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CBDT discovers discrepancies in income of certain politicians

The Central Board of Direct Taxes (CBDT) told the Supreme Court on September 11 that a prima facie verification of election affidavits by the...

Catch 89 for IRS (IT) officers: 1988 & 89 batches skeptical...

The 1988 & 1989 batch IRS (IT) officers have been facing these days a peculiar situation which many describe as a ‘Catch 89’ situation. Even...

Tragedy of IT Dept – Only 02 PCCITs against 26 sanctioned...

The Income Tax Dept is suffering from a shortage of senior functionaries.  Against the sanctioned posts of 26 Principal Chief Commissioner (PCCIT post in...

12 IRS (IT) officers (1982 batch) may soon get Apex Scale

12 IRS (IT) officers from the 1982 batch may soon be empanelled for the post of Principal Chief Commissioner (IT) - the Apex Scale...

IT department launches new tax module

To make the process of tax filing simpler and easier, the Income Tax Dept (CBDT) on 10 July launched the Tax Payer Services Module...

ACC set to clear the appointment of 11 Principal CCITs

Indianmandarins has reliably learnt that the Appointment Committee of the Cabinet is all set to clear the appointment of 1981 batch IRS (IT) officers...

C&AG slams Income Tax Department

A report by the Comptroller and Auditor General (C&AG) on direct taxes, tabled in Parliament last week, has taken the I-T department to task...

Forensic experts roped in to track money laundering

The income-tax department is said to have engaged the services of forensic experts from three of the Big Four accounting firms to investigate suspected...

IT Dept.’s warning on New Income Disclosure Scheme

The Income Tax Department has strongly advised that each and every person having black money generated from legal activities to avail the last opportunity...

Electoral trusts barred from receiving funds from PSUs, foreign sources

  The income tax department has barred PSUs and foreign sources such as trusts and foundations from contributing money to electoral trusts that are formed...

IT notice and AG’s anger: Computers are not so innocent

  Income Tax rules make exceptions but its departmental computers don’t know how to be biased or unbiased. Goolam Vahanvati used to come under IT scrutiny...

Tax collections rise to Rs 5.25 lakh crore between April-Aug 2016

  The Centre’s tax receipts rose to Rs 5.25 lakh crore by end-August 2016. The data released by the Finance Ministry on Monday revealed that...

IT department to act on high value non-PAN transactions

The Income Tax Department has decided to act on certain high-value non-PAN transactions that were reported to it under the annual information returns. Letters...

IT department tracking advance tax payments

The Income Tax Department has been strategizing to track tax payments by companies as well as review sectoral growth trends and quarterly balance sheets...

IT department goes for technology to fulfill its mandate

The Income Tax Department on Tuesday signed a contract with L & T Infotech Ltd for implementation of Project Insight.  The Project will be...

No leave for three months, CBDT officials on high alert (Updated-...

The CBDT has ordered regulation of leave of all Income Tax department officials over the next three months. It has issued a special order...

List of registered asset valuers put on IT Department website

The Income Tax department on Friday published a country-wide list of registered asset valuers for those who wish to declare their untaxed funds and...

No special move against wilful defaulters, says IT Dept (Updated: 09:43...

Meenakshi J Goswami,Commissioner of Income Tax (Media and Technical Policy) and official Spokesperson, CBDT, on Tuesday, clarified that the Income Tax Department has not...

Bank unions, IBA favour disclosing names of defaulters

Bank unions and the Indian Banks’ Association (IBA) are in favour of disclosing the list of wilful defaulters so as to name and shame...