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The Latest Breaking News from CBDT

Net direct tax collections up 21.8% to ₹9.57 lakh crore

India's direct tax collections rose 21.8%, surpassing over half of Budget estimates. Refunds of up to ₹5,000 not restricted. Tax demands from past being raised, some due to tech shift. 7.27 cr returns filed, 7.15 cr verified. Gross collections up 18%, PIT revenues 29.5%. Net revenues 31.85%.

The Hindu · Oct 10, 2023

Govt. extends tenure of CBDT Chairman Nitin Gupta by nine months

The Union Government gave a nine-month extension in service “on contract basis” to CBDT Chairperson Nitin Gupta

The Hindu · Sep 30, 2023

Details of unaccounted-for wealth highly classified: Government

National Institute of Public Finance and Policy (NIPFP) refused to reveal information on unaccounted income/wealth inside/outside India, citing economic interest of country.

The Hindu · Aug 6, 2023

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Explained | Decoding the expert committee report on Adani

Explaining the expert committee report on Adani which has shown regulatory fault with SEBI

The Hindu · Jun 19, 2023

Govt allows non-resident taxpayers to manually file Form 10F till March 31 for claiming TDS benefit

NEW DELHI: The income tax department has allowed non-resident taxpayers not having PAN to file Form 10F manually till March 31, 2023, a move which would ease their compliance burden and enable them to claim lower TDS rate.

The Times of India · Dec 14, 2022

Common ITR form for all taxpayers on anvil, I-T dept invites stakeholder comments

MUMBAI: The finance ministry on Tuesday proposed to come out with a user-friendly common income tax return form for all taxpayers, under which income from virtual digital assets will have to be disclosed under a separate head.

The Times of India · Nov 2, 2022

Confusion over selecting ITR form may end

NEW DELHI: The government may finally end the confusion over which form to select for filing income tax returns. On Tuesday, the Central Board of Direct Taxes (CBDT) woke up to the need to simplify life of taxpayers and floated a draft for public consultations.

The Times of India · Nov 1, 2022

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CBDT extends deadline for filing TDS for non-salary transactions till November 30

NEW DELHI: The Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing quarterly TDS statement in Form 26Q for the June quarter by a month till November 30.

The Times of India · Oct 27, 2022

SBI rejects former CBDT chairman’s claim for his money swindled by scammers

Though the fraudulent transaction was partly frozen, bank refuses to return money citing negligence of customer

The Hindu · Sep 15, 2022

SBI rejects CBDT former chairman’s claim of his money being swindled by scammers

Though the fraudulent transaction was partly frozen, bank refuses to return money citing negligence of customer

The Hindu · Sep 15, 2022

I-T Department detects over ₹150 crore black income after raids on Rajasthan group

The Central Board of Direct Taxes said the I-T Department has seized "unaccounted assets" of over ₹11 crore so far. The CBDT frames policy for the Tax Department.

The Hindu · Aug 11, 2022

Prompt grievance redressal of taxpayers top priority, says CBDT chairman Nitin Gupta

In his message on the occasion of Income Tax Day, he said the tax department has reported the highest ever tax collection of ₹14.09 lakh crore

The Hindu · Jul 24, 2022

Rs 18.5 crore jewellery, Rs 3.5 crore cash seized from realty firms

BENGALURU: Income tax department sleuths on Monday carried out searches at over 40 locations connected to two leading real estate groups of Bengaluru and Hyderabad engaged in construction, educational and hospitality services.

The Times of India · Jul 12, 2022

IRS officer Nitin Gupta appointed new CBDT chairman

The CBDT is headed by a Chairman and can have six members who are in the rank of special secretary. It is the administrative body for the Income Tax department.

The Hindu · Jun 27, 2022

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Dynamite News · Jun 27, 2022

Bureaucracy: Nitin Gupta appointed as Chairman CBDT

The Government of India on Monday appointed IRS Nitin Gupta as chairman of the Central Board of Direct Taxes (CBDT). Read more on Dynamite News:

The Times of India · Jun 22, 2022

Onus of deducting TDS primarily rests on crypto exchanges: CBDT FAQ

NEW DELHI: The income tax department on Wednesday said the 1 per cent TDS on transfer of virtual digital assets would be levied on net transaction value and the onus of deducting the tax would primarily be on the exchanges.

The Times of India · Apr 1, 2022

Rs 17,000 crore worth GST and excise tax appeals from Hyderabad pending in courts

HYDERABAD: More than Rs 17,000 crore worth GST and customs excise tax appeals from Hyderabad customs excise and GST zone are pending in various courts and tribunals. The appeals are pending before the Supreme Court, Telangana high court and the Customs Excise and Service Tax Appellate Tribunal (CESTAT).

The Times of India · Mar 30, 2022

PAN to become inoperative after March 2023 if not linked to Aadhaar

NEW DELHI: The Income Tax (I-T) department on Wednesday said non-linking of PAN with Aadhaar by March 31 would attract penalty of up to Rs 1,000, but such PAN will remain functional for one more year till March 2023, for filing ITR, claiming refunds and other I-T procedures.

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The Times of India · Mar 30, 2022

PAN-Aadhaar linking deadline on March 31: Know all about process, status check & penalty

NEW DELHI: The last date to link permanent account number (PAN) with the biometric Aadhaar is March 31.

The Hindu · Mar 30, 2022

Non-linking of PAN with Aadhaar by March 31 to attract penalty of ₹500-1,000

While PAN is used for various transactions like opening a bank account, purchase of immovable property or proof of identity, inactive PAN will trigger domino effect and individual who have not linked their Aadhaar may face multiple challenges.

The Hindu · Mar 20, 2022

Working to improve tax literacy in country for widening taxpayer net: CBDT chairman

Direct tax body will do ‘everything possible’ to enhance the number of taxpayers, he says

The Hindu · Mar 19, 2022

Reforms in I-T dept, 'strengthening' of economy led to record tax collections: CBDT Chairman

Reforms undertaken by the Government within the Income Tax department and the “strengthening” of the Indian economy are among the major factors that led to the highest-ever direct tax collections in the country, which stand at over ₹13.63 lakh crore, CBDT Chairman J.B. Mohapatra has said.

The Times of India · Mar 17, 2022

I-T department has made highest tax collection in its history: CBDT chairman

NEW DELHI: The Income Tax department has made the "highest" collection in its history, CBDT chairman J B Mohaptra said on Thursday when the direct tax mop up jumped over 48 per cent in the current fiscal backed by a 41 per cent surge in advance tax payments.

The Times of India · Mar 17, 2022

30% tax on income from crytocurrencies to be applicable from April 1, TDS from July 1: CBDT chief

NEW DELHI: The proposed 30 per cent taxation on income from cryptocurrencies and other virtual assets will come into effect from April 1, Central Board of Direct Taxes chairman JB Mohapatra told news agency ANI on Thursday.

The Times of India · Mar 11, 2022

Rajasthan HC notice to Centre over tax on bank withdrawals

JAIPUR: The high court has issued notice to the centre and CBDT on the provision of deducting TDS on cash withdrawal from a bank account.

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