Direct tax collections increased to 19% in the first four months of the current fiscal as demonetisation of higher denomination currency brought in more number of individuals in tax net. Collections of direct taxes, which are made up of personal and corporate taxes, soared to Rs 1.90 lakh crore in[Read More…]
Tag: IT department
Another 5.56 lakh people found to have inconsistent tax profiles with money deposited post demonetisation
The Income Tax Department has identified another 5.56 lakh people whose tax profiles are found to be inconsistent with the money deposited by them post demonetisation in October last year. With an aim to detect black money generation post demonetisation, the I-T department carried out the second phase of ‘Operation[Read More…]
Delhi tax defaulters names published by the IT dept
On Thursday, the Income Tax department issued the names of five tax defaulters who owed over 10 crores to the government. This is a new strategy adopted by the government in order to shame the tax defaulters who are indebted of hefty amounts. The latest list released has five names[Read More…]
You can now correct PAN and Aadhaar details errors online
In order to ensure security, the IT department has launched an online facility to correct errors in names and other details in permanent account number (PAN) and Aadhaar document. Additionally, to make the process of Aadhaar linking hassle-free, the department has also put two separate hyperlinks on its e-filing website.[Read More…]
Large-scale layoff in IT firms due to digitisation
Those working in IT giants of India are facing serious crunch due to the recently executed large-scale layoffs. While this comes soon after the industry slowed down in growth, giants ranging from Infosys to Cognizant, almost all are witnessing the crunch. As per reports, the layoffs are attributed to growing[Read More…]