Tag: Income Tax

Bhubaneswar: The Income Tax sleuths on Tuesday seized as many as 20 sacks stuffed with coins of various denominations from two buses following raids in two different places in the capital city. The coins had reportedly been transported to Bhubaneswar from Kolkata. Acting on a tip-off about the transportation of goods including food and others […]

New Delhi: The government on Monday invited comments on proposed changes to income tax rules for rationalising the process of certificate issuance for no deduction of income-tax or deduction at lower rates, and to take it online. “In order to rationalise and make the process of issuance of certificate for no deduction of tax or […]

Mumbai: Fourteen years after he was caught over corruption charges, a former income tax commissioner was sentenced to three years in jail while his wife was jailed for two years. Special CBI Judge R.N. Joshi found A.K. Purwar and his wife Chhaya Purwar guilty of various charges on Friday, an official said on today. While […]

Government servants having worked in any intelligence or security-related organisation have been directed through a notification not to make any publication without prior clearance from the competent authority.

Bhubaneswar: Former Kendrapara MP Baijayant ‘Jay’ Panda today strongly refuted allegations of money laundering and tax evasion against him reported in a section of national media today. Some political parties see it as a vendetta politics against the former parliamentarian as he was targeted on several occasions in the past. Reacting to the report, Panda […]

New Delhi: The Income Tax Department will “only” issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication. The department said refunds will be sent to bank accounts as it will issue “only e-refunds from March 1, […]

Bhubaneswar: Barely two days after former Parliamentarian Baijayant ‘Jay’ Panda joined the BJP, unwarranted attempts were made to defame the senior leader. Bhupendra Singh Patel, a self-proclaimed investigative journalist who also claims himself to be an RTI activist, today organised a press meet at the Odisha Press Club in Bhubaneswar and leveled allegations of money […]

Mumbai: Megastar Amitabh Bachchan paid Rs 70 crore as tax for the financial year 2018-19. “Mr Bachchan has paid Rs 70 crore tax for the financial year 2018-19,” his spokesperson said in a statement. In the recent past, Big B also paid off loans of 2,084 farmers in Muzaffarpur, Bihar. He has also donated Rs […]

New Delhi: The Income Tax department has notified changes in Form 16 that requires more details about deductions under tax saving schemes, investment in tax saving schemes and income from other sources. The amended form will come into effect from May 12, 2019. The move is aimed at stricter scrutiny of claims made by assessees […]

Bhubaneswar: The Central Board of Direct Taxes (CBDT) today clarified that no changes have been made in the Income Tax Return (ITR) forms including ITR-2 and ITR-3. In a release, CBDT stated that no changes have been made since the notification was made on April 1, 2019, the first day of the assessment year 2019-20. […]

Bhubaneswar: The Central Board of Direct Taxes (CBDT) today extended the ‘due date’ for filing of Income Tax Returns (ITR). As per the latest announcement, the deadline of filing ITR has been extended from July 31, 2019 to August 31, 2019 in respect of certain categories of taxpayers who were liable to file their Returns […]

New Delhi: Finance Minister Nirmala Sitharaman has got loads of support from the Union Cabinet and her party on the steps announced by her to combat the economic slowdown in the country. Prime Minister Narendra Modi gave a thumbs up to the announcements tweeting: “The measures announced by Finance Minister Nirmala Sitharaman will facilitate ease […]

New Delhi: In an apparent sign of economic slowdown, India’s GST collections in August dropped to Rs 98,202 crore from over Rs 1.02 lakh crore in the previous month, the finance ministry said on Sunday. However, total Goods and Services Tax (GST) mop-up for August this year was 4.5 per cent higher than the Rs […]

New Delhi: The ambitious ‘e -assessment’ scheme, also called the faceless or nameless assessment, for income-tax payers has been notified by the Central government. The notification gazette was published by the Union Finance Ministry on Thursday. The scheme envisages creation of a national e-assessment centre. The centre will serve notices to the assessees specifying the […]

New Delhi: In view of the severe Covid-19 pandemic raging requests put forward by taxpayers, tax consultants and other stakeholders, the government has decided to provide further relief to taxpayers…