Tag: income tax department
Refunds delay: CBDT Chairman says I-T dept analysing wrongful claims; payouts likely by Dec
New Delhi: CBDT Chairman Ravi Agrawal on Monday said the tax department is undertaking an analysis of wrongful deductions claimed in certain cases, leading to…
Belgium to share past financial data with India under revised tax treaty
Mumbai: Belgium, a hub of several Indian diamond merchants and the residence of the fugitive Mehul Choksi, will share all ‘old’ information with India on…
Direct tax collection Increases 6.3% to ₹11.9 lakh cr in FY26 so far
India’s net direct tax collections grew 6.33% year-on-year to ₹11.89 lakh crore in the April 1-October 12 period, showed data released by the Central Board…
Office of CAG signs MoU with CBDT to enhance operational effectiveness
The Office of the Comptroller and Auditor General of India and the Central Board of Direct Taxes (CBDT) have entered into a Memorandum of Understanding…
Income-Tax Department detects ₹700 crore in fraudulent exemption claims
New Delhi: The Income-Tax Department has detected a large number of fraudulent exemption claims by taxpayers and has incorporated additional risk assessment in processing of…
ITR filing due date extended: What is the new deadline? Why was it pushed back?
People who have not yet filed their income tax return yet for assessment year 2025-26 can still do so without paying any fine as the…
Presumptive Rules: Tax heat on content creators, consultants
Mumbai: Many social media content creators, script writers, ad professionals, and consultants could find themselves in a bind while dealing with the tax office. Some…
ITR filing last date NOT extended: Income Tax Department debunks fake news
The Income Tax Department on Sunday dismissed claims about extending the deadline for filing Income Tax Returns beyond September 15. Addressing the fake news being…
Is that exempt income actually so? Asks taxman, spooks many
Mumbai: Several senior professionals, equity partners of at least two Big4 firms, members of well-known partnership ventures as well as some of the retired senior…