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Latest Articles in cbdt

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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Officers Should Also Give 'Best Advice' To Tax Payers: CBDT

To clean up tax administration, CBDT Chairperson Rani Singh Nair on Tuesday promised that the tax department will try to create a regime where people could fearlessly walk up to officers to seek best possible advice

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Paperless I-T Assessment: CBDT Plans To Take Project To More Taxpayers

Under the project, the first set of e-communications were decided to be mailed to the assessees in DELHI, Mumbai, Bengaluru, Ahmedabad and Chennai region

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I-T Grievance: Taxpayers Can Now File A New 'E-nivaran' Form

The new form, like the e-Income Tax Returns (ITRs) and those created for I-T appeals and others, is the latest offering by the department and will be soon made public

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New Reporting Norms For High Value Transactions From April 1

In order to check black money, the CBDT has notified norms under which cash receipts and high value transactions beyond a certain threshold will have to be reported to the Income Tax authorities with effect from April 1

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