Income Tax department levies Rs 564 crore penalty on Bank of India
“Accordingly, the bank expects the entire demand to subside. As such, there is no impact on financial, operations or other …
Income Tax department
I-T dept expands scope for officers filing appeals, includes TDS disputes
The CBDT circular also clarified that an appeal should not be filed merely because the tax effect in a case …
LIC receives ₹21,740 crore in income tax refund; ₹3,700 crore refund awaited
Life Insurance of India (LIC) declared that it has received ₹21,740 crore in refund from the Income Tax Department, reported …
LIC gets GST notice of Rs 806 crore; insurer says will file an appeal
Illustration: Ajay Mohanty State-backed insurer Life Insurance Corporation of India (LIC) has received a goods and services tax (GST) notice …
11.5 cr PAN cards deactivated for not linking with Aadhaar: How to reactivate
A Right to Information (RTI) response from the Central Board of Direct Taxes (CBDT) has revealed that a total of …
ITR filing by individuals grows 90% in 8 years to 63.7 mn in AY 2021-22
The income tax department on Thursday said I-T returns filed by individual taxpayers have risen 90 per cent in 8 …
I-T dept conducts raids in offices of several builders in NCR, Haryana
Income Tax department on Friday launched raids in offices and other premises of several builders in Gurugram and other cities, …
IT dept responds to Ashneer Grover’s questions over notices to startups
The Income Tax department on Friday responded to former BharatPe CEO Ashneer Grover’s questions over notices being issued to startups …
ITAT nixes additional tax demand on firm for deposits during demonetisation
An Income Tax tribunal has rejected the demand of the authorities to impose tax on cash deposits made by a …
Employees likely to save more! Govt revises valuation of rent-free housing by employer
Employees drawing substantial salaries and having rent-free accommodation provided by their employers will now be able to save more and …
