Income tax
- India
Tax exemption to continue on salary income by NRIs in Gulf: Sitharaman
New Delhi: Union Finance Minister Nirmala Sitharaman on Thursday said that salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India. Reacting to the…
- India
Income tax return filing deadline extended till Jan 10
New Delhi: The government on Wednesday extended the deadline to file income tax return (ITR) for individuals by 10 days to January 10, 2021. The deadline for filing tax returns by businesses…
- India
Haj Pilgrimage: Logjam over income tax return continues
Hyderabad: Haj Committee of India had petitioned Central Government’s Ministry of Finance to exempt the Haj Pilgrims from the mandatory filing of the income tax return. Chief Executive Officer of Haj Committee…
- India
Income tax return filing deadline for FY20 extended till Dec 31
New Delhi: The deadline for filing returns by individual taxpayers for FY 2019-20 has been extended by a month till December 31, the finance ministry said on Saturday. For those taxpayers whose…
- India
CBDT issues over Rs 1,21,607 cr to over 35.93 lakh taxpayers
New Delhi: The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,21,607 crore to more than 35.93 lakh taxpayers between April 1, 2020, and October 6, 2020, said the Income…
- World
Trump paid no income tax in years leading to Presidency: Report
Washington: President Donald Trump paid no federal income tax in 10 of the past 15 years, The New York Times reported on Sunday. He paid just $750 in both 2016 and 2017, after years of…
- India
No proposal to include high-value transactions in IT Return: Sources
New Delhi: There is no proposal to modify Income Tax returns forms, said Finance Ministry sources when asked to comment on the news reports that appeared in certain sections of media where…
- News
Restrictions on cash transactions under Income Tax laws
New Delhi: The income tax laws in India have various restrictions on payment and reception of money in cash. Restrictions on business The tax laws have prescribed a daily limit of Rs…
- India
Centre extends deadline of filing ITR for FY20 to Nov 30
New Delhi: In a major relief for taxpayers amid the coronavirus pandemic, the Centre on Wednesday announced the extension of the due date for filing income tax returns for the financial year 2019-20.…
- Politics
Cong slams Centre over Chh’garh raids, reminds federalism
New Delhi: The Congress has launched an attack on the Union Government over Income Tax raids in Chhattisgarh for the past 4 days and termed it as “Coercive & Insecure Centrism”. The…
- Business
Breaking down the new Income Tax structure
The Union Budget presented by Finance Minister Nirmala Sitharaman has proposed major changes in Income Tax rates. A new Section 115 BAC is being introduced whereby an individual and HUF can opt…
- Top Stories
Budget 2020: New income tax slabs announced
New Delhi: In a major relief for individual taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced a new regime of personal income tax. New personal income tax regime “Under the new personal…
- News
20% of salary will be cut if fail to furnish these details: CBDT
NEW DELHI: All salaried class have been alerted that your employers will soon deduct 20 per cent of your salary as TDS if you fail to furnish Permanent Account Number (PAN) and…
- Hyderabad News
Gangster Nayeem’s wife presented before Income Tax officials
Hyderabad: Official of Income Tax Dept. had issued a notice to Haseena Begum, wife of gangster, Nayeem about Benami properties. She told the officials that her husband, Nayeem never used to tell…
- Delhi
I-T raids unearth Rs 1,000 cr worth hawala money in Delhi
New Delhi: In a massive search operation in Delhi, the Income Tax (I-T) department has unearthed hawala and other accommodation entries of more than Rs 1,000 crore. The tax department has also…
- Bangalore News
Karnataka: G Parameshwara appears before I-T Department
Bengaluru: Former Karnataka deputy chief minister G Parameshwara on Tuesday appeared before Income Tax Department for a hearing in Bengaluru days after Rs 4.52 crores were recovered from raids conducted at premises…
- Bangalore News
K’taka: IT raids Siddhartha Medical College
Tumkur (Karnataka): Income tax sleuths continued to raids locations linked to Congress leader and former Deputy Chief Minister G Parameshwara on Friday. The IT department today conducted a raid at premises of…
- India
Reliance First Family gets Income Tax notices
Mumbai: Members of Mukesh Ambani family reportedly got notice from Income Tax Department of Mumbai unit. The notice was served under Black Money Act. Notices were served to Mukesh Ambani’s family members…
- India
UP exchequer pays CM’s income tax, parties in shock
Lucknow: The shocking revelation that the Uttar Pradesh exchequer has been paying the income tax of Chief Ministers and their Ministers since 1981 has left all political parties in shock. A report published…
- News
Abolish income tax to eliminate economic crisis: Swamy
Swamy informed that he is also coming up next month with a book, suggesting steps to spur economic growth. Chandigarh: Batting for abolishing income tax, hiking interest rate on fixed deposits and…
- Business
Date for filing ITR extended to August 31, 2019
New Delhi: The date for filing income tax returns (ITR) for the assessment year 2019-20 has been extended to August 31, 2019, said the government in a statement on Tuesday “The due…
- Hyderabad News
Income Tax day Celebrations
Hyderabad: On the occasion of 159th Income Tax Day, the Income Tax Department, Andhra Pradesh & Telangana Region, Hyderabad, is observing the Income Tax Day Celebrations on July 24 at 4.00 PM at…
- India
Addtional income tax rebate for purchasing electric vehicles: Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman said on Friday that India can become a global hub of manufacturing electric vehicles and announced a series of sops including likely reduction in GST rate…
- News
SC dismisses contempt petitions against former, present revenue secretaries
New Delhi [India]: The Supreme Court has dismissed the contempt petitions of former Income Tax commissioner SK Srivastava against former revenue secretary Hasmukh Adhia and current revenue secretary AB Pandey. Srivastava, who…
- News
Disability pension of all ranks of armed forces to be exempt from Income Tax
New Delhi [India]: The Centre on Monday clarified that disability pension of all armed forces irrespective of rank shall continue to be exempt from income tax. The tax exemption will be only…
- Crime in Hyderabad
Silver worth Rs 40 cr seized in Hyderabad
HYDERABAD: The Hyderabad police have seized 10.5 tonnes of silver worth around Rs 40 crore, transported to the city from Chennai. Police personnel at Bowenpally in Secunderabad stopped three containers and two…
- News
Delhi HC refrains Centre from taking action against Gautam Khaitan in money laundering case
New Delhi [India]: The Delhi High Court on Thursday refrained the central government and the Income Tax Department from taking any action at this stage from proceeding against lawyer Gautam Khaitan under…
- Crime and Accident
Rs 169 cr unaccounted cash seized in TN so far
Chennai: A total of Rs 169.61 crore unaccounted cash has been seized by Election Commission officials and Income Tax (IT) department in Tamil Nadu till date, a senior poll panel official said…
- India
Namakkal raids: I-T sleuths seize unaccounted cash worth Rs 14.54cr
Namakkal: Income Tax department officials have seized unaccounted cash worth Rs 14.54 crore from the premises of PSK Engineering Construction and Co in Namakkal district. Out of the amount seized, a major…
- News
AP: I-T Dept carries out raids at TDP MP Galla Jayadev’s residence
Guntur (Andhra Pradesh): Income tax sleuths on Tuesday raided different locations related to Telugu Desam Party (TDP) MP Galla Jayadev. Confirming the raids, TDP spokesperson Lanka Dinakar said Jayadev, along with other…
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