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I T Dept News

I-T Department Spends 57 Paise For Every Rs 100 Of Tax Collection: Official

Income-tax collection cost that the I-T Department incurs in the country is one of the lowest in the world at Rs 0.57 for every Rs 100 collected as tax, Shishir Agarwal, Chief Commissioner of Income Tax, Hyderabad, said on Thursday. He ...

I-T Dept Allows Taxpayers More Time, To Claim Credit For Taxes Paid Outside India

The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline. So far, Foreign Tax Credit (FTC) could have ...

I-T Dept Alleges Business, Tax Irregularities Against, Dolo-650 Maker

The CBDT on Wednesday accused the makers of the widely-known Dolo-650 medicine tablet of indulging in "unethical practices" and distributing freebies of about Rs 1,000 crore to doctors and medical professionals in exchange for promoting products made by the pharmaceutical group. ...