The Central Board of Direct Taxes (CBDT) has announced the formation of an internal committee tasked with a thorough review of the Income Tax Act. This initiative aims to modernise tax regulations and enhance the user experience of the e-filing portal.

CBDT establishes committee to overhaul income tax act and enhance e-filing experience

Revenue Secretary Ajay Bhushan Pandey will hold a day-long brainstorming session on January 7 with commissioners of state and central taxes to discuss how the Goods and Service Tax (GST) system can be streamlined for faster refunds, enhanced compliance and discourage tax evaders.

Officials to meet on January 7 for streamlining GST refunds, curbing evasion

The Income Tax (I-T) Department has made history with the highest ever jump in the e-filing of income-tax returns (ITRs). An all-time high of 49,29,121 ITRs were filed in a single day on August 31, said the Central Board of Direct Taxes (CBDT) on Sunday.

Highest ever 49,29,121 income-tax returns filed in single day on August 31: Central Board of Direct Taxes

The Central Board of Indirect Taxes and Customs (CBIC) said on Monday it has given marching orders to 22 senior officers following an investigation into charges of corruption against them.

22 senior officers facing corruption charges shunted out

The date for filing income tax returns (ITR) for the assessment year 2019-20 has been extended to August 31, 2019, said the government in a statement on Tuesday.

Deadline to file income tax returns extended till August 31

Amid allegations of former Karnataka chief minister B S Yeddyurappa having paid Rs 1,800 crore to BJP leaders, the Income Tax Department Friday issued a clarification saying its one-and-half-year-old searches yielding "loose sheets" of papers containing "numerical entries" against "some individual names" appear to be doubtful as the originals are not available.

Tax dept says 'loose sheets' containing alleged pay-offs by Yeddyurappa doubtful

Indian subsidiaries of US multinational corporations have a cause for cheer with the Central Board of Direct Taxes (CBDT) providing compliance relief for those whose parents are in countries which do not have an agreement with India.

India, US to sign pact for exchange of 'Country-by-Country' reports by March-end

The Centre on Friday authorised select security and intelligence agencies for purposes of interception, monitoring and decryption of any information generated, transmitted, received or stored in any computer resource.

Government empowers security, intelligence agencies for mass surveillance

The number of taxpayers earning above Rs 1 crore per annum has risen to over 1.40 lakh in the country in the last four years, depicting a growth of about 60 per cent, the Central Board of Direct Taxes (CBDT) said Monday.

In last 4 years, number of Indian crorepatis has risen by 60%: Tax Board

Central Board of Direct Taxes (CBDT), which is responsible for framing a policy for the department, had earlier issued a notification on Monday, April 9, providing a new tick box for transgenders to apply for PAN

Transgenders can now issue PAN cards under 'Independent' gender category

CBDT chief said 'Those who have earned from Bitcoin would have to give tax. Their source of income would also be asked and if they don't pay tax, action will be taken against them'

Earnings from Bitcoin will be taxed: CBDT chief

The agreement would allow automatic sharing of tax-related information from January 1 next year

Black money: India-Swiss deal inked, data sharing from January 1

Direct tax collections for FY 2017-18 up 14.4%

Financial institutions have to obtain self-certification for all individual and entity accounts opened between 2014 and 2015

India: Bank accounts not self-certified by April 30 to be blocked