Tag archive for ‘Income tax’
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HRA exemption
By Ila Choudhary On Tuesday, April 11th, 2017
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Income tax relief could be allowed on rent receipt paid to family member

New Delhi: Recently, the Mumbai income tax appellate tribunal (ITAT) denied a claim on house rent allowance (HRA) by a taxpayer. She had paid rent in cash to her mother, but was unable to substantiate it. On the More...

CBI Director Alok Verma
By Ila Choudhary On Monday, April 3rd, 2017
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CBI arrests Income Tax Inspector for accepting Rs five lakh bribe

Ernakulam: The anti-corruption wing of the Central Bureau of Investigation (CBI) on Monday arrested an inspector of the Income Tax Department while accepting a bribe of Rs. five lakh.CBI Director Alok Verma On Friday, More...

Finance Minister Arun Jaitley had earlier expressed confidence that the currency shortage will be mitigated after December 30.
By Manish Sen On Monday, March 27th, 2017
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GST draft bills tabled in Parliament; peg peak rate at 40%

New Delhi: Finance Minister Arun Jaitley today introduced in Lok Sabha four bills on Goods and Services Tax, providing for a maximum GST rate of 40 per cent, an anti- profiteering authority and arrests for evading More...

Finance Minister Arun Jaitley is likely to approve the proposal of committee on allowances.
By Manish Sen On Wednesday, March 22nd, 2017
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GST rollout from July 1 to make goods cheaper: Jaitley

New Delhi: Hopeful of the GST rollout from July 1, Finance Minister Arun Jaitley today said it will create one of the world’s biggest single markets and make commodities cheaper and tax evasion difficult. Finance More...

Minister of State for Finance Santosh Gangwar
By Manisha Sen On Friday, March 17th, 2017
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No proposal to replace Income Tax with BTT: Govt

New Delhi: There is no proposal “at present” to replace Income Tax with Banking Transaction Tax or BTT, the government said today. Minister of State for Finance Santosh Gangwar To a query if the government More...

Sushil Chandra Chairman of CBDT, the nodal national agency responsible for administering Income Tax department.
By Ila Choudhary On Thursday, March 9th, 2017
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I-T asks blackmoney holders to make honest declarations

New Delhi: The I-T department today nudged blackmoney holders to make “honest” disclosures under the tax amnesty scheme — PMGKY — warning that non-declaration could attract 77.25 per cent tax and penalty More...

Finance Minister Arun Jaitley.
By Manish Sen On Thursday, March 2nd, 2017
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Model GST Bill to go for 20% peak tax, slabs intact for now

New Delhi: The GST Council has proposed to raise the peak tax rate to 20 per cent, from the current 14 per cent, in the model goods and services tax Bill to preclude the requirement of approaching Parliament for More...

Najib Shah Chairman of  CBEC,   the nodal national agency responsible for administering Customs, Central Excise, Service Tax .
By Ila Choudhary On Thursday, March 2nd, 2017
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Central govt to hire 2.8 lakh staff in a year, police, I-T and customs to get lion’s share

Customs and excise department, which will implement the ambitious GST regime, will get additional manpower of over 41,000. The picture shows Najib Shah Chairman of CBEC, the nodal national agency responsible for More...

First former CBI Director A P Singh.
By Manish Sen On Thursday, February 23rd, 2017
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Former CBI chief A.P. Singh refutes corruption charges

New Delhi: Coming out defiantly against the allegation of being involved in a corruption case related to meat exporter Moin Qureshi, former Central Bureau of Investigation (CBI) chief A.P. Singh on Thursday said More...

Sushil Chandra Chairman of CBDT, the nodal national agency responsible for administering Income Tax department.
By Manish Sen On Friday, February 17th, 2017
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I-T dept to issue ‘non-statutory’ letters in case of no reply

New Delhi: Over Rs 4.5 lakh crore worth of suspicious deposits by 18 lakh people are under “verification” by the I-T department, which will send “non-statutory” letters to those who have More...

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