CBDT

Income Tax raids find major tax evasion by Gujarat diamantaire, says CBDT

Income Tax raids find major tax evasion by Gujarat diamantaire, says CBDT

Search and seizure operations revealed unaccounted transactions, indicating huge tax evasion Surat: The Income Tax department has found unaccounted cash and diamonds at the premises of a diamond manufacturer and exporter in Gujarat, as per a statement by the Central Board of Direct Taxes (CBDT). The operation which began on September 22 covered 23 premises...

CBDT appoints Amit Jain as I-T chief of Gujarat

The Central Board of Direct Taxes (CBDT) on Friday appointed Amit Jain as the Principal Chief Commissioner of Income Tax, Gujarat. Jain will replace Pritam Singh who has been appointed as Principal Chief Commissioner of Income Tax, Uttar Pradesh (East). Interestingly, Amit Jain was Director General of Income Tax of Gujarat till June when he...

Inquiry against I-T officials for suggesting higher taxes on super-rich to fund India’s COVID-19 battle

The Central Board of Direct Taxes (CBDT) on Sunday said an inquiry is being initiated against 50 IRS officers of the I-T department who have penned an unsolicited report on revenue mobilisation to fund COVID-19 relief measures and made it public without permission. In a statement, CBDT, which is the apex policy-making body for direct...

I-T dept issues refunds of Rs 4,250 cr in a week

The Central Board of Direct Taxes (CBDT) on Wednesday said that it has issued income tax refunds to over 10.2 lakh people totalling to around Rs 4,250 crore. Earlier on April 8, the government had announced that the pending income tax refunds up to Rs 5 lakh will be cleared with an immediate effect to...