Friday, January 31, 2020, 3:52 PM
The Economic Survey 2019-20 has proposed the creation of a GSTN like entity called PSB Network(PSBN) and the use of Machine Learning and artificial intelligence to help banks avoid frauds. Under the Public Sector Bank Network (PSBN) the Survey has suggested the use of UIDAI, Udyog Aadhaar and Income Tax Department as identity verification agencies to validate the identity of customers seeking a loan.
Thursday, January 23, 2020, 12:32 PM
The income tax department periodically issues warnings to taxpayers about ways to safeguard themselves against frauds. On Thursday, it sent an email to taxpayers informing them about the genuine sources (email, SMS, and websites) from which they will receive any sort of official communication. This information is also there on the homepage of the income tax department's website.
Monday, January 20, 2020, 11:39 AM
The Income Tax Department has launched searches at multiple locations of the Bharat Hotels Limited group and a leading automobile dealer in connection with a tax evasion probe, officials said on Monday. They said about 8 premises linked to Bharat Hotels CMD Jytosna Suri and promoters of Cargo Motors, dealers of Tata vehicles, are being searched in and around the national capital.
Saturday, January 18, 2020, 4:24 PM
Ahead of the upcoming Delhi Assembly Election 2020, the Income-Tax(I-T) department has started a toll-free number to help people inform it about the stashing of black money. The launch of the toll-free number-1800117574-is a part of the I-T department's efforts to ensure free and fair elections in the national capital. Assembly elections to the seventy seats in Delhi will be held on February 8.
Thursday, January 16, 2020, 10:41 AM
The income tax department has written to the ED, seeking details of its investigation into money-laundering allegations against former ICICI Bank managing director Chanda Kochhar and her businessman husband, Deepak. It made the request after the ED provisionally attached the assets of the couple including a plush South Mumbai residence, under the Prevention of Money Laundering Act, suspecting these to be proceeds of crime.
Wednesday, December 4, 2019, 8:56 PM
The IT-department has issued 22% more refunds till November-28 as compared with the same period of the last-year. The CBDT figures show that refunds in FY 2019-20 was Rs.1.46-lakh-crore as compared to Rs.1.19-lakh-crore, an increase of 22.7%. The income-tax department issued 43-lakh more refunds within 30 days in the FY 2019-20, compared to the previous year, which results in an increase of over 42%.
Tuesday, December 3, 2019, 9:21 PM
The Indian National Congress was served a show cause notice by the Income Tax (I-T) Department on Monday, after it failed to submit documents related to the alleged flow of black money from a Hyderabad firm to the party's coffers. As well, senior Congress office bearers who were summoned by the I-T Department on November 4 did not show up.
07 November 2019, Thursday
You have filed income tax returns and not received the income tax refund. There would be several other concerns you want the tax department to address ...
Saturday, November 2, 2019, 10:03 AM
The income-tax department has cancelled the registration of six Tata Trusts Jamsetji Tata Trust, RD Tata Trust, Tata Education Trust, Tata Social Welfare Trust, Sarvajanik Seva Trust and Navajbai Ratan Tata Trust. The order was issued by the office of the principal commissioner of income tax, Mumbai, on October 31. Tata Trusts said they are studying the order and will take legal recourse soon.
Thursday, October 31, 2019, 1:10 PM
A number of Jet Airways employees have been receiving notices from the income-tax department since the past one week for unpaid tax and penalty that range from 10,000 to over 4 lakh. Though Jet Airways shut down in mid-April, it has not paid its pilots and engineers salaries from January onwards and other employees haven't been paid for March and April.
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