The non-tax revenue was, however, slightly lower at Rs 787.14 crore during April-July this year compared to Rs 971.75 crore last year, the CAG data showed

A division bench of justices' TS Sivagnanam and V Bhavani Subbaroyan recorded the submissions made by the IT department and issued notice to the music composer

This is Part I of two-part article revisiting critical economic decisions that eventually led to minus 23.9% growth in Q1 of FY21. Blaming exogenous factors (pandemic) or intense lockdown is merely an excuse to divert attention from government's ineptitude and thwart meaningful debate

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

Sebi had initiated investigation into trading of shares of GSL after receiving reference from the Income Tax Department. It was found that Global Securities Ltd (GSL) had in October 2010 come out with preferential allotment which turned out to be a sham

Deepak Kochhar was arrested by Mumbai branch of the ED under the Prevention of Money Laundering Act in connection with the ICICI Bank-Videocon money laundering case

Most sectors, except IT, have instances where APA authorities have been approached for a revision. A case-by-case approach is being applied

Finance secretary Ajay Bhushan Pandey said, \"The move to a faceless system will lead to reduced compliance burden, lower cost of compliance and reduced litigation\"

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

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

India's current efforts in restructuring its tax system should eventually eliminate the need for compliance - something similar to what the tax administration department of UK, is trying to achieve through its Making Tax Digital initiative

The agreement came after French tax authorities carried out an extensive audit of a decade of Facebook's operations in the country, from 2009-2018

The move came a month after US President Donald Trump ended Hong Kong's special status with the US and signed a legislation to sanction Chinese officials responsible for cracking down on political dissent in Hong Kong

The ED had, in March last year, carried out several raids, one of which was conducted at Deepak Kochhar's office from where it seized a hard disk, diary, and Rs 10.5 lakh

From banking and logistics to governance, the public ledger technology is helping cut cost and time, enhancing efficiencies

The revenue department said that it has no desire of collecting equalisation levy in respect of income on which tax has already been paid by MasterCard either by way of TDS or advance tax

The finance ministry has cleared the air on a report that said the Statement of Financial Transactions (SFT) expansion would result in filing of high value financial transactions in ITR by the taxpayers themselves. The taxpayer would not need to mention high value transactions in their return. The reporting of high value transactions to the income tax department would be done by the third parties under the Income Tax Act. Watch the video for more.

Income Tax Department officials say taxpayers need not mention high-value transactions in their return as it's done by third parties under the Income Tax Act