Income Tax  

In India, there were reports that a few Tablighi attendees threw urine bottles and defecated openly in front of their rooms at quarantine centres. The income tax department has decided to release refunds up to Rs 5 lakh in view of the lockdown. This is expected to benefit 14 lakh taxpayers.

In view of the coronavirus pandemic crisis, the IT department has decided to release IT refunds up to Rs 5 lakh 

Finance minister Nirmala Sitharaman has extended the last date for income tax filing for FY18-19 to June 30

Despite the Income Tax department extending the deadline eight times to link PAN (Permanent Account Number) card with Aadhaar card, Over 17 crore PAN cardholders have not linked the document with Aadhaar card. After the amendment in the Finance Bill, 2019, the income tax department has the authority to make all such PAN cards which are not linked to Aadhaar inoperative.

Tough times call for tough measures. We run through the intent of decisions and the impact the Union Budget 2020 will have on taxpayers and the economy

Union finance minister Nirmala Sitharaman provided relief for taxpayers by announcing a cut-down in tax rates in the government’s new Income Tax regime

Assuring that there will be no harassment of taxpayers, finance minister Nirmala Sitharaman said the intent of the government is to further simplify taxation systems including removal of exemption

Raids were conducted at the premises of contractors of Railcon, Skyway Infraprojects and RP Shah Infra Projects; those favoured by the Shiv Sena-controlled Brihanmumbai Municipal Corporation 
 

The Income Tax department has attached Sasikala’s properties worth Rs 1500 crore, under the Benami Act

Days After Finance Minister Nirmala Sitharaman announced a major cut in corporation tax in order to attract investment in the manufacturing sector which will provide a boost to make in India. According to reports now the BJP government is planning to rationalize personal income tax rates to boost the economy. Watch the video for full story.

Over the last five years, India has traveled a long way in bridging the gender gap, especially in economic activities and financial transactions. As per the data from the Income Tax Department, the rate of growth in the number of women PAN i.e. Permanent Account Number holders is greater than the rate of growth for men.

The last date to file ITR is September 30. The notices being circulated on social media stating the deadline has been extended to October 15 are fake, said the I-T Department.

Stating that there is a thin line between friendliness and professional ethics, principal chief commissioner, Income Tax Department for UP (west) and Uttarkhand, PK Gupta called for tax professionals to refrain from practices that can be construed as corrupt

If you fall under this category, you will be exempted from penalty even if you have not filed your IT returns before August 31. Here are complete details. 

Mamata Banerjee on Sunday had criticised the Centre for issuing income tax notices to several Durga Puja committees here, saying festivals should be exempt from levies