Nirmala Sitharaman says Centre has not set any time frame to remove income tax exemptions

The finance minister said the second alternative tax brackets were meant to take the country towards a simplified tax rate regime.

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· Feb 17, 2020 · 10:43 am

Excessive taxation is a form of social injustice, says CJI SA Bobde

SA Bobde’s remarks come just a week before the government presents the Union Budget for 2020-’21 on February 1.

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· Jan 24, 2020 · 10:32 pm

Centre will consider suggestions for personal income tax cut, says Nirmala Sitharaman

The finance minister said she would not reduce it to bring parity with the corporate tax, but instead it will be considered for its merit.

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· Dec 03, 2019 · 11:53 am

Gross tax revenue for 2019-’20 may fall short by Rs 2 lakh crore: Report

This could take India’s fiscal deficit up to 4% of GDP, as against the budgeted 3.3%.

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· Oct 21, 2019 · 01:21 pm

India loses 5% of corporate revenue as firms shift profits to tax havens, shows research

India loses $9,718 million (approximately Rs 69,000 crore) in profits to tax havens located across the world.

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· Oct 01, 2019 · 04:55 pm

CBDT extends the due date for filing of ITRs and Tax Audit Reports for audit cases to 31st Oct 2019

This category of ITR is to be filed by those entities that are assessed under section 44AB of the I-T Act such as companies and partnership firms.

Press Trust of India

· Sep 27, 2019 · 09:26 am

GST Council raises taxes, cess on caffeinated drinks, cuts rates on hotel room tariffs

Finance Minister Nirmala Sitharaman said that railway wagons, coaches and rolling stocks will now be taxed at 12% instead of 5%.

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· Sep 20, 2019 · 09:24 pm

ITR filing 2019-20: How to check your tax refund status

In case you haven’t received your tax refund yet, here’s how you can check the reasons for delay.

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· Sep 04, 2019 · 12:27 pm

TDS of 2 percent on cash withdrawals above Rs 1 crore from September 1: Tax department

If a person has already withdrawn Rs 1 crore or more in cash up to August 31, 2019, in the current fiscal, the 2% TDS shall apply on all subsequent withdrawals.

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· Sep 01, 2019 · 01:03 pm

Beware of fake Income Tax notices: Here’s how to check if a notice or order issued by ITD is genuine

Taxpayers can now check if an Income Tax notice is genuine by visiting the IT department’s e-filing website.

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· Aug 28, 2019 · 09:57 am

ITR filing: How to check Income Tax return status online

Taxpayers can check their ITR status online through the Income Tax department’s e-filing website.

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· Aug 27, 2019 · 02:21 pm

Centre sacks 22 Income Tax officials for alleged corruption, serious irregularities in work: Reports

The action is in consonance with Narendra Modi’s effort to purge ‘black sheep’ in the tax department, a promise he made in his Independence Day speech.

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· Aug 26, 2019 · 12:24 pm