Business

July 21, 2020 2:33 PM

CBDT, CBIC sign MoU for data exchange

A MoU was signed between Central Board of Direct Taxes, CBDT and the Central Board of Indirect Taxes and Customs, CBIC today for data exchange between the two organizations. This MoU will facilitate the sharing of data and information between CBDT and CBIC on an automatic and regular basis. In addit...

July 20, 2020 9:48 PM

BIKEBOT SCAM: ED attaches assets worth Rs 103.73 crores

Enforcement Directorate, ED has attached movable and immovable assets to the tune of Rs.103.73 crore of M/s Garvit Innovative Promoters Limited, its promoter Sanjay Bhati and others in BIKEBOT SCAM under Prevention of Money Laundering Act, PMLA.   Attached assets include 26 immovable properties tota...

July 20, 2020 1:44 PM

Govt starts e-campaign on Voluntary Income Tax Compliance for tax payers

The Income Tax Department is all set to start an e-Campaign on voluntary compliance of Income Tax for the convenience of the taxpayers from today. The 11-day campaign will focus on the assessees or taxpayers who are either non-filers or have discrepancies in their returns for the financial year 2018...

July 19, 2020 2:29 PM

Faceless Assessment system of IT Dept a game changer

The Faceless Assessment system of the Income Tax Department has been a game changer in the arena of direct taxation. It has empowered the taxpayers and has, as a foremost mechanism, altered the facets and perception of overall tax administration in the country. Since its launch on 7th October last y...

July 19, 2020 1:53 PM

India Business Council to host 2020 India Ideas Summit on July 22

India Business Council will host the 2020 India Ideas Summit on July 22nd. The Summit convenes business and government leaders for discussions on the future of the U.S.-India Partnership and the trends shaping globalization, trade and investment, and the future of work in the COVID-era and beyond. T...

July 17, 2020 8:05 PM

CBDT issues refunds worth more than Rs 71,000 cr during pandemic

The Central Board of Direct Taxes, CBDT has issued refunds worth 71 thousand 229 crore rupees in more than 21 lakh cases to help taxpayers with liquidity in COVID-19 pandemic days. CBDT said that Income Tax refunds amounting to 24 thousand 603 crore rupees have been issued in over 19 lakh cases to t...

July 17, 2020 4:47 PM

Sensex closes 548 points up; Nifty settles at 10,902

Benchmark domestic stocks today advanced 1.5 per cent amid mixed global cues. Sensex regains 37,000 mark and Nifty reclaimed 10,900 level. Sensex at Bombay Stock Exchange closed 548 points, or 1.5 per cent, up at 37,020. Similarly, the Nifty at National Stock Exchange gained 162 points, or 1.51 per ...

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