Technology, especially its tools such as data analytics and artificial intelligence, is ending the heydays of exploiting information gaps to hide income from the taxman. Tax authorities are detecting mismatches in tax returns using tonnes of information about large transactions from banks, mutual funds, companies issuing shares, stamp and registration departments of states and sounding alerts about possible tax evasion, with different wings of the revenue department, direct tax, indirect tax and customs sharing data. However, the nationwide drive to find evaders has also given a free hand to corrupt officials to exploit the system with arbitrary notices and demands. Small and large businesses are at the receiving end of the taxman's hounding, threats and at times even violence. Watch the video for more.Also Read: Indirect tax collection rises 12.3% to Rs 10.7 lakh cr in FY21

The amount/ pension received under APY is treated as taxable income. The beneficiary would be taxed as per applicable income tax slab

Total direct tax collection before adjusting for refunds for FY21 stands at Rs 12.06 lakh crore, including corporation tax at Rs 6.31 lakh crore and personal income tax, including security transaction tax at Rs 5.75 lakh crore

We support the Biden Administration's focus on making bold investments in American infrastructure, Bezos said in a blog post

Macrotech Developers IPO: On April 6, the realty firm raised Rs 740 crore from 14 anchor investors including global long only, pension funds, sovereign wealth funds multi-strategy and domestic mutual funds

Overnight funds and liquid funds, which delivered average returns of 6.97 per cent and 6.46 per cent in 2018 and 2019 respectively, offered meager returns of around 3.8 per cent in 2020

Despite improvement in manufacturing activity, India's Manufacturing Purchasing Managers' Index (PMI) fell from 58.9 in September 20 to 55.4 in March 21.

Taxpayers can import and pre-fill the data from e-filing portal and can also fill the remaining data. Since the facility to upload income taxreturn forms is not enabled yet, filers can fill and save the offline utility for now

They said the National Investigation Agency (NIA) is scrutinising the documents unearthed during a raid Thursday on a club at Girgaum in South Mumbai to probe further the role of now-suspended police officer Sachin Waze

Tax savvy investors were concerned about their contribution to Public Provident Fund (PPF) to avail deduction under Section 80C of the Income Tax Act, at lower interest rates

This include Rs 87,749 crore personal income tax refunds to 2.34 crore taxpayers and Rs 1.74 lakh crore worth corporate tax refunds in 3.46 lakh cases

Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been incorporated in the forms, CBDT said in the notification for the new ITR forms

March GST receipts were more than Rs 10,000 crore higher than the February 2021 collection of Rs 1.13 lakh crore and the highest since the introduction of the indirect tax regime

The interest rate for National Savings Certificate was also slashed to 5.9 per cent from 6.8 per cent.

Originally, the deadline for linking PAN with Aadhaar was expiring on March 31, 2021, with the end of the current financial year. Failing to link the two would by the last date would render the PAN invalid

The interest that you earn from employee's provident fund (EPF) is exempt from tax under the existing tax provisions. However, from FY22, if your EPF contribution goes above Rs 2.5 lakh in a financial year, the interest earned on the excess amount will be taxable

If India's tax- to-GDP ratio of 17.7 per cent has to get anywhere near developed countries' 25-35-36 per cent, those who should pay taxes must be brought under the tax net. But that's easier said than done

As tech helps tax authorities check evasion and fraud, taxpayers complain of harassment and misuse of powers

Income tax rule changes: Union Finance Minister Nirmala Sitharaman had announced new income tax rules in her Union Budget 2021 speech

Last day of financial year: If you do not link your PAN with your Aadhaar, it will become invalid. The government had extended the deadline to link PAN and Aadhaar to March 31, 2021