After conducting raids in around 50 premises spread across Bengaluru, Mumbai and Goa, the Income Tax Department has detected unaccounted income of more than Rs 1300 crore of people involved in the execution of joint development agreements with some Karnataka-based real-estate developers.

The official statement from finance ministry said, "In view of the representations received by Central Board of Direct Taxes (CBDT) and with a view to avoid genuine hardship to taxpayers, the CBDT condones the delay in filing of Form 10A up to November 25, 2022 in respect of certain provisions of section 12A / section 10(23C)/section 80G/section 35 of the Income-tax Act, 1961."

New Delhi [India], September 9 (ANI): Direct Tax collections up to September 8, 2022 show that gross collections of the year are at Rs. 6.48 lakh crore, which is 35.46 per cent higher than the gross collections for last year, said a press release by Central Board of Direct Taxes on Friday.

Kolkata (West Bengal) [India], August 31 (ANI): The Income Tax Department carried out a search and seizure operation on two prominent real estate groups in Kolkata, said officials on Wednesday.

New Delhi [India], July 26 (ANI): The Income Tax Department carried out a search and seizure operations earlier this month on groups engaged in the agro and textile business and some others. A total of 27 premises were covered during the search action in Mumbai and Delhi NCR.

New Delhi [India], July 24 (ANI) The entire life cycle from the filing of the return of income to their verification processing, scrutiny, assessment, and appeal has now been digitized end-to-end through the 'Faceless Assessment' initiative, which has significantly improved processing of returns and issuance of refunds, said Chairman Central Board of Direct Taxes, Nitin Gupta.

New Delhi [India], April 7 (ANI): The National Payments Corporation of India (NPCI) on Thursday clarified that the organization is not aware of any virtual digital asset exchange using the Unified Payments Interface (UPI) for transactions.

Mumbai Feb 21 PTI Union Finance Minister Nirmala Sitharaman on Monday rued that women are reluctant to join company boards and she has herself struggled to convince candidates The remarks come even as the statutes mandate top 1000 companies to have at least one independent woman director I have actually made a lot of attempts in my own level as a minister in calling up some people and saying please would you not want to come to a board We want your experience We want presence No I have not had enough women coming So there is a serious issue Sitharaman said Get me those kind of women who can be put on the boards Where are they she asked the audience at a post-Budget meet with industry in the financial capital She also urged the industry to come up with the right solutions to tackle the problem assuring all support from the government We should talk think about it and also keep the end results that we so desire before us All of us will have to apply our mind the minister said Revenue Secretary Tarun Bajaj chipped in to say that over half of the Central Board of Direct Taxes now constitutes women and termed the experience of working with them as much better easier one that leads to many perspectives and a balancing one Headhunter-turned-founder of Avaana Capital Anjali Bansal said the percentage of women directors has grown to 20 per cent now from 35 per cent earlier courtesy the changes in the Companies Act and recommendations of the Uday Kotak committee on corporate governance To a suggestion on mandating hiring of women for companies Finance Secretary T V Somanathan made his concerns public drawing from experience in the Ministry of Company Affairs at the time of mandating corporate social responsibility CSR spending for some enterprises You industry are now seeking government regulation on something which is unregulated If that is what you want you should be very clear and that should not become like CSR where people said why to have a regulation Why 2 per cent Why not 15 Why not 3 per cent he said Under the Companies Act 2013 certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards CSR activities in a particular financial year Would you like a reservation policy for women in the corporate sector Would you like for a reservation policy for other weaker sections in private sector You have to think about it very clearly as to what you want before you ask for it Because if you are not clear you will get something which may not be what you have been asking for You should be very specific he added PTI AA ABM ABM ABM

New Delhi [India], December 28 (ANI): Over 4.67 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as of December 27, 2021. More than 15.49 lakh ITRs were filed on December 27, 2021, and this number is likely to increase further as the due date of December 31, 2021, is approaching, said a press release by the Central Board of Direct Taxes.

New Delhi [India], December 9 (ANI): Central Board of Direct Taxes on Thursday issued a refund of over Rs 1,32,381 crore to more than 1.19 crore taxpayers from April 1, 2021, to December 6, 2021, said the Income Tax department.