Login  |  Register  |  Forgot Password 
Below Login Ad

News Category : Income Tax

RBI categorises IDBI Bank as private sector lender
Posted Date : 15-Mar-2019 , 08:27:24 am | Posted By CASANSAAR

IDBI Bank has been categorised as a private sector lender following acquisition of majority stake by Life Insurance Corporation, RBI said. In January, LIC completed the process of picking up a controlling 51 per cent stake in the nearly crippled IDBI Bank. "IDBI Bank has been categorised ...

Continue Reading...

Category : Income Tax | Comments : 1 | Hits : 1000

Income Tax Deptt to assess 80k big cash depositors during demonetisation
Posted Date : 07-Mar-2019 , 10:21:42 am | Posted By CASANSAAR

Over 80,000 taxpayers who had deposited significant amounts of cash during the demonetisation period but failed to respond to initial notices sent by the income tax (I-T) department and furnish their tax returns for the financial year 2016-17 will now be subject to a ‘best judgement’ ass...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1144

Link your PAN with bank for refunds - Income Tax Dept
Posted Date : 28-Feb-2019 , 04:57:29 pm | Posted By CASANSAAR

The Income Tax Department will "only" issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication.  The department said refunds will be sent to bank accounts as it...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 188

Income tax dept to issue only e-refunds from Mar 1, 2019
Posted Date : 27-Feb-2019 , 08:15:22 am | Posted By CASANSAAR

Come March 1, 2019 Income tax department will issue only e-refunds and that too these will be credited only to bank accounts linked with PAN.  In addition to that, you are also required to prae-validate your bank account with the income tax department e-filing portal to receive tax refund.&n...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 477

Karnataka businessman jailed for income tax default of Rs 7.35 Cr
Posted Date : 18-Feb-2019 , 08:55:37 am | Posted By CASANSAAR

A Karnataka-based businessman has been jailed for six months for allegedly not filing his income tax arrears and interest of around Rs 7.35 crore despite reminders, an official said on Saturday. "The defaulter was arrested on Friday for failing to pay his tax arrears and produced before the ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 713

Suspicious income tax refund claims under Income Tax Dept scanner
Posted Date : 12-Feb-2019 , 08:05:57 pm | Posted By CASANSAAR

Suspicious income tax refund claims have gone up in last three years and scrutiny assessments have been initiated against taxpayers claiming high refunds inconsistent with the pattern of income and investments, Parliament was informed Tuesday. Minister of State for Finance Shiv Pratap Shukla in a...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 136

Income Tax Dept plans e-allocation, verification and hearing in scrutiny of returns
Posted Date : 12-Feb-2019 , 09:24:04 am | Posted By CASANSAAR

Hoping to cut down harassment of taxpayers during verification and scrutiny of income-tax returns, the Tax Department hopes to introduce features, including team-based assessment, video-conferencing and electronic review of orders, to ensure quality assessments and avoid high pitched tax demands. ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 493

Income Tax Dept unearths Rs 20,000 cr Hawala racket in Delhi
Posted Date : 12-Feb-2019 , 08:44:10 am | Posted By CASANSAAR

The Income Tax Department has busted a nexus of hawala operators who were running a money laundering racket in Delhi estimated to be worth over 20 thousand crore rupees. Official sources said, a series of raids and surveys were conducted by sleuths of the Delhi investigation unit of the I-T Departme...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1473

RBI raises collateral-free farm loan limit to Rs 1.6 lakh
Posted Date : 07-Feb-2019 , 05:42:49 pm | Posted By CASANSAAR

RBI Governor Shaktikanta Das today announced that the limit of collateral free agricultural loans has been increased from one lakh to 1.6 lakh. Addressing the post monetary policy announcement in Mumbai today, Mr. Das said the decision has been taken in view of the overall inflation and rise in the ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 227

Banks liable for unauthorised withdrawals from customer accounts - Kerala HC
Posted Date : 07-Feb-2019 , 10:08:03 am | Posted By CASANSAAR

The Kerala High Court has held that banks cannot be exonerated from liability for loss caused to a customer on account of unauthorised withdrawals made from his/her account, merely on the ground that the customer did not respond promptly to the SMS alert given by the bank. The court observed that...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 725

Linking Aadhaar with PAN card compulsory to file income tax returns - SC
Posted Date : 06-Feb-2019 , 09:17:44 am | Posted By CASANSAAR

The Supreme Court on Monday said that it was essential to link Aadhaar with the PAN card to file income tax returns. The court was hearing the government’s plea against a Delhi High Court order allowing the respondent, Shreya Sen, to file income tax returns for 2018-’19 without linking h...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 623

Income taxpayers to start getting refunds within 24 hours in next 2 years
Posted Date : 06-Feb-2019 , 09:15:23 am | Posted By CASANSAAR

The revenue department will put in place within two years a mechanism to ensure that all returns are processed within 24 hours and refunds issued simultaneously, an official said.  The government has already sanctioned Rs 4,200 crore last month for upgradation of information technology infra...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 138

Highlights Of Interim Budget 2019-20
Posted Date : 01-Feb-2019 , 01:53:22 pm | Posted By CASANSAAR

The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament today are as follows:   New Announcements Farmers 12 crore small and marginal farmers to be provided wit...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 856

Adjudicating Authority revokes benami attachment order against SRK
Posted Date : 30-Jan-2019 , 08:53:25 am | Posted By CASANSAAR

Actor Shah Rukh Khan has been absolved of the charge of being a beneficiary of a benami property in the scenic beach town of Alibaug in Maharashtra as an appellate Authority under the law has "revoked" the attachment order of the I-T Department, calling it baseless and coloured. The Adj...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 281

Income Tax return processing time to reduce from 63 days to just 1 day
Posted Date : 17-Jan-2019 , 09:39:04 am | Posted By CASANSAAR

The Union Cabinet on Wednesday approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return processing time from 63 days to just one day. The new portal is also expected to process the refunds within one day of filing of tax returns, in huge...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1011

Govt eases norms for start-ups seeking exemptions from Angel Tax
Posted Date : 17-Jan-2019 , 09:35:45 am | Posted By CASANSAAR

Facing sustained pressure from start-ups and venture capital funds over the so-called angel tax, the government has relaxed norms for seeking exemptions from the controversial levy. The government, via a notification issued on Wednesday, scrapped the existing mechanism to approve start-ups applying ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 224

Cabinet gives nod to integrated e-filing project for faster ITR processing
Posted Date : 16-Jan-2019 , 09:56:48 pm | Posted By CASANSAAR

The Union Cabinet today approved expenditure sanction of over 4200  crore rupees for Integrated E-filing and Centralized Processing Centre 2.0 Project.  Union Minister Piyush Goyal said, it will help in improving tax payers' awareness and education through continuous engagement.&nbs...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 156

Income Tax exemption limit may go up in interim Budget
Posted Date : 16-Jan-2019 , 09:12:34 am | Posted By CASANSAAR

With middle-class apathy on the rise, Finance Minister Arun Jaitley may double the income tax exemption threshold for the salaried from the present Rs 2.5 lakhs to Rs 5 lakhs while also reinstating tax-free status for medical expenses and transport allowance, providing some relief to the section alr...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1307

MCA to collect KYC details of Companies, CA, CS & CMAs
Posted Date : 07-Jan-2019 , 04:02:13 am | Posted By CASANSAAR

In efforts to weed out unscrupulous elements, the Corporate Affairs Ministry plans to collect KYC details of companies, chartered accountants, cost accountants and company secretaries.  A senior ministry official said the exercise would help in having a "sanitised list" of companie...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1354

Loans to wife written off by Jackie Shroff be treated as business loss - ITAT
Posted Date : 07-Jan-2019 , 09:23:50 am | Posted By CASANSAAR

The Mumbai bench of the Income-Tax Appellate Tribunal (ITAT) has allowed a sum of Rs 11.35 crore advanced by actor Jackie Shroff to his wife Ayesha and her production house to be treated as a business loss. As there was no hope of recovery of these advances, during the financial year 2008-09, the ac...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 455

Income Tax Deptt withdraws circular on transfer of shares for No or Inadequate Consideration
Posted Date : 07-Jan-2019 , 09:18:33 am | Posted By CASANSAAR

The Income Tax Department has withdrawn a four-day old circular relating to transfer of shares for “no or inadequate consideration”, saying the matter is sub-judice. The Central Board of Direct Taxes (CBDT) had on December 31, 2018, issued a circular clarifying applicability of sectio...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 373

Govt to set up panel to look into tax issues faced by startups
Posted Date : 21-Dec-2018 , 11:01:11 am | Posted By CASANSAAR

The government has decided to set up an expert committee to look into all the taxation issues being faced by startups and angel investors, the CBDT said Thursday.  It added that "no coercive action or measures to recover the demands of completed assessment under income tax would be take...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 199

Govt makes NPS withdrawal 100% tax exempt
Posted Date : 11-Dec-2018 , 09:02:35 am | Posted By CASANSAAR

The government has made the National Pension System (NPS) more attractive for investors, with the biggest bonanza going to 18 lakh central government employees. The Centre will contribute 14% of basic salary to their pension corpus, up from 10%. The employee’s contribution will remain at 10%, ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 645

Direct Tax Gross collections for 2018-19 upto November are at Rs 6.75 lakh Cr
Posted Date : 11-Dec-2018 , 08:53:56 am | Posted By CASANSAAR

The provisional figures of Direct Tax collections for 2018-19 up to November this year show that Gross Collections are at 6.75 lakh crore rupees. This is 15.7 percent higher than the Gross Collections for the corresponding period of last year. Finance Ministry said in a release that refunds amoun...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 424

Govt moves to redraft direct tax laws to modernize income tax
Posted Date : 27-Nov-2018 , 08:36:57 am | Posted By CASANSAAR

The Narendra Modi government will take a fresh look at modernizing the Income Tax Act, 1961, after an earlier effort by a six-member task force got derailed. The union government on Monday appointed Akhilesh Ranjan, member (legislation), Central Board of Direct Taxes (CBDT), as the new convener to h...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 612

Sunil Arora to be next chief election commissioner
Posted Date : 27-Nov-2018 , 08:29:31 am | Posted By CASANSAAR

President RN Kovind is said to have cleared the appointment of election commissioner Sunil Arora as the next Chief Election Commissioner. He is slated to take over as CEC on December 2, a day after incumbent Om Prakash Rawat retires. The appointment of Arora, a former 1980 batch IAS officer of Ra...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 318

Task Force for drafting a New Direct Tax Legislation
Posted Date : 27-Nov-2018 , 08:27:52 am | Posted By CASANSAAR

In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Government of India in November, 2017. In partial modification of the earlier order, the Government has appointed Shri Akhilesh R...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 340

Income Tax Returns not filed in 80,000 cases Post-Notes Ban
Posted Date : 15-Nov-2018 , 12:48:47 pm | Posted By CASANSAAR

The Income Tax Department is "chasing" 80,000 cases where people have not filed their returns post-demonetisation, despite the taxman sending them notices to do so, a senior official said on Wednesday. After inaugurating a stall of the Income Tax Department at the India International Trade...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 415

Income Tax department to probe use of fake PAN cards in market trading
Posted Date : 05-Nov-2018 , 10:15:43 pm | Posted By CASANSAAR

The Income Tax Department will apparently seek details of trading worth thousand crores and more on equity exchanges which have been carried out a few years ago using fake Permanent Account Number (PAN) cards. According to a preliminary probe by Multi Commodity Exchange (MCX) between 2012 and 2015, ...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 392

75 lakh new tax filers added to income tax list this fiscal - CBDT
Posted Date : 05-Nov-2018 , 09:01:26 am | Posted By CASANSAAR

About 75 lakh new tax filers have been added to the income tax payers list in the country this fiscal till now, a senior official said. The target for the taxman is to add 1.25 crore fresh tax filers by the end of the 2018-19 financial year that ends in March next year, as per a directive of the Cen...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 358

News By Categories

More Categories

Search News

 
 
 

Fresh Income tax news only on casansaar covering details for  Income tax return,efiling, calculator,refund, income tax slab,forms,rates  etc in india 

www.casansaar.com
...keeps you updated

Home

  |  News

  |  Articles

  |  Discussion

  |  CA Firms

 |  Members

 |  CA Community

 |  Jobs

 |  GST Calculator

 |  Empanelment

 |  Files

 |  Matrimonial

 |  Students zone

 |  Queries

 |  Classified Ads

 |  Events

 |  About us

 |   Top Members

 |  Coaching Centres

  | Testimonials

 | Judiciary

 | Notifications/Circulars

 | Book

 | eDirectory

 | Interview

 | Website

 | Emails

 | Software

 |  Score Board

 |   Press Release  

 |   Blood Bank  

  |   Opinion Poll  

  |   Feedback
 |   Advertise us

 |   Terms & Conditions

 |   Contact us
 |   Blog

  |   Sitemap

  |   Income Tax

  |   Auditing

  |   Bank

  |   Bank branch audit

  |   Banking

  |   Black Money

  |   CA

  |   CA Announcement

  |   TDS

  |   Students Zone

  |   Custom

  |   VAT

  |   Service Tax

  |   Corporate Law

  |   General

  |   Excise

  |   SEBI

  |   Finance

  |   GST

  |   ICAI

  |   FEMA

  |   ICWAI

  |   ICSI

  |   DGFT

  |   RBI

  |   IFRS

  |   CAG

  |   Budget

  |   Merger & Acquisitions

  |   International Business

  |   Shares & Stock

  |   Excel Tips

  |   International Taxation

  |   ITR

  |   Chartered Accountant

  |   Tax Audit

  |   Companies Act

  |   Money Laundering

  |   MCA

  |   Income Tax Refund

  |   NPA

  |   Income tax software

  |   CST

  |   CA Exams

  |   CA Results

  |   CBDT

  |   Accounting Standards

  |   DIN

  |   Judical Announcement

  |   MDP

  |   PAN

  |   Whats App

  |   Secretarial Standards

  |   NGO

  |   CA Convocation

  |   Finance Bill

  |   ICAI Notification

  |   CARO

  |   COMPANIES SECRETARY

  |   Accounts

Follow Us : Twitter Icon Facebook Icon Orkut Icon Linkedin Icon Linkedin Icon

CASANSAAR Updates

Developed By: CASANSAAR Copyright © casansaar

Top Accounting Firms,CA COMMUNITY,CA SANSAAR,Chartered Accountant,Ca Networking Firms,Partner Portal,Ca Assignments,CA,Online Communities For Chartered Accountant,Circle For Ca,CS,CMA and FINANCE,Articles By CA / CS / CMA,accounting news articles,Ca Firms In Delhi,CA ANNOUNCEMENT

accounting jobs,article trainees,best website creator,empanelment,income tax slab, ITR, TDS Chart,budget of india 2014-15,gst,auditing,Income tax,students zone,cpt,community matrimony for ca,Classified Ads,Community Matrimony For Ca,Students Zone,Coaching Classes,Company Secretary,Cost Accountant,Judiciary.