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...
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...
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...
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...
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...
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...
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...