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The I-T notice encompasses penalty charges along with accrued interest

Income Tax Department issues Rs.1823 crore notice to Congress Party

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The I-T notice to Congress pertains to the assessment years spanning from 2017-18 to 2020-21 The Congress Party once again received another setback on Friday...
The revised regulations also maintain the inclusion of five valuation methods initially proposed in the draft rules for assessing funds received from non-resident sources

Income Tax Department issues new regulations for startup equity valuation

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What are the new income tax rules for startup investments? The Income Tax Department has issued new regulations concerning the valuation of equity and compulsorily...
One thing GOI loves to do - tax its citizens… Have they put enough thought into this or is it the case of killing the goose that lays golden eggs?

Income Tax Department says buyer to deduct TDS on peer-to-peer Cryptocoin kind VDA transactions

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CBDT issues clarification on TDS provision applicable on transfer of VDAs Further tightening the Cryptocoin trading in India, the Income Tax Department on Tuesday said...
In a written reply in the Rajya Sabha, MoS Finance said SEBI, after investigation into the matter involving NSE and other entities, has passed requisite orders

CBI, ED & Income Tax Department investigating irregularities in NSE co-location case: MoS Finance

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Flaws in NSE co-location case being probed by various agencies: Govt With regards to the NSE co-location case, the Minister of State for Finance, Pankaj...
Aaditya Thackeray slammed the IT dept's action terming it as misuse of central probe agencies but vowed Shiv Sena would not be cowed by such tactics

Income Tax Department raids Rahul Kanal, a close aide of Aaditya Thackeray

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Income Tax Dept swoops on the homes, offices of Rahul Kanal close friend of Aaditya Thackeray A team from the Income Tax Department raided close...
I-T official said that particulars of about three dozen immovable properties, worth Rs.130 crore have also been detected

Income Tax Department unearth international hawala racket in Mumbai

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I-T detects illegal properties worth Rs.130 Cr in Mumbai raid The Income Tax (I-T) Department announced that in a recent raid they have unearthed an...
IT Dept seizes unexplained cash amounting to Rs.142.87 cr; unaccounted income unearthed is estimated to be in range of about Rs.550 crore till now

Income Tax Department raids Hyderabad based pharma group, seizes cash over Rs.142 crore

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Income Tax Department detects Rs.550 cr hidden income after raids on Hyderabad based pharma group The Income Tax Department recently carried out 'search and seizure'...
Another case of a spectacular failure by a famous IT company when it comes to running India’s IT site?

Bringing utter shame, Income Tax Department allows manual filing of tax forms for foreign...

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The new IT portal continues to face tech glitches Bringing utter shame, after the non-working of the newly opened Income Tax portal for seven days,...
Editors or brokers? To what depths has journalism sunk to?

Are Editors involved in Transfers & Postings in Income Tax Department?

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For an industry that is supposed to be the eyes and ears of the nation, the Fourth Estate is often found to be doing...
I-T Dept refrains from taking any coercive action against the Congress with reference to the tax demand notices of around Rs.3,500 cr in view of the upcoming Lok Sabha elections 2024

No coercive steps to recover tax demand of over Rs.3500 crores from Congress till...

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Relief for Congress as I-T won't recover dues during polls On Monday, the Income Tax department told the Supreme Court that it won't take any...

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