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68 lakh I-T returns filed till 11 pm on last day

68 lakh I-T returns filed till 11 pm on last day

New Delhi: The last-minute rush to meet the deadline for filing income tax returns ((I-T returns) was apparent on Sunday, with nearly 68 lakh returns filed till 11 am. July 31 was the last day for filing returns for those whose accounts do not have to get audited. “Statistics of Income Tax Returns filed today....

Union Budget 2022: No change in I-T slabs

New Delhi: In a major disappointment to those hoping for some relief in taxes, the Union Budget 2022-23 has kept the income tax slabs and rates remain unchanged. Finance Minister Nirmala Sitharaman presented her fourth Union Budget on Tuesday. Talking about taxes, she announced that any errors in declaring income can be rectified and updated...

After facing flak, Infosys shares progress made in resolving glitches in income tax e-filing portal

After facing flak for the glitches in the income tax (I-T) e-filing portal, information technology major Infosys on Thursday shared updates on the progress it has made so far in resolving the issues. The company claimed that the grievances of taxpayers are being “progressively” resolved and there is a steady surge in the number of...

Sonu Sood met AAP workers in Ahmedabad?

Ahmedabad: Bollywood actor Sonu Sood, who has landed in controversy in a case of alleged tax evasion to the tune of Rs 20 crore, was reportedly in Ahmedabad on Wednesday. According to reports, he held closed-door meetings with AAP leaders in Ahmedabad. A few industrialists and businessmen, too, were believed to be present for the...

Ravindra Kumar, man behind Bihar’s fodder scam probe, is new Principal Chief Commissioner of Gujarat I-T

Ahmedabad: The man who busted the infamous fodder scam of Bihar, which led to ouster of then Chief Minister Lalu Yadav, has set foot in Gujarat. Meet Ravindra Kumar, the new principal chief commissioner of Income Tax in Gujarat. Kumar, a 1986 batch officer, came to Ahmedabad following a major reshuffling exercise in the Indian...

Income tax dept to launch new portal for e-filing of tax from June 7, here are the things you need to know

The Income Tax Department will soon launch a new e-filing portal www.incometax.gov.in on June 7, 2021, to provide a convenient, modern experience for taxpayers to file their returns. As a result of the launch and migration to the new portal the existing portal www.incometaxindiaefiling.gov.in will not be available to taxpayers as well as other external...

Taapsee Pannu, Anurag Kashyap face I-T raid

The Income Tax (I-T) department on Wednesday carried out searches at properties owned by filmmaker Anurag Kashyap and actor Taapsee Pannu in Maharashtra for alleged tax evasion. The duo has been vocal against the policies of the Union government. Notably, the I-T department carried out searches at around 20 locations in Mumbai and Pune. It...

Income tax officer infected with COVID-19 commits suicide ahead of jail term

An income tax officer, who tested positive for COVID-19 and was admitted to the Rajasthan University of Health Services (RUHS) hospital, committed suicide by hanging himself to death. His body was found by the security guard in a ward on the sixth floor of the hospital early morning on Monday. Vinay Kumar Mangla, 45, was...

I-T officials record statement of Robert Vadra in benami properties case

Tax sleuths on Monday arrived at the Delhi’s Sukhdev Vihar office of Robert Vadra for recording his statement in connection with the probe launched against him under the benami assets law. Notably, Robert Vadra, a businessman, is the son-in-law of Congress chief Sonia Gandhi. Notably, Income Tax (I-T) department officials had asked Vadra to join...

Revenue department uncovers Rs 8,200 cr tax evasion scam, stock brokers involved

The Revenue Department has initiated a probe against several individuals and entities in connection with long-term capital gains tax evasion by indulging in a reversal of options trade on the Bombay Stock Exchange (BSE) in illiquid options. The probable tax evasion scam is to the tune of Rs 8,200 crore, a report published by a...

I-T dept moves towards transparency with ‘faceless assessment system’

In a giant leap towards a transparent tax administration, the income tax (I-T) department has introduced the ‘faceless assessment system’.  The new system aims to eliminate the physical interface between the taxpayer and tax officers. The faceless e-assessment scheme was initially notified on September 12, 2019. A pilot project was inaugurated on October 7 last...

I-T department observes grievance redressal fortnight from June 1-15

In a bid to expedite the resolution of grievances of taxpayers, a grievance redressal fortnight is being observed from June 1 to June 15 across all offices of the Income Tax (I-T) department in Gujarat. The department has 37 offices across the state and aims to expedite the redressal of public grievances regarding the disposal...