Page 12 - Latest Updates on Income tax
Ten Sports sale to Sony: I-T dept to appeal ITAT's capital gains tax ruling
The Income Tax Appellate Tribunal (ITAT) had claimed that the IT's contribution to play-out facilities was an afterthought
 "Ten Sports sale to Sony: I-T dept to appeal ITAT's capital gains tax ruling")
BBC communicates to I-T Dept on unpaid taxes, probe still underway
The Central Board of Direct Taxes (CBDT), the administrative authority of the tax department, said they do not comment on individual cases
 "BBC communicates to I-T Dept on unpaid taxes, probe still underway")
When and how can I claim a TCS refund on foreign remittance?
TCS credit is available to be adjusted against actual tax liability to be payable at the end of the year. In case of no such tax liability, one can claim a refund at the end of the year.
 "When and how can I claim a TCS refund on foreign remittance?")
28K J&K govt employees under I-T dept scanner for claiming bogus refunds
More than 28,000 govt employees working in Jammu and Kashmir, including 8,000 police and paramilitary force personnel, are under the scanner of the Income-tax department
 "28K J&K govt employees under I-T dept scanner for claiming bogus refunds")
Explained: How you can minimise the impact of 20% TCS on foreign trips
Avoid booking travel packages and use a debit or credit card during your personal international trip
 "Explained: How you can minimise the impact of 20% TCS on foreign trips")
Switched jobs in 2022-23? Consolidate multiple Form 16s accurately
If you find any discrepancy in the Form 16 received from employer, request the latter to amend it
 "Switched jobs in 2022-23? Consolidate multiple Form 16s accurately")
Delhi HC dismisses Gandhis' pleas against income tax assessment transfer
Delhi HC dismissed petitions by Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra against Income Tax department's decision to transfer their assessments to the Central Circle
 "Delhi HC dismisses Gandhis' pleas against income tax assessment transfer")
I-T searches underway at premises linked to TN Minister Senthil Balaji
Income Tax authorities launched coordinated searches across different locations in Tamil Nadu linked to state Electricity Minister V Senthil Balaji, police sources said
 "I-T searches underway at premises linked to TN Minister Senthil Balaji")
I-T dept enables filing of income tax returns 1, 4 at e-filing portal
The Income Tax department has enabled online filing of income tax returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal
 "I-T dept enables filing of income tax returns 1, 4 at e-filing portal")
RBI may cancel licence of asset reconstruction companies after I-T report
The move follows a special audit conducted by the banking regulator after the income tax (I-T) department raided the premises of these ARCs in 2021
 "RBI may cancel licence of asset reconstruction companies after I-T report")
Link PAN-Aadhaar to avoid restrictions on NPS A/C: Step-by-step guide here
PAN-Aadhaar link: The deadline to link PAN and Aadhaar cards was extended to June 30 on March 28. The earlier deadline was March 31
 "Link PAN-Aadhaar to avoid restrictions on NPS A/C: Step-by-step guide here")
Income Tax officials search Mankind Pharma's New Delhi office: Report
India's Income Tax Department is conducting searches at Mankind Pharma Ltd's office in New Delhi, a government source told Reuters on Thursday, days after the condom maker's successful public listing
 "Income Tax officials search Mankind Pharma's New Delhi office: Report")
I-T raids unearth Rs 15.3 cr cash, 10.14 kg gold in poll-bound Karnataka
The I-T officials seized 6.59 kg of gold worth Rs five crore from Hebbal, Shanti Nagar and Gandhi Nagar constituencies
 "I-T raids unearth Rs 15.3 cr cash, 10.14 kg gold in poll-bound Karnataka")
I-T dept to release draft rules for foreign investment in unlisted firms
The draft valuation rules would provide for ascertaining the fair market value (FMV) of shares of unlisted companies to levy tax on non-resident investments, an official said
 "I-T dept to release draft rules for foreign investment in unlisted firms")
IT major TCS advances generation of income tax Form 16 documents by 45 days
India's largest private sector employer, TCS, has advanced the generation of Form 16 documents for its staff by 45 days to help its over 6 lakh employees file their income tax returns in time
 "IT major TCS advances generation of income tax Form 16 documents by 45 days")
Top headlines: I-T lens on big spenders, HBO finds home in India and more
Business Standard brings you top news at this hour
 "Top headlines: I-T lens on big spenders, HBO finds home in India and more")
Income tax collection in West Bengal rises 2.4% at Rs 56,422 cr in FY23
Residents of Sikkim are exempted from paying income tax, but not for those who have gone there from other places
 "Income tax collection in West Bengal rises 2.4% at Rs 56,422 cr in FY23")
I-T dept conducts searches at premises of pvt firm with alleged DMK links
The Income Tax (IT) department is conducting searches at multiple locations in Tamil Nadu
 "I-T dept conducts searches at premises of pvt firm with alleged DMK links")
Top headlines: I-T scanner on Angel investments, Tata-Wistron deal & more
Business Standard brings you top headlines at this hour
No proposal before govt on capital gains tax, says Income Tax dept
A media report earlier in the day said India is preparing an overhaul of its direct tax law, including changes in capital gains taxes
