Income Tax News

4.21 crore income tax returns Efiled this year

20 March 2017 at 10:07

Number of e-filed Income Tax Returns in Financial Year 2016-17 (till 28.02.2017) was 4.21 Cr: The total amount of refund issued in the current fiscal (including refund arising out of rectification, appeal effect etc.) is Rs. 1,48,459 crore (till 28.0

Posted in Income Tax | 4233 Views

Direct and indirect tax Collections shows a growth of 10.07% and 22.2% respectively upto Feb 2017

11 March 2017 at 12:05

Net Indirect Tax collection upto February 2017 stood at Rs 7.72 lakh crore, 22.2% more than the corresponding period last year Net Direct Tax collectionsupto February 2017 stood at Rs. 6.17 lakh crore, 10.7% more than the corresponding period last y

Posted in Income Tax | 1953 Views

17.92 Lakh persons tax profiles does not match with cash deposits

11 March 2017 at 12:05

Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period Income Tax Department (ITD) has initiated “Operation Clean Money

Posted in Income Tax | 5022 Views

CBDT signs 10 more Advance Pricing Agreements

01 March 2017 at 11:31

Central Board of Direct Taxes (CBDT) signs ten (10) more Advance Pricing Agreements (APAs) pertaining to various sectors of the economy like Telecom, Pharmaceutical, Banking & Finance, Steel, Retail and Information Technology etc.; With this, the

Posted in Income Tax | 3147 Views

POEM guidelines not applicable for company with less than 50 cr turnover

24 February 2017 at 12:23

F. No. 142/11/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Circular No 08 of 2017 Dated 231d February, 2017 Subject: Clarification for determination of Place of Effective Management (POEM) of a

Posted in Income Tax | 5358 Views

New TDS RPU and FUV utility released

23 February 2017 at 11:32

New versions of e-TDS/TCS Return Preparation Utility (RPU) and File Validation Utilities (FVUs) are applicable from February 23, 2017 onwards and available at https://www.tin-nsdl.com/etds-etcs/eTDS-download-regular.php.1. RPU Version 1.9 (Java based

Posted in Income Tax | 2 comments | 7599 Views

5.27 lakh taxpayers submit their online response to cash deposit notice

14 February 2017 at 10:45

Operation Clean Money by IT Dept gets overwhelming response. More than 5.27 lakh taxpayers submitted their response till 12th February, 2017. Last date for the submission of online response extended up to 15th February, 2017. The Income Tax Departmen

Posted in Income Tax | 16452 Views

Expeditious issue of refunds is high priority says CBDT

14 February 2017 at 10:45

Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes (CBDT); Over 4.19 crore Income Tax Returns (ITRs) processed and over 1.62 crore refunds issued during the Current Financial Year up to 10th February, 2017. The Cent

Posted in Income Tax | 2 comments | 3072 Views

Tax collection shows healthy growth upto Jan 2017

11 February 2017 at 11:20

Tax Collection Figures up to January 2017 show consistent trend of healthy growth; During January 2017, the Net Indirect Tax grew at the rate of 16.9% compared to corresponding month last year with growth rate in net collections for Customs, Central

Posted in Income Tax | 2727 Views

Four Advance Pricing Agreements signed by CBDT

09 February 2017 at 11:09

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 7thFebruary, 2017.Another Four Advance Pricing Agreements signed by CBDTThe Central Board of Direct Taxes (CBDT) has entered into four more unilateral

Posted in Income Tax | 1 comments | 2724 Views