Tag: income tax department
GST returns, overseas investments, off-market stock deal come under AIS
New Delhi: The Income Tax Department is broadening the scope of financial information required for taxpayers’ annual information statements (AIS), bringing goods and services tax…
Record 7.8 crore ITRs filed for AY26-27 as August 31 deadline ends
New Delhi: A record of more than 7.8 crore Income Tax Returns (ITRs) were filed for Assessment Year (AY) 2026-27 as on August 31, according…
ITR filing deadline: Income Tax Department asks business, professional taxpayers to file returns by August 31
The Income Tax Department has urged taxpayers with business or professional income who are not required to undergo a tax audit to file their Income…
I-T unearths Rs 1.29 lakh cr foreign remittances
NEW DELHI: The income tax department has uncovered a massive overseas remittance trail involving 6,422 newly identified entities that collectively sent Rs 1.29 lakh crore…
Income Tax Department launches nationwide verification of suspicious foreign remittances
New Delhi: The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances after identifying several entities that allegedly remitted large amounts…
FM Sitharaman asks I-T Department to separate genuine errors from wilful tax evasion
Finance minister Nirmala Sitharaman on Friday asked the Income Tax Department to adopt a more taxpayer sensitive approach, urging officials to ensure that honest taxpayers…
Finance minister Nirmala Sitharaman asks I-T officials to ease burden on honest taxpayers
Finance Minister Nirmala Sitharaman on Friday urged Income Tax officials to ensure convenience for honest taxpayers while taking firm action against tax evasion, stressing that…
Over 1.7 cr ITRs filed for AY 2026-27: I-T deptt
New Delhi: Over 1.7 crore I-T returns have been filed for 2025-26 financial year so far, the Income Tax Department said on Saturday. The last…
Foreign tax data to be included in Form 26AS
New Delhi: The Central Board of Direct Taxes (CBDT) has directed that financial account information received from overseas tax authorities be included in taxpayers’ Form…
Paying tax won’t legitimise cash stashes
Builders, sticky-fingered bureaucrats, and unauthorised money changers are about to be blindsided by the taxman. Unbeknown to most, handling cash hordes has just become tougher….