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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
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…
ITR Filing: Today is the last day to file your income tax returns, so file today to avoid penalties
You will have to pay a penalty of Rs. 1,000 if your total annual taxable income is below Rs 5,00,00…
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
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
Govt may relax 45-day payment rule for MSMEs in Budget 2024
According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a la…
PTI
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
What a Trump or Harris presidency would mean for your tax bill
BI looked at how Harris and Trump's tax policies could impact high- and low-income earners, as well…
Juliana Kaplan,Bryan Metzger
Home loan tax deductions: Self-occupied vs rented, the differences
Buying a home is undoubtedly one of the biggest financial commitments in one’s life. And since it i…
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…
Millions of Americans could lose out on more than $700 in healthcare benefits if Congress doesn't keep these tax credits
Pandemic-era subsidies drove enrollment in Obamacare. Now, millions of Americans could see costs r…
John Towfighi
Lok Sabha passes Finance Bill, provision on LTCG tax on property transactions amended
The Finance Bill 2024 was passed by Lok Sabha on Wednesday evening with a few amendments moved by t…
ANI
Philadelphia is experimenting with guaranteed income pilots for pregnant people and housing insecure families
Philly Joy Bank and PHLHousing+ are guaranteed basic income pilots in Philadelphia offering familie…
Allie Kelly
Tax implications on income of a minor – What every parent should know
Income earned by a minor child from activities involving their skills, talent, or specialised knowl…
GST Council tweaks tax rates; Waives interest, penalty on tax dues for first 3 years of rollout
The GST Council on Saturday decided to tweak tax rates on items, including accommodation services f…
PTI
Road accident victims to get free cashless treatment: Nitin Gadkari
Union Minister for Road Transport and Highways, Nitin Gadkari, said that the govt has implemented a…
ANI
Removal of indexation benefit will lead to huge inflow of black money in real estate: Raghav Chadha
Asking the government to roll back the proposal, Chadha, while taking part in the discussion on the…
PTI
Presumptive taxation: The scheme that eases burden on small businesses
Running a small business or a professional service can often involve a single person or a few peopl…
Enforcement Directorate files case against BBC for irregularities in foreign funds
The Enforcement Directorate has filed a case against BBC India under Foreign Exchange Management Ac…
ANI
Are you an NRI having income in India? Here’s how you will be taxed
You are a non resident Indian (NRI) if you live abroad. More specifically, you are classified as "n…