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Income Tax Department It Department

Five Major Changes Taxpayers Should Know While Filing Their Income Tax Return This Year

Five Major Changes Taxpayers Should Know While Filing Their Income Tax Return This Year

There are no major changes seen in the income tax return forms notified for FY 2021-22. However, there are five major changes that taxpayers need to keep in mind while filing their returns this year

22 April 2022
Tax Collections Soar To Record Rs 27.07 Lakh Crore In FY22

Tax Collections Soar To Record Rs 27.07 Lakh Crore In FY22

Gross tax collection of Rs 27.07 lakh crore during April 2021 to March 2022 compares with budget estimate of Rs 22.17 lakh crore

08 April 2022

Hero MotoCorp Falls Over 6% After Income Tax Deartment  Detects Irregularities

The Income Tax Department has found alleged illegal business expenses of over Rs 800 crore, Rs 60 crore "unaccounted" cash used to purchase land in Delhi and...

Today Is The Last Day To File Income Tax Returns For AY2021-22: Here Is How You Can Do It

Today Is The Last Day To File Income Tax Returns For AY2021-22: Here Is How You Can Do It

Not filing an ITR would attract a fine of Rs 5,000. Income tax returns can be filed online as well as offline.

31 March 2022

Pros And Cons Of Tax-Saving FDs

People bet on tax-saving FDs all the time because it’s simple and convenient, and not linked to the market. But it would be wise for you to invest in it,...

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12 March 2022
March 15 Is The Last Date To Pay Advance Tax: Time To Clear Your Liability

March 15 Is The Last Date To Pay Advance Tax: Time To Clear Your Liability

With the advance tax deadline just a few days away, try to pay on time. A delay will mean paying interest of 1 per cent from the due date till the date the tax...


07 March 2022
Co-Location Scam: CBI Produces Ex NSE Head Chitra Ramkrishna Before Delhi Court, Seeks 14 Day Custody

Co-Location Scam: CBI Produces Ex NSE Head Chitra Ramkrishna Before Delhi Court, Seeks 14 Day Custody

CBI has arrested former MD and CEO of National Stock Exchange (NSE) Chitra Ramkrishna in a case related to alleged improper dissemination of information from...


03 March 2022
CBDT Claims Huawei Manipulated Account Books To Reduce Taxable Income In India

CBDT Claims Huawei Manipulated Account Books To Reduce Taxable Income In India

The searches were conducted on February 15 at the main business and residential premises of "key office bearers" of a multi-national group, engaged in the...


03 March 2022
CBDT Claims Huawei Manipulated Account Books To Reduce Taxable Income In India

CBDT Claims Huawei Manipulated Account Books To Reduce Taxable Income In India

The company, during the searches, had said it was 'firmly compliant' with Indian laws


26 February 2022
New tax regime needs to be incentivized for it to pick up: Tarun Bajaj

New tax regime needs to be incentivized for it to pick up: Tarun Bajaj

It is important to simplify tax laws simple and unless exemptions are removed, it would be difficult to do so, says revenue secretary Tarun Bajaj


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24 February 2022
Indian Government Pays Cairn Rs 7,900 Crore To Settle Retro Tax Dispute

Indian Government Pays Cairn Rs 7,900 Crore To Settle Retro Tax Dispute

The company, which is now known as Capricorn Energy PLC, in a statement, said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will...


22 February 2022
Income Tax Department Cautions Against Fraudulent Job Offers

Income Tax Department Cautions Against Fraudulent Job Offers

The apex direct tax body said it has come to its notice that some fraudulent persons are misleading candidates by issuing fake appointment letters for joining...


18 February 2022
Former NSE Chief, Chitra Ramkrishna Gets Interrogated By CBI In Co-location Scam

Former NSE Chief, Chitra Ramkrishna Gets Interrogated By CBI In Co-location Scam

The development comes a day after the Income Tax Department raided her apartment in Mumbai as part of a tax evasion investigation against her and others.


16 February 2022
CBDT Issues Over Rs 1.71 Crore Tax Refunds for FY22

CBDT Issues Over Rs 1.71 Crore Tax Refunds for FY22

Out of the refund amount, Rs 63,234 crore have been issued in almost 1.95 cases, whereas corporate tax refunds amounted to Rs 1,08,322 crore in 2,28,604...


11 February 2022
Income Tax Department To Hold Budget Discussions For Taxpayers Today February 11

Income Tax Department To Hold Budget Discussions For Taxpayers Today February 11

Email from the income tax department says discussion to be on Budget 2022’s impact on taxpayers. To understand your tax choices better, here’s a look at...


09 February 2022
I-T Department Issues Over Rs 1.67 Lakh Crore Refunds Till February 7

I-T Department Issues Over Rs 1.67 Lakh Crore Refunds Till February 7

This includes 1.48 crore refunds of Assessment year 2021-22 (fiscal ending March 2021) amounting to Rs 28,704.38 crore.


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01 February 2022
I-T Department Recovers Rs 3-Crore Cash From Premises Linked To Retd. IPS Officer In Noida

I-T Department Recovers Rs 3-Crore Cash From Premises Linked To Retd. IPS Officer In Noida

The retired Indian Police Service (IPS) officer is from the Uttar Pradesh cadre, the sources said.


10 January 2022
#OutlookMoney | Best Tax-Saving Strategies For You

#OutlookMoney | Best Tax-Saving Strategies For You

Looking to make tax-saving investments? Outlook Money's January issue has tax-saving strategies for the Gen-Z, middle-aged professionals and retired senior...


05 January 2022
I-T Refunds Worth Rs 1.50 Lakh Crore Issued Till January 3

I-T Refunds Worth Rs 1.50 Lakh Crore Issued Till January 3

Income tax refunds of Rs 51,194 crore have been issued in 1.46 crore cases and corporate tax refunds of Rs 99,213 crore have been issued in over 2.19 lakh...


13 December 2021
5 Common Tax Filing Mistakes To Steer Clear Of This ITR Season

5 Common Tax Filing Mistakes To Steer Clear Of This ITR Season

Making a mistake may compel the taxpayer to file revised returns or face an inordinate delay in getting refunds, etc. It is always better to be on your guard...


24 November 2021
CBDT Processed Refunds Worth Rs 1.23 Lakh Crore To 1.11 Crore Taxpayers

CBDT Processed Refunds Worth Rs 1.23 Lakh Crore To 1.11 Crore Taxpayers

In September, the deadline for filing the income tax return was extended to December 31. This was the second instance when the deadline was extended.


10 November 2021
CBDT Processed Refunds Worth Rs 1.16 Lakh Crore To 98.90 Lakh Taxpayers

CBDT Processed Refunds Worth Rs 1.16 Lakh Crore To 98.90 Lakh Taxpayers

Income tax refunds worth Rs 36,000 crore have been issued in approx 97.1 lakh cases and corporate tax refunds worth Rs 79,917 crore have been issued in 1.77...


27 October 2021
Processed Income Tax Refunds Worth Over Rs 1.02 Lakh To More Than 77.92 Lakh Taxpayers: IT Dept

Processed Income Tax Refunds Worth Over Rs 1.02 Lakh To More Than 77.92 Lakh Taxpayers: IT Dept

Additionally, income tax refunds of Rs 27,965 crore have been in approx 76.2 lakh cases. Corporate tax refunds of Rs 74, 987 crores have been issued in about...


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