Income Tax News

Enhancement of Monetary limits for filing of appeals by the IT Department

09 August 2019 at 12:14

There is a substantial pendency of appeals of the Income Tax Department before various appellate fora. The CBDT is aware of the importance of litigation management and has been continuously working towards achieving the same.To effectively reduce tax

Posted in Income Tax | 6021 Views

ICSI representation for inclusion of CS in definition of Accountant under IT Act

06 August 2019 at 11:30

ICSI Representation for inclusion of CS in the definition of Accountant under the Income Tax Act, 1961To read in details, find the enclosed file

Posted in Income Tax | 7 comments | 8085 Views

IT Search on a prominent Real Estate Group in Mumbai

05 August 2019 at 11:59

Search on a prominent Real Estate Group in MumbaiThe Income Tax Department conducted Search and Seizure operation on 29.07.2019 on a prominent group involved in Real Estate Development, covering more than 40 premises across Mumbai and Pune. During t

Posted in Income Tax | 4 comments | 6984 Views

E-fling lite : A lighter version of efiling portal launch by IT dept

01 August 2019 at 11:42

Income tax department is launching 'e-Filing Lite', a lighter version of e-Filing portal with a focus on filing of Income Tax Return (ITR) by the taxpayers. The same can be accessed by clicking 'e-Filing Lite' button in home page. The

Posted in Income Tax | 10233 Views

Rs. 2,51,411 crore Tax Revenue received upto June 2019

01 August 2019 at 11:42

Monthly Review of Accounts of Union Government of India upto the month of June 2019 for the Financial Year 2019-20.The Monthly Account of the Union Government of India upto the month of June 2019 has been consolidated and reports published.The highli

Posted in Income Tax | 7047 Views

Extension of time to 16th Aug to the Task Force for drafting a New Direct Tax Legislation

01 August 2019 at 11:42

A Task Force was constituted by the Government in November, 2017 to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic need s of the country. It was required to submit its report by 31st of July, 20

Posted in Income Tax | 2316 Views

Foreign Assets worth Rs. 200 crore found in IT search

29 July 2019 at 11:26

Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh).The group, controlled by persons who have significant political presence in a neighbouring State for d

Posted in Income Tax | 8757 Views

FM asks Tax officers to deal firmly with Tax evaders

25 July 2019 at 11:44

Finance Minister exhorted Income Tax officers to be prompt in redressing the grievances of the tax payersFinance Minister asks Tax officers to deal firmly with Tax evaders Income Tax Department celebrates Aaykar Diwas 2019The Union Minister of Financ

Posted in Income Tax | 6831 Views

3 people arrested in Gurugram for fraudulent ITC claim of Rs. 5.7 crores

25 July 2019 at 11:44

CGST Commissionerate, Gurugram arrest Three persons for committing offences under CGST Act CGST Commissionerate, Gurugram, Haryana has arrested three persons namely, Sh. Sh. Anil Kumar, S/o Sh. Balwan Singh, R/o VPO Jevra, Tehsil Barwala, Dist.- Hisa

Posted in Income Tax | 2499 Views