No need to meet tax officer in case of scrutiny notice; use faceless assessment: I-T Dept

New Delhi There is no need to meet the local Income Tax Department officer in case one receives a scrutiny notice, the tax department said in its latest public message on the new faceless assessment scheme. With the internet-based faceless assessment being used now, the “face of the Income Tax Department is changing”, it said.… Continue reading No need to meet tax officer in case of scrutiny notice; use faceless assessment: I-T Dept

Govt brushes off IRS officers’ proposal for coronavirus tax on super rich

Mumbai: A group of Indian Revenue Service (IRS) officers have recommended taxing the super rich, and foreign companies, to help pay for the coronavirus economic fallout, but the government brushed off the idea, saying it did not reflect official views. Some 50 IRS officers recommended raising the highest tax rate to 40% for people with… Continue reading Govt brushes off IRS officers’ proposal for coronavirus tax on super rich

IRS officers’ report on funding COVID relief work via tax measures ill-conceived: FinMin sources

New Delhi: A report of 50 IRS officers of the I-T department on revenue mobilisation and economic impetus to fight COVID-19 pandemic is ill-conceived, and an act of indiscipline as well as violation of service conduct rules, Finance Ministry sources said. These officers from the Indian Revenue Service (IRS) Association in a report titled ‘FORCE… Continue reading IRS officers’ report on funding COVID relief work via tax measures ill-conceived: FinMin sources

HC quashes show-cause notice to former IPS officer

Chennai: The Madras High Court on Thursday quashed an I-T department”s show-cause notice to former IPS officer K Vijayakumar, demanding capital gain tax on sale of land given to him by the Tamil Nadu government for his role in eliminating sandalwood smuggler Veerappan. Vijayakumar, who led Operation Cocoon against forest brigand Veerappan in 2004 killing… Continue reading HC quashes show-cause notice to former IPS officer

ACP to probe I-T dept’s complaint against Karnataka CM, others

Bengaluru: A day after the I-T department sought legal action against Karnataka Chief Minister H D Kumaraswamy and some of his cabinet colleagues for allegedly obstructing tax officers from discharging duties, an ACP has been assigned to probe the matter based on the complaint, police said Wednesday. Principal Chief Commissioner of Income Tax (Goa-Karnataka region)… Continue reading ACP to probe I-T dept’s complaint against Karnataka CM, others

I-T dept seeks legal action against K’taka CM, Dy CM for intimidating officers

Bengaluru: The Income Tax department has written to the Chief Electoral Officer seeking legal action against Chief Minister H D Kumaraswamy, Deputy Chief Minister G Parameshwara and a host of his cabinet colleagues for allegedly intimidating tax officers and obstructing them from discharging duties, sources said Tuesday. The chief minister, former chief minister Siddaramaiah, and… Continue reading I-T dept seeks legal action against K’taka CM, Dy CM for intimidating officers

I-T Dept deploys surveillance teams in NE states for LS polls

Guwahati: The Income Tax Department has deployed surveillance teams and set up control rooms in seven north eastern states, to deal with any reported movement of unaccounted money ahead of the Lok Sabha elections next month. The Investigation Directorate of the department has gone ahead with the measure in Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram,… Continue reading I-T Dept deploys surveillance teams in NE states for LS polls

Income tax rebate of Rs 12500 to those who earn up to Rs 5 L from April 1: CBDT Chairman

New Delhi:The income tax department will give a “straight rebate” of Rs 12,500 to people having an annual income of Rs 5 lakh from the beginning of next fiscal, thus making their tax liability zero, Sushil Chandra said Friday, explaining the proposal made in the Union Budget for 2019-20. For people earning more than Rs… Continue reading Income tax rebate of Rs 12500 to those who earn up to Rs 5 L from April 1: CBDT Chairman

I-T dept to issue notice for cash transaction above Rs 20,000 in property purchase

New Delh: Be ready to receive the I-T department’s notice if you have made above Rs 20,000 cash transaction in a property purchase in Delhi. I-T Department’s Delhi division is going to start a drive against property purchases where the cash transaction crosses the limit of Rs 20,000. “Income Tax Department’s Delhi division is short-listing… Continue reading I-T dept to issue notice for cash transaction above Rs 20,000 in property purchase

I-T dept grills Karnataka minister Shivakumar in tax evasion

Bengaluru: Senior Karnataka minister D K Shivakumar was Thursday grilled for about three hours by the Income Tax department for alleged tax evasion, officials said. Shivakumar, a frontline Congress leader in the state, was summoned for questioning as part of a “routine process” following searches at various properties linked to him on August 2, department… Continue reading I-T dept grills Karnataka minister Shivakumar in tax evasion