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Latest Articles in income tax

India's Tax Rise For High Earners May Trigger Fund Flight: Ex-RBI Governor

According to the new budget, people and trusts earning more than Rs 5 million a year will pay an additional 10% surcharge and 15% for those earning more than Rs 10 million.

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New Priorities Will Drive Change For IT Departments

In becoming champions of efficiency and deep integration, IT departments can set the tone and drive innovation outward, to every other team within their organization.

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Income Tax E-Filers Drop By Over 6.6 Lakh In FY19: Official Data

Kotak Economic Research in an April 30 report said: "We are surprised with the decline in income tax e-filing in FY2019."

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Jaitley Dismisses Allegations Of Political Vendetta; Says I-T Raids On Basis Of Material Evidence

Defending the raids by the I-T department, Jaitley, who is in the US to attend the IMF-World Bank meetings wrote a facebook post titled 'Legitimate action against corruption is not vendetta'.

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I-T Dept Attaches Geelani's Delhi House On Wilful Tax Evasion Charges

The flat is located in south Delhi's Malviya Nagar area and the Tax Recovery Officer (TRO) of the department has sealed the house for allegedly "failing" to pay Rs 3,62,62,160 income tax for assessment years 1996-97 to 2001-02

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How To Avoid Paying Excess TDS?

Here are some useful tips that will help taxpayers to avoid paying excess TDS

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Election Budget? Well, Not Really

The plan to process income tax returns in 24 hours is an exemplary example of using India’s competitive strength in digital technology

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Panel To Redraft Direct Tax Laws To Focus On Simplification

The recommendations of the panel is likely to be included in the final budget for 2019-20

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5.42 Crore ITRs Filed Till August, Up By 71 Per Cent, Presumptive Tax Filers Jump 8-Fold

The total ITRs e-filed upto August, 2018 increases from 3.17 crore to 5.42 crore, up 70.86 per cent. Presumptive tax filings increase on account of rise in e-filings by salaried individuals.

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Messages Luring People With Fake Promises Of IT Refunds Prowling, Alert issued

Recently, some people wrote on social media platforms that they had received messages in the name of the Income Tax Department saying their refunds have been approved

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Add 1.25-crore Fresh Tax Filers This Year: CBDT To I-T dept

A new income tax filer is defined as a person who is not included in the tax filing base at the beginning of the year, but who files the return during the year

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IT Dept Cautions TDS Deductors Against Quarterly Filing Default

The Central Board of Direct Taxes (CBDT), that frames policy for the department, issued an advertisement in leading national dailies in this context

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Income Tax Department Freezes Certain Cognizant Bank Accounts

Cognizant failed to pay the tax of more than 25 billion rupees ($385 million) in the 2016-17 financial year, the Hindu newspaper reported, citing officials from the tax department

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Major Tax Changes That Will Be Effective From 1 April

Indian Finance Minister Arun Jaitley has presented the Union Budget 2018 at the Parliament on 1 February 2018. BW Businessworld presents to you some of the key tax changes that will come into effect

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Kolkata Among Top Eight Cities In IT Revenue Collection: Jha

The mega healthcare plan announced in the Budget to provide 10-crore poor families with insurance cover against hospitalisation will cost up to Rs 12,000 crore annually and is likely to be launched on August 15 or October 2, officials said today.

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