Photo: Income Tax Website
CBDT Issues Income Tax Refund To 1.19 Crore Tax Payers In 2021
The Central Board of Direct Taxes (CBDT) issued refund of Rs 1,32,381 crores to more than 1.19 crore payers. The refund amount is divided into Rs 44,207 crore issued in 1,17,32,079 cases and corporate tax refund of Rs 88,174 crore in 1,99,481 cases. The total amount also include 83.88 lakh return of Annual Year (AY) 2021-2022 amounting to Rs 17.266.48 crore. The return was confirmed by IT Department through Twitter.
Tags: Income Tax, CBDT, Government of India, Tax Payers, India
Courtesy: ANI
Photo: Republic World
Time Will Tell My Story Over Alleged Charges: Actor Sonu Sood
In the latest development in the tax evasion case, actor-philanthropist Sonu Sood has issued a statement defending himself against the raid by the Income Tax department on September 20. Sood titled the statement, ''You don't always have to tell your side of the story. Time will''. Furthermore, he said, ''Every rupee in my foundation… read-more
Tags: Actor Sonu Sood, Income Tax, Tax Evasion, statement
Courtesy: The Free Press Journal
Photo: Asianet Newsable
Sonu Sood Accused Of Evading Over Rs. 20 Crore: IT Department
Bollywood actor Sonu Sood, known for helping thousands of migrants during COVID-19 pandemic, has been accused of evading over Rs 20 crore taxes by the Central Board of Direct Taxes (CBDT) on September 18. Reportedly, the income tax department initiated action against Sood to investigate his sources of income on September 15. The CBDT found that the actor showed ''his unaccounted income in the form of bogus unsecured loans".
Tags: Actor Sonu Sood, Mumbai, CBDT, Income Tax, Tax Evasion
Courtesy: Mint
Photo: The Free Press Journal
Dainik Bhaskar Evaded Tax Rs 700 crore In 6 Yrs, Says Income Tax
Following the raids at the different offices of the Dainik Bhaskar media group, the Income Tax Department alleged on July 24 that the group refused to pay tax worth Rs 700 crore in six-year so far. The department said the group used the employees' Id proofs to operate fake companies and ''for booking bogus expenses''. However, the group retaliated saying ''the government was scared of'' its critical journalism.
Tags: Dainik Bhaskar, Raid, Income Tax, Fraud, Journalism
Courtesy: Scroll.in
Photo: The Financial Express
Govt Allows Payment Of Hospital Bills Over Rs 2L In Cash
The Income Tax Department has allowed hospital bills of over Rs 2 lakh to be paid in cash, provided that Aadhar card or PAN has been produced. "Provisions of Section 269ST of IT-Act have been relaxed to allow cash payments of more than Rs two lakh to hospitals for COVID treatment,” tweeted the IT department. It further discarded the claims of appointing officials to keep a check on bill payments.
Tags: Income Tax Department, Covid-19, cash payments, Income Tax, hospital bills
Courtesy: DNA
Photo: DNA India
Govt Defers Timelines For Filing Various Tax Compliances, ITR Till May 31
The Central Board of Direct taxes has extended the timelines for various tax compliances and for filing Income Tax Returns for the 2019-20 fiscal till May 31. Citing the burgeoning COVID-19 situation, the timelines for filing belated returns, ITR, objections to dispute resolution panel and appeals to commissioners were deferred. While the extension decision came after requests by tax consultants and stakeholders, experts suggest further… read-more
Tags: Income Tax, Financial condition, Covid-19, FISCAL YEAR, Income Tax Department
Courtesy: Times of India
Photo: 91Mobiles
Centre Extends Deadline To Link PAN, Aadhar Till June 30
Considering the difficulties faced by taxpayers during the pandemic, the Union government has extended the deadline to link PAN with biometric Aadhar till June 30. Reportedly, many taxpayers urged the Income Tax Department to extend the deadline amid COVID-19. Earlier in June 2020, the Centre had extended the deadline till March 31. While urging taxpayers to furnish PAN card during ITR filing, the centre as of June 29, 2020, allotted 50.95… read-more
Tags: Aadhar Card, India, Central Government, Income Tax
Courtesy: The Wire
Photo: Realty Plus Magazine
IT Deptt Raids TN Jeweller; Uncovers Rs 1000 Cr Undisclosed Income
Ahead of the assembly polls, the IT department on March 4 seized undisclosed income worth Rs 1,000 crore from the premise of a reputed Tamil Nadu jewellery retailer. Reportedly, various fictitious and fake credits, including unexplained cash deposits were also uncovered during the search operation. Besides launching search operation at 27 premises including outlets in Chennai, Madurai, Trichy, Mumbai, Jaipur, and Indore, the department seized… read-more
Tags: Tamil Nadu Elections, TN Assembly Polls, JEWELLERY, Income Tax, IT raid
Courtesy: Hindustan Times
Photo: The Times Of India
IT Dept Reveals Rs 220 Cr Unaccounted Money Of Chennai's Tile Maker
The Income Tax Department has raided the premises of a reputed Chennai-based tile manufacturer recovering undisclosed income worth Rs 220 crore. In the search and seizure drive launched in Tamil Nadu, Gujarat, and Kolkata based facilities, the IT department seized Rs 8.30 crore. While over 50% of unaccounted money was found to be stored in a cloud storage system, the CBDT suspected its use in influencing voters in the upcoming polls.
Tags: Tamil Nadu, Tile Maker, Chennai, Income Tax, CBDT
Courtesy: India .com
Photo: The Financial Express
15 Locations Of Zee Entertainment Raided By IT Over Tax Evasion
In a tax evasion case, the Income Tax Department officials have raided nearly 15 locations of Zee Entertainment across Delhi and Mumbai on January 4. Reportedly, the Income Tax officials have revealed that the searches are done based on tax evasion data provided by Directorate General of GST Intelligence. Moreover, a spokesperson of Zee Entertainment said that the company is cooperating and sufficing with all requirements to the IT… read-more
Tags: Raids, Income Tax, ZEE ENTERTAINMENT, Zee
Courtesy: The Indian Express
