Page 25 - Latest Updates on Income tax
Delhi HC dismisses Gandhis' pleas against income tax assessment transfer
Delhi HC dismissed petitions by Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra against Income Tax department's decision to transfer their assessments to the Central Circle
 "Delhi HC dismisses Gandhis' pleas against income tax assessment transfer")
I-T searches underway at premises linked to TN Minister Senthil Balaji
Income Tax authorities launched coordinated searches across different locations in Tamil Nadu linked to state Electricity Minister V Senthil Balaji, police sources said
 "I-T searches underway at premises linked to TN Minister Senthil Balaji")
I-T dept enables filing of income tax returns 1, 4 at e-filing portal
The Income Tax department has enabled online filing of income tax returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal
 "I-T dept enables filing of income tax returns 1, 4 at e-filing portal")
RBI may cancel licence of asset reconstruction companies after I-T report
The move follows a special audit conducted by the banking regulator after the income tax (I-T) department raided the premises of these ARCs in 2021
 "RBI may cancel licence of asset reconstruction companies after I-T report")
Link PAN-Aadhaar to avoid restrictions on NPS A/C: Step-by-step guide here
PAN-Aadhaar link: The deadline to link PAN and Aadhaar cards was extended to June 30 on March 28. The earlier deadline was March 31
 "Link PAN-Aadhaar to avoid restrictions on NPS A/C: Step-by-step guide here")
Income Tax officials search Mankind Pharma's New Delhi office: Report
India's Income Tax Department is conducting searches at Mankind Pharma Ltd's office in New Delhi, a government source told Reuters on Thursday, days after the condom maker's successful public listing
 "Income Tax officials search Mankind Pharma's New Delhi office: Report")
I-T raids unearth Rs 15.3 cr cash, 10.14 kg gold in poll-bound Karnataka
The I-T officials seized 6.59 kg of gold worth Rs five crore from Hebbal, Shanti Nagar and Gandhi Nagar constituencies
 "I-T raids unearth Rs 15.3 cr cash, 10.14 kg gold in poll-bound Karnataka")
I-T dept to release draft rules for foreign investment in unlisted firms
The draft valuation rules would provide for ascertaining the fair market value (FMV) of shares of unlisted companies to levy tax on non-resident investments, an official said
 "I-T dept to release draft rules for foreign investment in unlisted firms")
IT major TCS advances generation of income tax Form 16 documents by 45 days
India's largest private sector employer, TCS, has advanced the generation of Form 16 documents for its staff by 45 days to help its over 6 lakh employees file their income tax returns in time
 "IT major TCS advances generation of income tax Form 16 documents by 45 days")
Top headlines: I-T lens on big spenders, HBO finds home in India and more
Business Standard brings you top news at this hour
 "Top headlines: I-T lens on big spenders, HBO finds home in India and more")
Income tax collection in West Bengal rises 2.4% at Rs 56,422 cr in FY23
Residents of Sikkim are exempted from paying income tax, but not for those who have gone there from other places
 "Income tax collection in West Bengal rises 2.4% at Rs 56,422 cr in FY23")
I-T dept conducts searches at premises of pvt firm with alleged DMK links
The Income Tax (IT) department is conducting searches at multiple locations in Tamil Nadu
 "I-T dept conducts searches at premises of pvt firm with alleged DMK links")
Top headlines: I-T scanner on Angel investments, Tata-Wistron deal & more
Business Standard brings you top headlines at this hour
 "Top headlines: I-T scanner on Angel investments, Tata-Wistron deal & more")
No proposal before govt on capital gains tax, says Income Tax dept
A media report earlier in the day said India is preparing an overhaul of its direct tax law, including changes in capital gains taxes
 "No proposal before govt on capital gains tax, says Income Tax dept")
CBSE exempted from paying tax with retrospective effect from FY'21 to FY'25
The exemption will continue in the current fiscal and the next financial year (2024-25)
 "CBSE exempted from paying tax with retrospective effect from FY'21 to FY'25")
Begin tax planning at start of financial year to avoid cash crunch later
Consider both income level and deductions you can avail of when choosing between old and new tax regime
 "Begin tax planning at start of financial year to avoid cash crunch later")
TMS Ep401: Income tax, brand India, mutual funds, UPI payments
How will new income tax rules affect you from April 1? How can India create a global brand? Where will MFs invest when markets bottom out? Will your UPI payments not be free anymore? Answers here
 "TMS Ep401: Income tax, brand India, mutual funds, UPI payments")
How to reset password on Income Tax e-filing portal? Step by step guide
The income tax department gives you different options to reset your Income Tax e-filing portal password. Check out the step by step guide below
 "How to reset password on Income Tax e-filing portal? Step by step guide")
Removal of LTCG tax benefits on debt MFs pushes corporate bond yields
Following govt's latest move, tax would be computed on based the investor's tax bracket; levy could be as high as 30%; Centre's step puts the tax for MF units at parity with that for bank FD
 "Removal of LTCG tax benefits on debt MFs pushes corporate bond yields")
March 31 is here: Link PAN with Aadhaar, file updated ITR & submit Form 12B
Here are some of the key ones you need to accomplish