All individual taxpayers are now required to file ITR electronically; only super senior citizens and assessees with annual income of under Rs 5 lakh, who are not seeking a refund, can choose to do so in paper format

The recent changes introduced in the income tax return (ITR) forms and Form 16 make it possible to electronically reconcile data submitted by taxpayers, and efficiently zero in on bogus claims

ITR filing: Individual taxpayers are now required to file income tax returns electronically with an exception of super senior citizens who can file it in paper form

CBDT further explained that the filing of return will not be hampered by the updating of utility as the taxpayers are permitted to file their Income-tax returns using this software utility which is available at that point of time

Various measures announced in Budget 2019 will come into play when you file your income tax return this year. Here's a handy guide to doing it right.

As part of preventive measures, banks and other financial institutions can't sanction additional loan facilities to wilful defaulters and they are barred from floating any new venture for five years

CBDT Chairman P C Mody said that the tax department does not need to undertake such measures as it can obtain various information and data sets from multiple agencies and possesses a strong data analytics setup

The company said it was \"undergoing substantial financial stress\" and its ability to raise funds was \"substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements.\"

Allahabad Bank said in a statement that it had told the Reserve Bank of India (RBI) that it had identified a fraud worth $259 million in Bhushan's accounts.

About 90% of the cases with smaller demands are to be disposed of in FY20.

Days after presenting the Union Budget 2019, Finance Minister Nirmala Sitharaman addressed the parliament on Wednesday

The introduction of the NATAR by the government only solves the issue of the assessee on the surface. However, the real issue of having an efficacious appellate remedy against the orders of the AAR still eludes the taxpayers.

Besides increasing the tax base, the CBDT's action plan for 2019-20 also focusses on litigation management, improving compliance and enforcement

At the Budget Roundtable, Finance Minister Nirmala Sitharaman talked about steps to revive the Indian economy and enusre growth after presenting her first Union Budget which presented the vision of making India a $5 trillion economy.

The government has initiated or proposed to initiate projects to further improve the technology backbone of the Income Tax department which would result in enhanced time-bound services to the taxpayers in addition to increasing their voluntary compliance.

Finance Minister Nirmala Sitharaman further said that India needs everyone to contribute towards nation building, while adding that she is not in agreement with people who claim that it is robbing the rich.

Net outflows from debt-oriented schemes were more than Rs 1.71 lakh crore in June against inflows of Rs 70,119 crore in May, the data by Association of Mutual Fund of India (AMFI) showed.