« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  SC refuses to vacate stay on levy of tax on airport services... Moscow court targets Russneft oil tycoon over tax claim... » Beware! I-T sleuths are keeping a watch August, 29th 2007 Data from service tax department and state value-added tax (VAT) departments may now come handy for the I-T sleuths to catch those evading taxes. Traders have to register with the state VAT departments once their annual turnover crosses Rs 5 lakh. Similarly, service providers register themselves once they reach Rs 7 lakh in annual turnover. The data about number of traders registered, turnover declared and VAT paid will help the I-T department in catching tax evasion. The finance minister P Chidambaram had at the annual conference of chief commissioners of excise and customs indicated that excise department could source data from state VAT departments. The income tax department feels this information will come handy in profiling and nabbing tax evaders, a source said. It will also help in catching non-filers. Similarly, data from service tax department could be equally useful. Though, income tax department representatives meet state agencies every month for exchange of information, the data is limited to specific and big cases. If the tax department is able to get complete details of the registration, payments, etc, it could be used meaningfully. It is also collecting city-wise data on various businesses like trusts, nursing homes and educational institutions through third parties. This information will then be given to field formations for their use. It is also setting up a cell to monitor collection of tax from individuals who are caught with huge disclosures. This information will be made available to the intelligence wing for its use. This data could include modus operandi of tax evasion, amount of undisclosed investments and undisclosed bank accounts.