The Central Board of Direct Taxes amended the income tax rules and said the application forms would give an option to the applicant as to whether mother is a single parent and the applicant wishes to furnish the name of mother only

Showering praise on Finance Secretary Hasmukh Adhia, who retires on November 30, Finance Minister Arun Jaitley Saturday said he was a no-nonsense civil servant who performed his job with professionalism.

Ashok Chawla resigns as non-executive chairman of Yes Bank; IT dept looking into 80,000 cases where returns not filed after demonetisation; Royal Enfield launches Continental GT 650 Twin, Interceptor INT 650 Twin in India; Flipkart registers 5x growth in air purifiers; Google launches Night Sight for Pixel 3, 3XL. Watch more in this episode of Business Wrap.

Ashok Chawla resigns as non-executive chairman of Yes BankFormer bureaucrat Ashok Chawla resigned as non-executive chairman of Yes Bank on Wednesday, the private sector bank said. According to sources, Mr Chawla offered to quit as controversy was being generated on his continuance on the board of directors following his name appearing in a CBI charge-sheet in the Aircel-Maxis case. IT dept looking into 80,000 cases where returns not filed after demonetisationThe Income Tax Department is ...

Apart from the post-demonetisation exercise, the department is also pursuing those who have not field their returns on time.

HSBC executes India's first overseas blockchain payment for Reliance IndustriesBritish bank HSBC has executed India's first financial transaction using blockchain for a deal involving an export by Reliance Industries to an American client. The blockchain-enabled letter of credit transaction was for a shipment from the Mukesh Ambani-led company to US-based Tricon Energy, and helped reduce the time required to process the documents. The statement claimed that the solution is a significant impro...

CBDT had set a target of 1.25 new tax filers for the taxman this fiscal early this year.

The PM Narendra Modi-led Appointments Committee of the Cabinet has appointed Mishra as the principal special director in the ED, along with assigning him the additional charge of ED director.

In a number of cases, notices have been issued to individuals or business entities to explain their transactions, the officials said.

The Income Tax Department has launched a major operation to investigate cases of illegal funds and properties stashed abroad by Indians and may invoke the new anti-black money law for strict criminal action in many such cases, officials said Monday.

As per the latest data, the number of taxpayers getting refunds is up by 62 per cent from 1.22 crore refunds in the corresponding period of the last fiscal