income Tax Department has detected undisclosed income exceeding Rs 200 crore in a search and seizure operation against…

2 years ago

Rs 150 crore black money trail unearthed in tax raids on private hospitals in Delhi-NCR

<p> The Income Tax Department has unearthed unaccounted income of more than Rs 150 crore in search and seizure operations…

2 years ago

Rs 1,000 crore black money trail detected in tax raid on leading Gujarat business group

<p> The Income Tax Department has detected unaccounted transactions exceeding Rs 1000 crore in a search and seizure operation against…

2 years ago

Income Tax officials raid 40 premises linked to Tamil film producer Anbu Cheziyan

<p> In a massive crackdown, the Income Tax Department carried out raids at multiple locations believed to be linked to…

2 years ago