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Deadline for filing Income Tax return extended

Deadline for filing Income Tax return extended. The income tax department has extended the last date for filing tax returns by one month. The deadline for income tax return filing has been pushed to August 31, the Central Board of Direct Taxes (CBDT) said on Thursday. “Upon consideration of the matter, the Central Board of

CBI looks for banking, tax experts to help probe into multi-crore scams

CBI looks for banking, tax experts to help probe into multi-crore scams

NEW DELHI: The Central Bureau of Investigation (CBI), which is probing the over Rs 13,000 crore Punjab National Bank scam as well as other financial frauds, has sought deputation of banking and tax experts from other ministries with an offer of good monetary incentives.According to an official communique sent by the CBI to finance and

GST 1st Anniversary: Industrialists express blues

GST 1st Anniversary: Industrialists express blues

Jalandhar – A year ago, Goods and Services Tax (GST) was initiated by special midnight session of Parliament to rope in complex taxation system of India. Today on July 1, the government is set to celebrate first anniversary of GST, but small and medium industrialists are still longing for rectification of loopholes they are suffering

GST evasion of Rs. 2000rc unearthed in 2 months

GST evasion of Rs. 2000rc unearthed in 2 months

NEW DELHI: The GST investigation wing has detected tax evasion of over Rs 2,000 crore in two months, and data analysis reveals that only 1 per cent of over 1.11 crore registered businesses pay 80 per cent of the taxes, a senior official said on Wednesday. CBIC member John Joseph said alike small businesses who

Income Tax raid at Rana Gurjit’s companies in Chandigarh

Income Tax raid at Rana Gurjit’s companies in Chandigarh. According to sources, Income Tax department carried out raid at Rana Gurjit’s companies in Chandigarh.  Rana Gurjit’s companies are situated at Sector 8 in Chandigarh. Raid carried out by Income Tax department with five officials around 9:30 am. Employees standing outside office as they are not

Taxpayers Finance Minister Arun Jailtely New Delhi Parliament demonetization

Taxpayers base increased after demonetization: Economic Survey New Delhi

The Economic Survey 2017-18 which was presented in Parliament by Finance Minister, Arun Jaitley on Monday said that there was an increase in the number of taxpayers post-demonetization.” Taking seasonality into account it is found that there is a 0.8 per cent monthly trend increase in new tax filers (annual growth of 10 per cent),”

corporate loans

Did not write off any corporate loans: Jaitley

Union Finance Minister Arun Jaitley said on Tuesday that the Narendra Modi-government has not written off any corporate loans and such assumptions were just “misconceptions”. “Let me clarify that neither the government nor the banks wrote off any loans,” Jaitley told the Rajya Sabha in response to a question that the government had reportedly written off

Income Tax raids at Sasikala's kin, associates continues

IT raids at Sasikala’s kin, associates continues

For the second consecutive day on Friday Income Tax (IT) officials continued their massive raids at the premises of close relatives of jailed AIADMK leader V.K. Sasikala, their business associates and organisations connected to them, a senior IT official said.He also said that “sizeable volume of cash and documents” have been seized at the searched

IT dept. will ‘defend its govt.’ as part of job: Congress

IT dept. will ‘defend its govt.’ as part of job: Congress

Income tax will “defend its government” as it is part of their job to do so, reacted the Congress party after the Income Tax Department (ITD) said that there has been 44 percent increase in undisclosed income detection. “Income tax department is interested in conducting a raid rage across with no details available in public

Tax evasion of Rs.1,52,000 Cr in last 3 years

Tax evasion of Rs.1,52,000 Cr in last 3 years

Tax evasion Rs.1,52,000 Cr in last 3 years: The information released by the Finance Ministry discloses tax evasion from April 2014 to June 2017. This amount is so much that the expenses of city Bangalore can be managed for 19 years of the Mumbai Metropolitan for Seven Years.Out of Rs 1,52,000 cr 76, 239.22 cr

33% firms with RoC not in income tax database: CAG

New Delhi, Aug 4 : Government auditor CAG today said that about a third of the firms listed with the Registrar of Companies (RoC) were not in the database of the Income Tax Department.With a view to ascertaining the status of filing of return by corporate assesses, CAG said it compared the data obtained from

ITR Filing deadline 5 August, offices open till midnight

ITR Filing deadline 5 August offices open till midnight New Delhi: Last date for filing of Income Tax Returns was extended from July 31 to August 5 in view of difficulties faced by taxpayers.The income tax department on Friday said its field offices will remain open till Saturday midnight to facilitate very senior citizens and those

Habit of sharing photos on social media can set you in problem

Habit of sharing photos on social media can set you in problem

If you have a habit of sharing photos among friends, then the day is not far off when tax officials will knock on your door. Tax department will look on your posts and pictures which you have been sharing on social media like Instagram and Facebook.Modi government is going to collect information from sources of

Deadline for Aadhaar-Pan linking has now been extended till August 31

Aadhaar Pan linking now extended till August 31.The central government on Monday extended the deadline of linking of Aadhaar with PAN till August 31. The Central Board of Direct Taxes (CBDT) also said that the Income Tax Returns (ITRs) will be processed only after the linking has been completed.In a series of tweets from its

All tax payers should file return in time: CBDT

All tax payers should file return in time: CBDT

There is no plan to move forward on the last date of filing income tax return (ITR). CBDT said that all taxpayers should pay tax on time. There is no idea of ​​any changes in its last date. People have to pay tax return by July 31. It is mentionable here that some Business organizations

NRIs’ overseas bank info needed only for income tax refund

For all the Latest news download Daily Post news app:- Click For Android:- Click For IOS:- It is not mandatory for NRIs to provide details of their overseas bank accounts when they file tax returns and only those who seek refunds need to do so. Sushil Chandra, chairman of the Central Board of Direct Taxes

Fire Lok Nayak Bhawan Delhi: People rescued safely. The building houses offices of many government offices such as those of the Central Bureau of Investigation, Enforcement Directorate and the Income-Tax Department.A huge fire was reported at the Lok Nayak Bhawan in Delhi today and, according to authorities, as many as 26 fire tenders were rushed to the area to douse the flames. The entire edifice was covered in flames and firemen were seen trying to get their equipment into place to stop the flames from spreading. Lok Nayak Bhawan is next to Central Delhi’s iconic Khan Market.The building houses offices of many government offices such as those of the Central Bureau of Investigation, Enforcement Directorate and the Income-Tax Department, as well as other government departments such as Raj Bhasha. The building also has shops on the ground floor. Officials from the fire department have told news wire agency ANI that all the people who were inside the building have been rescued.

Fire at Lok Nayak Bhawan in Delhi: People rescued safely

For all the Latest news download Daily Post news app:- Click For Android Click For IOS Fire Lok Nayak Bhawan Delhi: People rescued safely. The building houses offices of many government offices such as those of the Central Bureau of Investigation, Enforcement Directorate and the Income-Tax Department.A huge fire was reported at the Lok Nayak

Foreign currency Rs 5 lakh IT sleuths documents recovered raids

Foreign currency Rs 5 lakh, IT sleuths documents recovered in raids

Ludhiana: The raids conducted by investigation wing of the income tax department on Tuesday on 12 premises of city based garment firm Webson Industries (located at Bahadurke Road) and real estate developer Ladoo Group (based in Kitchlu Nagar) and its associates continued on Wednesday. Department’s various teams under instructions from Principal Director (Punjab and J&K) Parneet Sachdev continued with the search operations

Government to link Pan Card with GST

Government to link Pan Card with GST

With the introduction fo GST, the government wants to add direct and indirect taxation systems to all the Internet users.For this they are Planning to link GST serial number to the permanent account number (PAN) issued by Income Tax Department.The purpose of this plan is to curb tax-related negligence because after the taxation of income