Tag: Income Tax Department

New Delhi: The I-T Department on Monday gave a one-time relaxation to taxpayers who have not yet verified their e-filed tax returns for assessment years 2015-16 to 2019-20, and asked them to complete the verification process by September 30, 2020. A taxpayer filing Income Tax Returns (ITR) electronically without digital signature has to verify it […]

New Delhi: In a bid to prevent suppression of information by taxpayers, the income tax department will provide full details of their financial transactions such as sale and purchase of stocks, real estate transactions, payment details of credit card bills in the form of a statement in the new Form 26AS. #BREAKING New form 26AS […]

New Delhi: In a major relief for the Tata Education and Development Trust, the Income Tax Appellate Tribunal (ITAT) has ruled in its favour against the Commissioner Income Tax (CIT) appeal order wherein a demand of more than Rs 220 crore was levied by the tax department. A bench of ITA President Justice P.P. Bhatt, […]

New Delhi: The Income Tax Department has conducted raids against some Chinese individuals and their local associates for allegedly indulging in a money laundering racket involving Rs 1,000 crore using shell or dubious firms, the CBDT said on Tuesday. It said the “subsidiary of Chinese company and its related concerns have taken over Rs 100 […]

New Delhi: The Income Tax Department has issued a lengthy instruction manual running into hundreds of pages for filling up the tax returns for the assessment year 2020-21. The Income Tax Department has issued a detailed step by step reckoner for filing tax returns to be submitted under different heads. These instructions are guidelines to […]