The Income Tax Department has detected ₹22,000 crore during a drive against undisclosed foreign assets and investments, a senior official told ET. It launched the drive last November based on information received under bilateral and multilateral agreements and also foreign remittance data.
Read more at: The Economic Times
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Taxpayers filing returns through ITR-5, ITR-6 and ITR-7 are still waiting for the Income Tax Department to release the online filing utilities. With just about two months left for the extended due date for non-audit cases, the delay must have caused concern among firms, companies and trusts that use these forms.
The Income Tax Department has sent emails to taxpayers informing them that since their income tax return (ITR) has been pending for assessment/ re-assessment, their tax refund amount will be withheld till the time the tax officer makes a detailed analysis of it.
The Appointments Committee of the Cabinet on Saturday said that it ha approved the re-appointment of Ravi Agrawal, as Chairman of the Central Board of Direct Taxes (CBDT), the apex policy-making body of the Income Tax Department.
