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Latest Articles in income tax

Soon, Income Tax Exemptions To Go: Nirmala Sitharaman

Govt intends to remove all income tax exemptions in long run, said the finance minister.

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I-T Raids Premises Of Bharat Hotel MD Jyotsna Suri And Associates

Bharat Hotels operates 12 luxury hotels, palaces and resorts under The Lalit brand and two mid-market.

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Tax Dept Allows Joint Property Owners To File Returns Using Simple Forms

It has also been decided to allow a person, who is required to file return due to fulfilment of one or more conditions specified in the seventh proviso to section 139 (1) of the Act, to file his/her return in ITR-1 Form.

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Govt To Take Call On Relief In Income Tax At Appropriate Time: Thakur

There has been a clamour for raising income tax exemption limit to push demand and consumption to boost the economy.

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Income Tax Notice To Election Commissioner Ashok Lavasa's Wife

She has been issued notice to explain certain details in her ITR with regard to holding directorship in about 10 companies.

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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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