Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: form 3cd :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: articles on VAT and GST in India :: due date for vat payment :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: VAT Audit :: TDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt
 
 
Direct Tax »
 CBDT gameplan to enhance TDS collection
 Don't curry political favours for transfers, CBDT tells taxmen
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation
 Income Tax Return (ITR) Filing: Common Mistakes That Could Get You A Tax Notice
 Income Tax department asks tax practitioners to register entities separately
 Last Date To File Income Tax Return. Here Are The Details
 New tax regime will deliver a mixed bag with some items turning costly
 New members at CBEC, CBDT

One million file tax returns under special drive by I-T dept
February, 01st 2016

Around one million taxpayers have filed their I-T returns for Assessment Year 2014-15 after the department tracked them under a special drive to identify those who have not filed their returns despite having an obligation to do so, according to official data.

While the amount of revenue received by the tax department under this drive has not been quantified, the data said the Income Tax department identified a total of 5.89 million such taxpayers out of which 1.12 million filed their returns for the said time period.

The drive to identify these individuals and entities was conducted under a special initiative of the department called the ‘Non-filers Management System’ which uses technology Intelligence tools to track erring taxpayers who either forget or just skip filing their returns.

The data said the drive was conducted for the AY 2014-15 and over one million new taxpayers will act to bolster its another drive to bring more and more people with good income to the tax net by the end of this financial year in March end.

Officials involved in the drive said lakhs of emails and SMSes were sent to those taxpayers who were registered with the e-filing portal of the department while efforts are being made to reach others too. The cases of the 1.17 million lakh taxpayers who filed returns for AY 2014-15 have been closed and their information has been sent to regional IT officials and Assessing Officers so that they can keep a track of their records in the future, they said.

The Central Board of Direct Taxes (CBDT) has asked the department’s Bengaluru’s CPC to issue ex-parte refunds by making required adjustments, within 30 days, in case either the taxpayer or the Assessing Officer do not make the required initiative.

This means, an official said, if the AO fails to make appropriate changes as per the objection raised by taxpayer or the taxpayer does not respond to taxman’s communication on the refunds front, the Central Processing Centre (CPC) will be issuing refunds by making any possible adjustments, as allowed under the IT Act, in the refunds and generate them independently.

The CBDT has recently asked IT department to expedite refunds of small families, specifically below Rs 5,000, and address this issue on priority as this area is one of the largest subject of grievance for taxpayers with even Prime Minister Narendra Modi ticking off the department sometime back to fasten the process of refunds.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions