The Central Board of Direct Taxes, which frames policy for the I-T Department, said in a July 21 order that information like a permanent account number (PAN), Tax Deduction and Collection Account Number (TAN), bank account details, a summary of IT Returns and tax deducted at source (TDS)

The source said in the first phase of faceless assessment, a total of 58,319 cases were assigned in an automated way randomly and these were kept away from the geographical jurisdiction of the case, based on computer algorithms

The Central Board of Direct Taxes (CBDT) said that data analysis has identified certain taxpayers with high value transactions who have not filed returns for AY2019-20 (relevant to FY2018-19)

The CBDT said that financial transaction information received from filers would be shown in the new Form 26AS \"to facilitate voluntary compliance, tax accountability and ease of e-filing of returns\"

If you invest in fixed rate bond at lower rate and the rate increases after some time you incur notional loss. One of the most unique advantages with this bond is that it will not carry an interest rate risk like the fixed rate bonds

Following the Supreme Court's 2018 judgement on the constitutional validity of Aadhaar, it is obligatory to link the 12-digit identification number with PAN card in order to file the income tax returns (ITR)

Through a notification, the Central Board of Direct Taxes (CBDT) has amended Income Tax Rules to include TDS on e-commerce operators, dividend distributed by mutual funds and business trusts, cash withdrawals, professional fees and interest

The Income Tax department issued tax refunds at a speed of 76 cases per minute from April 8 to June 30th, 2020. The refunds were issued electronically and have been directly deposited into the bank accounts of taxpayers

The government has extended income tax returns (ITR) filing deadline for FY 2019-20 to November 30, 2020, from July 31

PM Vaya Vandana Yojana pension scheme is offered by Life Insurance Corporation and comes with a lock-in period of 10 years. It gives you an assured annual return of 7.66 per cent per annum

The University of Cambridge, which is legally called the Chancellor, Masters and Scholars of the Cambridge, has invested in Kotak's equity offering for generating longer term returns

Under the tax law, banks, mutual funds, companies and registrar, etc are supposed to furnish details of high value transactions

Industry veterans warn the steepest slump in years may lie ahead for Bollywood, as virus infections in Mumbai, the home of the Hindi movie industry, make up about a fifth of India's tally

Vodafone Idea had appealedfor tax refund of Rs 4,759.07 crore for assessment years (AY) 2014-15 to 2017-18, but the court granted relief for first year only

India's equity markets have lost more than a fifth of their value this year, while the S&P 500 has corrected by just over 11 percent. The S&P 500 also has almost no correlation with India's markets, making it an ideal hedge for domestic investors

For businesses with large tax liabilities, delaying the tax payment by three months would mean a large interest outgo, and hence those taxpayers, who have sufficient cash-in-hand are planning to pay the taxes and file returns on time

Voluntary Provident Fund, also called Voluntary Retirement Fund, is an extension of Employee Provident Fund, and offers similar benefits as PPF along with an added advantage of typically a higher interest rate than the PPF

As the economy is unlikely to recover from the low interest regime any time soon, senior citizens need to take stock of their investments

Coronaviris News Updates: Director of Bhopal Health Department, J Vijay Kumar, tests positive for coronavirus; his second test sample also found positive

Various research firms and rating agencies have estimated that economic activities during the lockdown period would drop to 20-30 per cent level, and since two-thirds of the lockdown period falls in April, the impact would be visible more in the May