The Central Board of Direct Taxes (CBDT) has constituted a task force to restructure the entire Income-tax department. The panel, which comprises 10 senior officials of the department, will reassess the role and functions of the department and weed out the anomalies in the new faceless regime meant to cut down physical interface between a … Read more
The Shiv Sena on Friday slammed the BJP over the Income Tax Department’s action against actor Sonu Sood, saying that although the party earlier praised him for his work during the lockdown, it now considers him a “tax evader” after the Delhi and Punjab governments tried to join hands with him in his social work. … Read more
Beginning this financial year, the income tax department will have direct access to details of capital gains made, dividends received and interest earned by investors, which is expected to plug under reporting or non-declaration of such income. A notification issued by the I-T department on March 12 has included stock exchanges, depositories, clearing corporations and … Read more
Mumbai: The income-tax (IT) department has seized cash of around ₹12 crore and is currently going through the contents of the lockers seized in a raid carried out last week on three alleged close associates of Rajasthan chief minister Ashok Gehlot and his family members. Sources say that while the cash has been recovered from … Read more