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%.

Scroll Staff

· Yesterday · 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.

Scroll Staff

· 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%.

Scroll Staff

· 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.

Scroll Staff

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If a person has already withdrawn Rs 1 crore or more in cash up to August 31, 2019, in the current fiscal, the 2% TDS shall apply on all subsequent withdrawals.

Scroll Staff

· 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.

Scroll Staff

· 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.

Scroll Staff

· 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.

Scroll Staff

· Aug 26, 2019 · 12:24 pm

ITR filing: Penalties on ITRs filed after August 31, 2019 deadline

From this year onward, late ITR filing can result in a penalty of up to Rs 10,000.

Scroll Staff

· Aug 16, 2019 · 10:32 am

Kiran Mazumdar Shaw says a government official asked her not to talk about income tax harassment

Meanwhile, former Infosys director Mohandas Pai said tax terrorism began during UPA rule but has continued into the NDA’s tenure.

Scroll Staff

· Aug 04, 2019 · 11:32 am

How to register and file income tax return online

The last date to file your income tax return (ITR) for the financial year 2018-19 has been extended from 31st July to the 31st of August, 2019.

Scroll Staff

· Jul 24, 2019 · 12:03 pm