Fall in direct tax collection on expected lines and temporary: CBDT
New Delhi: The Central Board of Direct Taxes (CBDT) on Sunday informed that net direct tax collection for the FY 2019-20 was less than that in comparison to FY 2018-19 but highlighted that this fall in the collection More...
IT Principal Commissioner allegedly commits suicide in Delhi
New Delhi: A principal income tax commissioner allegedly committed suicide by hanging himself from the ceiling fan in his bedroom using a bed sheet, at his residence in Bapu Dham, Chanakyapuri, New Delhi on Wednesday, More...
Income Tax employees pledge one day’s salary to PM-CARES Fund
New Delhi: All the employees of the Income Tax (IT) Department on Tuesday pledged to contribute their one day’s salary to PM-CARES Fund constituted by Prime Minister Narendra Modi to combat the coronavirus More...
LS passes Direct Tax Vivaad Se Vishwas Bill
New Delhi: A bill to provide an opportunity to taxpayers to settle their tax disputes by paying just due taxes with complete waiver of interest and penalty by March 31 was approved by Lok Sabha on Wednesday. Finance More...
88,000 appeals pending before Income Tax Appellate Tribunal: Chairman
Dehradun: There are 88,000 appeals pending before the Income Tax Appellate Tribunal (ITAT) and efforts are being made for their speedy disposal, its chairman said on Wednesday. ITAT Chairman Justice P P Bhatt Of More...
90% of pending income tax cases will be settled under ‘Vivaad Se Vishwas’: Thakur
Indore: The government expects to resolve 90 per cent of the income tax disputes through ‘Vivaad se Vishwas’ scheme announced in the Budget for 2020-21, Union Minister Anurag Singh Thakur said on Tuesday. “Govt More...
12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy
New Delhi: A 12 per cent growth in tax collections next fiscal may look ambitious to some but for Revenue Secretary Ajay Bhushan Pandey it is achievable in an economy that is projected to clock a 10 per cent nominal More...
I-T Dept launches e-calculator to compare due tax under new, old regime
New Delhi: The Income Tax Department on Thursday launched an e-calculator for individuals to estimate and compare their tax liability under the new tax slabs as compared to the existing regime, officials said on More...
Shifting to optional tax slab will benefit taxpayers: Official
New Delhi: Taxpayers willing to migrate to the new personal income tax regime announced in the Union Budget for 2020-21 will get more benefits than the older system, a senior official said on Monday. Multiple layers More...
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...
