June 05, 2023 08:49 (IST)
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PM Modi to address joint session of US Congress on June 22 | Goa-Mumbai Vande Bharat Express launch ceremony cancelled after Odisha train mishap | At least 50 killed, 300 injured in Coromandel Express mishap in Odisha's Balasore, massive rescue ops underway | 'Arrest wrestling body chief by June 9 or...': Farmer leaders warn Centre | RBI issues draft directions on cyber resilience, digital payment security controls for Payment System Operators

May GST collection grows 12% YoY to Rs 1,57,090 cr

New Delhi: The gross Goods & Services Tax (GST) revenue collected in the month of May stood at Rs 1,57,090 crore, the finance ministry said on Thursday.

Govt increases the limit for tax exemption on leave encashment for non-government salaried employees

New Delhi/IBNS: The government has increased the tax exemption limit on leave encashment of non-government salaried employees from Rs 3 lakh to Rs 25 lakh.

Sept GST collection rises to Rs 1.52 lakh cr

India's GST collection rose to Rs 1.52 lakh crore in Goods and Services Tax (GST) in September, the second-highest ever collection, according to the finance ministry said on November 1.

Centre to release Rs 47,541 crore as advance installment of tax devolution to states

New Delhi/UNI: Finance Minister Nirmala Sitharaman on Thursday authorised the release of Rs 47,541 crore as an advance installment of tax devolution to states.

Tax Planning: Top 7 Ways to Save Tax Legally in India

Shyam: Rohan, I feel there is no need to work for these long hours. 

Kolkata-based legal solution firm Legal Salah plans to expand its team

Kolkata/IBNS: Legal Salah, a Kolkata-based online legal solution company which provides advice and assistance in tax and other business related matters, is planning to expand its team to reach out to more clients.

How to get tax benefits on personal loans in 2020?

You may take on a personal loan to meet immediate needs or planned expenses. Whatever the use of the funds from a loan may be, you will be required to pay interest on the principal amount. The amount you pay every month to repay the loan is referred to as an EMI. While taking a loan may be necessary, the Income Tax department does offer some relief to the borrowers.

Planning to Save Taxes? Here’s How Term Plan Can Help

Earning money has never been easy, as it takes not only hard work but also intelligent planning and patience. That is why making money is nothing short of a game. This game is also beset with tax problems that take away a large portion of your hard-earned money.

Centre rejects report by IRS officials suggesting Income Tax hike, calls it ill conceived

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. 

Tax on any gain to firms under insolvency code under hair cut be waived: ASSOCHAM to Govt.

New Delhi, Sept 13 (IBNS): Apex industry body ASSOCHAM has written to the government, seeking a slew of tax reliefs, including exemption from tax on any hair cut taken by the banks in the form of a waiver of interest accrued, for the debt -ridden companies which are sought to be revived under the Insolvency and Bankruptcy Code (IBC) .

Adhaar will help to stop tax evasion: Arun Jaitley

New Delhi, Mar 22 (IBNS): Union Finance Minister Arun Jaitley said that the new law of making Adhaar card mandatory for filing income tax returns will help to stop tax evasion, in Lok Sabha on Wednesday.

Finance Minister reduces the tax rate from 10 to 5 per cent for individual income between Rs 2.5 to Rs 5 lakh

New Delhi, Feb 1 (IBNS): Union Finance Minister Arun Jaitley reduced the rate of taxation from existing 10 per cent to 5 per cent for individual assesses between income of Rs 2.5 lakhs to Rs 5 lakhs.

Govt proposes Bill to tax black money

New Delhi, Nov 28 (IBNS): After banning Rs. 500/1000 notes, the Centre on Monday proposed new rules to tax black money that are being recovered.