It Department: Latest News and Updates, Top Stories, Videos, Photos About It Department

PAN Card: Correct This Error In PAN Card Or Pay Rs 10,000 Fine

PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card. PAN allows the department to identify/ link all transactions of the PAN holder with the department. These ...

Hero MotoCorp Claims Rs. 1000 Crore False Expenses, IT Department Reveals: Report

The IT Department (Income Tax Department) recently revealed that Hero MotoCorp has claimed above Rs. 1000 crore false expenses, as per news reported by news agency ANI. Additionally, the report mentioned that Hero MotoCorp has also made more than Rs. 100 ...

I-T Department Raids Premises of Former NSE MD Chitra Ramkrishna, Operating Officer Subramanian

The Income Tax Department on Thursday raided the premises of former NSE MD and CEO Chitra Ramkrishna and group operating officer Anand Subramanian in Mumbai as part of a tax evasion investigation against them, official sources said. The searches are aimed ...

I-T Department Notifies FY21 "Safe Harbour" Rates For Cos

The tax department has notified the 'safe harbour' rates for 2020-21 for calculation of transfer pricing by foreign companies in India. Generally, safe harbour is defined as circumstances in which the tax authority shall accept the transfer price declared by the ...

Income Tax Department Conducts Searches in Mumbai And Other Regions

The Income Tax Department conducted a search and seizure operation at various premises of a prominent actor in Mumbai and also a Lucknow based group of industries engaged in infrastructure development. Total 28 premises spread over Mumbai, Lucknow, Kanpur, Jaipur, Delhi, ...

I-T Department Issues 3 Mail IDs For Registering Grievances Under Faceless Assessment Scheme

The Income Tax (I-T) department on Saturday notified three official email IDs for taxpayers to register grievances under the faceless or e-assessment scheme. The department issued a message on its official Twitter handle saying: "In a move aimed to further improve ...

19 Top IRS Officers Deputed In IT Department See Reshuffling

Over a dozen top-ranking IRS officers have been given new postings and transfer orders to head the country-wide income tax department assessment ranges and specialised wings, an official communication said. The order was issued by the Central Board of Direct Taxes ...

Post Demonetization 10,000 Depositors Get Notices From IT Department

The Demonetization act which brought it an economic shock to the country way back in November 2016 is all set to bring in more trouble to people who tried to evade tax using various ways. The revenue department has already ...

Nine Lakh Accounts Under Operation Clean Money 'Doubtful'

Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March ...

IT Department Begins Actions Under Benami Act, Issues 87 Notices

Initiating a stringent action against black money holders post notes ban, the Income Tax department said it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under the newly enforced Benami Transactions Act which attracts a ...

IT Department Detects Undisclosed Income Of Over Rs 5300 Crore

The Income Tax department has detected undisclosed income of over Rs 5,343 crore and seized Rs 114 crore of new notes which were allegedly procured illegally in its nationwide operation against black money hoarders post demonetization. Official sources said the taxman, ...

Do Not Furnish Personal Details Over E-mail, Phone: I-T Department

The Income tax department on Tuesday requested taxpayers to not respond to any email or any type of communication sent to them requesting them to furnish their personal particulars. Phishing Attack: 5 Smart Things To Know While Banking Personal ...

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