Tag archive for ‘Income tax’
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By Ila Choudhary On Thursday, April 1st, 2021
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Salary income of Indian workers in Gulf exempt from I-T: FM

New Delhi, Apr 1 (PTI) Finance Minister Nirmala Sitharaman on Thursday said salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India. FM’s office tweeted: More...

By Ila Choudhary On Thursday, March 4th, 2021
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Over Rs 650 cr discrepancies found after raids on Pannu, Kashyap and others, claims IT Dept

New Delhi, Mar 4 (PTI) The Income Tax Department has detected financial irregularities of over Rs 650 crore after it raided two film production companies, two talent management companies and a leading actress, the More...

By Ila Choudhary On Tuesday, February 2nd, 2021
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Budget 2021: Govt slaps tax on interest earned on GPF contributions above Rs 2.5 lakh

New Delhi: Interest on employee contributions to GPF over Rs 2.5 lakh per annum would be taxed from April 1, 2021, a move aimed at taxing high-value depositors in the fund. Representative image Finance Minister More...

By Ila Choudhary On Saturday, December 12th, 2020
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Madras High Court quashes Income Tax proceedings against Karti Chidambaram & his wife

Chennai,Dec 12 (PTI) The Madras High Court has quashed the Income Tax proceedings initiated against Karti Chidambaram, son of former Union Finance Minister P Chidambaram, and his wife over alleged non-disclosure More...

By Manisha Sen On Tuesday, October 20th, 2020
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Income Tax survey to be conducted only after nod from high-ranked officers: CBDT

New Delhi, Oct 20 (PTI) Income tax surveys to collect information for scrutiny assessment will be undertaken by the tax deducted at source (TDS) directorate only after approval from principal chief commissioner More...

By Ila Choudhary On Tuesday, September 1st, 2020
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I-T authorities can share info with scheduled commercial banks: CBDT

New Delhi, Sep 1 (PTI) The CBDT has said the income tax authorities can share information with scheduled commercial banks, a move that would ease the lenders” hassle of deciding TDS deductibility on various More...

By Ila Choudhary On Sunday, June 7th, 2020
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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...

By Ila Choudhary On Wednesday, May 27th, 2020
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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...

By Ila Choudhary On Tuesday, March 31st, 2020
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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...

By Manish Sen On Wednesday, March 4th, 2020
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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...