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2 mins read
CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated
Central Board of Direct Taxes (CBDT) chairman Agrawal said the committee is looking at the best glo…
PTI
3 mins read
Economic Survey 2023-24: Where does India stand on the employment, and what's next?
While the agriculture sector has grown at about 4.18% at constant prices over the last 5 years, Ind…
1 min read
About 6 cr ITRs filed for FY24; 70% under new tax regime
Addressing the post-budget session of PHD Chamber of Commerce and Industry, Malhotra said there wer…
PTI
1 min read
Provisions of TDS/TCS, in case of death of deductee or collectee relaxed by govt
On April 23, 2024, CBDT extended the date for linking of PAN and Aadhaar May for the taxpayers (for…
ANI
2 mins read
As India’s income inequality worsens beyond British-era levels, majority want to tax the rich, study reveals
A study by the World Inequality Lab has shown that Indian billionaires already own a disproportiona…
1 min read
Two police personnel posing as Income Tax officers held for bid to extort Delhi businessman
Two police personnel, allegedly impersonating income tax officials, were arrested by the Delhi Poli…
ANI
2 mins read
Continue 45-day MSME payment rule: Industry body to Finance Minister Nirmala Sitharaman
According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a la…
PTI
2 mins read
Did you know about the only Indian state exempt from paying any income tax? Know all about it here
Sikkim has its income tax manual, which stipulates that no resident of Sikkim was to pay taxes to…
3 mins read
Income Tax department issues warning to taxpayers, asks them to stay safe from ITR Refund scams
There has been an increase in scams targeting Indian taxpayers after the Income Tax Return filing d…
2 mins read
Filing your ITR at the last minute? Don't make these mistakes
As per official data, about 6 crore ITRs have already been filed so far, and around 70% of them hav…
3 mins read
Modi 3.0 1st Budget: Tax relief for middle class, Rs 2 lakh cr job scheme
With rural distress and unemployment being blamed for BJP losing its majority, Sitharaman in her se…
PTI
6 mins read
Union Budget 2024: A handy FAQ guide to decode the upcoming budget
Weeks before the budget presentation, the finance minister also meets representatives from vario…
2 mins read
Income Tax Department seizes record ₹1,100 crore cash and jewellery in Lok Sabha elections 2024
As per the sources, by the end of May 30th, the department had seized approximately Rs 1100 crore w…
ANI
1 min read
After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters
As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax cleara…
PTI
4 mins read
Budget 2024: Here's what India's elderlies want
If any amount you receive from NPS is reinvested in the annuity plan, it remains tax-exempt. Howeve…
2 mins read
Decline in bank deposits because of non-uniform tax treatment on various investment options: SBI report
On the concern over the recent decline in bank deposits, the State Bank of India (SBI) in its lates…
ANI
2 mins read
India-US agrees to extend 2% digital tax on e-commerce supplies until June 30
On Oct 8, 2021, both countries joined 134 other members of the OECD/G20 Inclusive Framework (includ…
ANI
3 mins read
Last-minute rush: 5 things to do before March 31
March 31 is the end of the financial year and is often a busy time for accountants and bankers. Eve…
3 mins read
Budget 2024: Tax alterations affecting stock markets — capital gains tax, STT on F&O, and more
Finance Minister Sitharaman’s 2024 Finance Bill revises capital gains tax: 20% STCG for some assets…
2 mins read
RAI's Budget wishlist: Lower taxes for individuals, benefits on land rates, electricity
Retailing in India accounts for about 10% of the country's GDP. In its memorandum, the retail assoc…