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