New Delhi/UNI: The government on Wednesday extended the due date for furnishing of belated and revised Income Tax Return for Assessment Year 2019-20 from September 30 to November 30, in the wake of genuine difficulties being faced by the taxpayers due to the COVID-19 situation.
New Delhi/UNI: A total of 35,074 taxpayers have opted for the Direct Tax Vivad Se Vishwas Act since its enactment through Form-1 (Declaration under the scheme) that were submitted till September 8.
New Delhi/UNI: The Central Board of Direct Taxes has issued refunds worth Rs 71,229 crore to help taxpayers with liquidity during COVID-19 pandemic.
New Delhi/ IBNS: The Centre has rejected a report prepared by a group of IRS officers that suggested a 40 per cent hike in the income tax rate, a 4 per cent Covid-19 relief cess and imposing a super-rich tax, finance ministry officials have said, reported media.
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman on Saturday said her government proposed to provide the middle-class taxpayers an optional regime in order to ensure that the money is placed in the hands of people and simplify the income tax process.
New Delhi/IBNS: The government is set to introduce more measures, including rationalisation of personal income tax to revive the economy, Finance Minister Nirmala Sitharaman said on Saturday, media reported
Hyderabad, Nov 1 (UNI) In the wake of the reports that the Office of the Principal Commissioner of Income Tax, Mumbai, in its order dated October 31, 2019, cancelled the Income Tax registration of six Tata Trusts, the organization on Friday clarified that this order of cancellation is a culmination of the decision taken by these six Trusts in 2015 to surrender, of their own volition.
New Delhi: The Income Tax Department is ushering in a paradigm shift in its working by introducing faceless e-assessment to impart greater efficiency, transparency and accountability in the assessment process. There would be no physical interface between the tax payers and the tax officers.
New Delhi: For the seventh time, the government has extended the last date for linking PAN with Aadhaar card by three months, media reports said.
Chennai, Apr 15 (UNI) The Income-Tax department officials have seized Rs 14.5 crore cash after three days of raids at the PSK Engineering Construction Company in Namakkal.
New Delhi, Feb 1 (IBNS): The anti-black money measures taken by the Government during the last four and half years in the form of Black Money Law, the Fugitive Criminal Offenders Act, and Demonetisation, have brought undisclosed income of about Rs 1,30,000 crore to tax, said Finance Minister Piyush Goyal.
New Delhi, Feb 1 (IBNS): The Indian government on Friday said it has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative.
New Delhi, Feb 1 (IBNS): The Goods and Services Tax (GST) reforms has resulted in increased tax base, higher collections and ease of trade, Union Finance Minister Piyush Goyal said on Friday.
New Delhi, Feb 1 (IBNS): Under the leadership of the Prime Minister Narendra Modi, the country has witnessed its best phase of macro-economic stability, becoming the sixth largest economy in the world from being the 11th in the World in 2013-14, said Union Finance Minister Piyush Goyal on Friday.
New Delhi, Feb 1 (IBNS): The Interim Budget 2019-20 has pegged the fiscal deficit for the year 2019-20 at 3.4% of GDP.