income tax act


Taxpayers' appeals in ITAT must mention amount locked in dispute

Jun 13 2018

Income tax payers filing appeals before ITAT will have to provide info relating to the amount locked up in dispute along with a brief case history and the relief claimed.

I-T warns salaried class against filing wrong ITRs

Apr 18 2018

I-T dept cautioned salaried class taxpayers against using illegal means like under-reporting of income or "inflating" deductions while filing their returns.

PAN-Aadhaar linking deadline extended to June 30: CBDT

Mar 27 2018

The CBDT today extended the deadline for the PAN-Aadhaar linking to June 30.

Report on direct tax reforms in 4-5 months: CEA

Mar 26 2018

Chief Economic Adviser Arvind Subramanian said the task force on direct tax reforms will submit its report in the next 4-5 months.

Low-cost home loans face higher risk of defaults: Report

Feb 28 2018

Even as govt policies give huge thrust to affordable housing, data reveals elevated risks for lenders because of a higher propensity among the borrowers to default.

Nirav illegally diverted SEZ diamonds of Rs 1,216 cr to domestic mkt

Feb 19 2018

The IT department has found that in the last financial year the Nirav Modi group had illegally diverted Rs 1,216 crore of diamonds from its SEZ to the domestic market.

I-T dept attaches 7 props of Choksi, Gitanjali group in Mumbai

Feb 19 2018

The I-T dept attached seven properties of the Gitanjali Group and its promoter Mehul Choksi in Mumbai in connection with a tax evasion probe against them.

I-T will tax bitcoin trade; has issued few lakh notices: CBDT

Feb 02 2018

The IT Dept has issued "few lakh" notices to those who have put their funds in bitcoins and it is working to obtain taxes that are due on these investments.

Agreeable to consolidation of both arbitrations: Vodafone to HC

Jan 08 2018

The Vodafone Group told the Delhi High Court that it was agreeable to consolidation of both arbitrations it has initiated against India in connection with a tax demand.

CBDT relaxes norms for MAT on firms facing insolvency

Jan 06 2018

The I-T dept relaxed norms for levy of Minimum Alternate Tax (MAT) on companies facing corporate insolvency proceedings.

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