The I-T sleuths raided 38 premises linked to the lawyer in Haryana, Delhi-NCR, and seized Rs 5.5 crore on Wednesday. Also, 10 bank lockers of the advocate have been put under restraint

E-way bill generation facility will be blocked for taxpayers who haven't filed GSTR-3B for two or more tax period from October 15, 2020, says CBIC

The finance secretary said that some major industrial states have shown very positive growth percentage in GST collection which is indicative of the process of economic recovery being on track

Of the gross collection, CGST is Rs 17,741 crore, SGST is Rs 23,131 crore, IGST is Rs 47,484 crore (including Rs 22,442 crore collected on import of goods) and cess is Rs 7,124 crore (including Rs 788 crore collected on import of goods)

The fall in corporate tax collections could be because of both the fall in corporate profits due to COVID-19 lockdown as well as reduction in corporate tax rates announced in September 2019

Total expenditure during April-August 2020 was Rs 12.47 lakh crore or 41.03 per cent of budgeted estimate, of which Rs 11.13 lakh crore was on revenue account and Rs 1.34 lakh crore was on capital account

Cleanfix and Schevaran Laboratories will form a new entity CleanfixSchevaran Systems, which will manufacture Swiss-technology backed robotic cleaning machines and solutions for India and for exports

The Central Board of Direct Taxes (CBDT) has further extended the deadline for income tax returns filing from September 30 to November 30

While the clarifications were much awaited, some of them may require immediate changes to business processes and the assessees have only one day before the provisions come into effect

The Income Tax Department on Saturday said that scrip-wise reporting is not required for day trading and short-term sale or purchase of listed shares for filing of income tax returns in assessment year 2020-21

The Vodafone Group on Friday won the bilateral investment treaty (BIT) arbitration against the Indian government in the Rs 14,200 tax dispute case

As per CBDT, there are over 4.6 lakh appeals pending at level of commissioner (appeals) currently; of this, 4.05 lakh appeals, i.e., about 88%, will now be handled under Faceless Appeal mechanism

This include personal income tax (PIT) refunds amounting to Rs 30,768 crore issued to 25.83 lakh taxpayers and corporate tax refunds amounting to Rs 70,540 crore issued to over 1.71 lakh taxpayers during this period

The Income Tax department has already provided a functionality 'Verification of applicability u/s 194N' for banks and post offices since July 1, 2020

The Central Board of Direct Taxes (CBDT) on Tuesday allowed income tax authorities to share taxpayers' information with scheduled commercial banks

On Monday, the Appointments Committee of the Cabinet approved extension of six months in Mody's tenure, with effect from September 1, 2020, till February 28, 2021

The CBDT has also advised banks to not levy any extra charge on any future transactions carried out through electronic modes like RuPay cards or BHIM-UPI

This include personal income tax refunds amounting to Rs 29,361 crore issued to 23.91 lakh taxpayers and corporate tax refunds amounting to Rs 66,493 crore to over 1.63 lakh taxpayers

The extension of timelines for filing tax returns and other related tax compliances is a well-thought-out measure, as due to lockdown it is difficult for individual taxpayers to obtain necessary documentation required for preparation of tax returns and file their returns on time

Form 26AS is all-inclusive document for ease of reference for taxpayers both at the return filing stage and at the time of assessment proceedings