Tag archive for ‘Income tax’
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By Manish Sen On Monday, February 3rd, 2020
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New tax structure gives option to save tax: Revenue Secy

New Delhi: The new lower income tax rates offered in the Budget 2020-21 will leave more cash in the hands of those who do not wish to make compulsory investments to save tax, said Revenue Secretary Ajay Bhushan More...

By Manish Sen On Saturday, February 1st, 2020
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Budget 2020: New personal tax regime to benefit pensioners

“In the personal income tax also there are only very few people who would be taking a very large number of deductions,” said Revenue Secretary Ajay Bhushan Pandey. New Delhi: The new personal tax regime More...

By Manish Sen On Saturday, February 1st, 2020
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Taxpayer opting for new tax regime to forego deductions on PF, tuition fee, insurance

New Delhi: A taxpayer opting for new income tax slabs and rates will have to forego a host of exemptions and deductions, including a standard deduction of Rs 50,000, tuition fee of children, and contribution towards More...

By Manish Sen On Saturday, February 1st, 2020
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Finance Minister Sitharaman delivers longest budget speech, breaks own record

New Delhi: Union Finance Minister Nirmala Sitharman on Saturday presented her second union budget and made the record of delivering the longest budget speech. Finance Minister Nirmala Sitharaman today presented More...

By Manish Sen On Saturday, February 1st, 2020
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Budget provides big income tax relief for individuals

New Delhi: In a major relief for individual taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced a new regime of personal income tax. Finance Minister Nirmala Sitharaman today announced a new regime More...

By Ila Choudhary On Friday, January 24th, 2020
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India faces first fall in direct taxes in at least two decades – sources

Mumbai: India’s corporate and income tax collection for the current year is likely to fall for the first time in at least two decades, over half a dozen senior tax officials told Reuters, amid a sharp fall in More...

By Manish Sen On Thursday, January 16th, 2020
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I-T serves notice to Mumbai labourer, demands Rs 1 crore payment in lieu of transactions

Mumbai: A labourer who earns around Rs 300 per day has received a notice from the Income-Tax department asking him to pay over Rs 1 crore. 35-year-old Bhausaheb Ahire lives with his family in a slum in Ambivli and More...

By Manish Sen On Monday, December 30th, 2019
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CBI searches premises of IRS officers in IMA scam

New Delhi: The CBI has carried out searches at eight locations, including the premises of two IRS officers (Income Tax) based in Bengaluru, in connection with I-Monetary Advisory (IMA) ponzi scam, officials said More...

By Manish Sen On Sunday, December 8th, 2019
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Corrupt junior Income Tax, Customs, CGST officers to be given compulsory retirement

New Delhi: The central government has started an operation to screen corrupt junior Income Tax, Customs, Central Goods and Services Tax (CGST) officers who will given compulsory retirement, the Finance Ministry More...

By Manish Sen On Saturday, December 7th, 2019
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Income tax dept conducts search ops on stock brokers, traders across country

New Delhi: The income tax department has carried out search operations on certain share-brokers and traders for allegedly executing fraudulent trades in illiquid stock options. Over 39 locations spread across Mumbai, More...