central board of direct taxes

The government will examine the Supreme Court decision that the Benami property amendment law cannot be applied prospectively, chairman of the Central Board of Direct Taxes (CBDT) Nitin Gupta said. The income tax collections are robust,…

The income tax department has detected unaccounted transactions of more than Rs 300 crore after it raided a Gujarat-based business group engaged in manufacturing of ceramic tiles early this month, the CBDT said Tuesday. The searches were…

Maker of Dolo 650, Micro Labs, has termed the allegations of Rs 1,000 crore worth of freebies to doctors as baseless. The pharma company said in a statement that in some of the recent media reports it has been falsely and maliciously…

NEW DELHI: From setting up review panels to giving assesses time to respond to show cause notices and establishing a parallel verification system, the income tax department has worked out fresh checks and balances in its faceless…

A taxpayer who did not file income tax return in the past or missed to report correct income can now rectify the same by filing updated returns (ITR-U) by paying additional charge for the assessment years (AY) 2020-21 and 2021-22. The…

The income tax department has detected "unaccounted" income of more than Rs 150 crore after it recently raided a business group based in Jhansi, Uttar Pradesh, that is engaged in undertaking civil contracts and real estate development,…

The Central Board of Direct Taxes has issued a detailed standard operating procedure (SOP) for officials for dealing with the faceless scheme, in a move aimed at reducing litigation and confusion about the scheme. The board has mandated…

The Comptroller & Auditor General of India has asked the Central Board of Direct Taxes to consider specifying a time limit for remittance of export proceeds by special economic zone (SEZ) units for claiming deduction under Section…

NEW DELHI: More than 4.52 crore returns have been filed till July 29, the Income tax department said on Saturday, a day before the ITRfiling deadline for the financial year 2021-22 ends. The department issued a public message through…

Finance minister Nirmala Sitharaman on Sunday said that the trust-based taxation system introduced by the government has resulted in improved collections and increase in the number of return filings. In her message on the 163rd Income…