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Latest Articles in cbdt

Number Of Taxpayers In India Goes Up From 4 Crore To 6.26 Crore In FY17

Income taxpayer base moved up substantially to 6.26 crore at the end of the last fiscal, from nearly 4 crore earlier: CBDT

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Find Out Potential Taxpayers; Focus On Smaller Cities: CBDT

With almost 91 lakh new taxpayers brought in the tax net last fiscal, the CBDT has asked the Income Tax Department to increasingly identify those who can pay tax but are not doing so, with a special focus on smaller cities

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Income Tax Department Launches 'Operation Clean Money'-II, To Probe 60,000 People

The Income Tax department has identified over 60,000 "high risk" persons for probe under the second phase of the 'Operation Clean Money' which was launched Thursday to detect black money generation post demonetisation

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No Restriction On Cash Withdrawals From Banks, Post Offices: CBDT

Ban on cash transactions in excess of Rs 2 lakh will not be applicable to withdrawals from banks and Post Office savings accounts, the Income Tax Department has said

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Operation Clean Money: Government To Issue Notice To Non-respondents On Bank Deposit

Keeping up the heat, the income tax department will issue statutory notices to all those who have failed to respond to its SMS and e-mail queries seeking explanation on bank deposits made after demonetisation

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No Threat Or Show Cause To Taxpayers: CBDT Tells Taxman

The CBDT has asked the taxman to ensure there is no "threat, warning or show cause" notice to taxpayers contacted by it under 'Operation Clean Money' that is aimed at checking black money post-note ban

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Tax Filings, Refunds See Huge Surge

More Indians filing tax returns and over 58% growth in tax refunds in past three years augurs well for the economy

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Taxman Not To Ask Questions On Deposits Up To Rs 2.5 Lakh: CBDT

Providing clarity on scrutiny of deposits made in banks post demonetisation, I-T department on Monday said no questions will be asked about deposits of up to Rs 2.5 lakh and only those accounts will be probed that do not match the tax returns

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Taxman To Ensure No Grievance Remains Pending Over 30 Days

In what could come as a good news for taxpayers in the new year, the Income Tax department has asked its officials to resolve their grievances within 30 days time

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LPG Subsidy: I-T To Inform Oil Min On Taxpayers Earning Over Rs 10 Lakh

The Income Tax department will soon begin sharing personal data - like PAN, residential address and mobile number - of a taxpayer earning over Rs 10 lakh per annum with the Oil Ministry as part of government's initiative to effectively block subsidised cooking gas to higher income groups

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Income Tax Department Warns Of Penal Action If Returns Drastically Changed

In a bid to prevent laundering of black money, the tax department on Wednesday warned of penal action against those filing "drastically" revised income tax returns by including bank deposits made post-demonetisation

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3-year, Low Risk Surplus? Look Beyond FD's

The next time you're about to book an FD in haste, take a moment to consider debt funds as a much superior option instead

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Black Money: 300% Rise In Raids, Seizures

In a mammoth jump of over three times in the searches, raids and seizure action in the first seven months of this year as compared to the corresponding period of 2015, the department seized over Rs 330 crore of alleged tainted cash, jewellery and other movable and immovable assets

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