Page 31 - Latest Updates on Income tax
TMS Ep102: Repo rate, Revenue Sec Tarun Bajaj, markets, Rafale jets
Will RBI go for a hike in reverse repo rate? What is Tarun Bajaj's take on revenue estimates? What will marketers track in RBI's policy meeting? How capable are Rafale fighter jets? All answers here
 "TMS Ep102: Repo rate, Revenue Sec Tarun Bajaj, markets, Rafale jets")
Direct Taxes: FM Sitharaman chooses quiet consolidation in Budget
The yardsticks of stability, predictability, rationalisation and simplification define the tax proposals
 "Direct Taxes: FM Sitharaman chooses quiet consolidation in Budget")
Next year's ITR to have separate column for crypto income: Revenue Secy
Income tax return forms from next year will have a separate column for making disclosures on gains made from cryptocurrencies and paying taxes, Revenue Secretary Tarun Bajaj said on Wednesday.
 "Next year's ITR to have separate column for crypto income: Revenue Secy")
LIVE: Rahul says judiciary, EC instruments of destroying voice of states
'Not only as India's Law Minister but also as an ordinary citizen, I condemn what Rahul Gandhi has said about India's judiciary and EC. Rahul Gandhi should immediately apologise,' tweets Kiren Rijiju
 "LIVE: Rahul says judiciary, EC instruments of destroying voice of states")
Budget 2022: RSS-linked body SJM offers some praise, flags some concerns
Lauds 30% crypto tax, push for domestic investment; laments little emphasis on middle class, small-scale industry
 "Budget 2022: RSS-linked body SJM offers some praise, flags some concerns")
Union Budget 2022: Refile ITR within two years to fix errors
The Income-Tax (I-T) Department will introduce a new updated return, which is expected to help those taxpayers who have committed mistakes in filing their returns
 "Union Budget 2022: Refile ITR within two years to fix errors")
LIVE: This Budget brings more infra, more growth and more jobs, says PM
Budget 2022 LIVE updates: Finance Minister Nirmala Sitharaman presented the annual Union Budget 2022-23 in Parliament today. Follow Business Standard for Budget highlights
 "LIVE: This Budget brings more infra, more growth and more jobs, says PM")
Budget 2022: Didn't raise taxes, capex to provide more employment, says FM
FM pointed out that the 'Production Linked Incentive' scheme for 14 sectors will also be a trigger for job creation
 "Budget 2022: Didn't raise taxes, capex to provide more employment, says FM")
What are the new and old income tax regimes?
n the Union Budget 2020, Finance Minister Nirmala Sitharaman had introduced a new tax regime. Our next report presents the difference in tax rates between the new regime and the old regime
 "What are the new and old income tax regimes?")
TMS Ep98: Economic Survey 2022, Air India, markets, income tax regimes
What are the highlights of Economic Survey 2022? What are the challenges for Tata after Air India acquisition? Will markets see a Budget-day rally? What are the different tax regimes? All answers here
 "TMS Ep98: Economic Survey 2022, Air India, markets, income tax regimes")
Budget 2022: Expectations on changes in income-tax slabs and rates
Union Budget 2022-23: Expectations on changes in income tax slabs and rates
 "Budget 2022: Expectations on changes in income-tax slabs and rates")
Budget 2022: Key sectoral expectations from Indirect Tax perspective
Expectations continue to circle economic recovery, ease of compliance and kick-start investment cycle to transit domestic economy into a higher growth orbit while remaining inclusive and sustainable
 "Budget 2022: Key sectoral expectations from Indirect Tax perspective")
Banks pitch for reduction of tax-free fixed deposit tenure to 3 years
Banks have made a case for lowering fixed deposit (FD) tenure to three years for availing tax benefits, in line with mutual fund products like equity-linked savings scheme (ELSS)
 "Banks pitch for reduction of tax-free fixed deposit tenure to 3 years")
Budget 2022: Tax rebates in Budget for realty vital for salaried class
Currently, one-third of India's population reside in cities and it is estimated to go up to 50% by 2030
 "Budget 2022: Tax rebates in Budget for realty vital for salaried class")
Record number of searches in FY22 as tax offences get money laundering tint
With three months still to go for the year to end, total 'undisclosed income' is about Rs 32,000 cr, far eclipsing the FY19 level of Rs 18,600 cr
 "Record number of searches in FY22 as tax offences get money laundering tint")
Deadline to file corporate income-tax returns, audit extended
Assessment Year 2021-22 is for income earned in the financial year 2020-21
How the Centre plans to use tax data to settle social justice issues
The govt committee on EWS might have set the template for future; EWS limits and income tax exemption limits are now twinned, if the Supreme Court accepts the panel's report
 "How the Centre plans to use tax data to settle social justice issues")
I-T refunds of Rs 1.50 trn issued till January 3 this fiscal year
This includes 1.1 crore refunds of Assessment Year 2021-22 amounting to Rs 21,323.55 crore
 "I-T refunds of Rs 1.50 trn issued till January 3 this fiscal year")
IT raids on 2 cellphone firms find Rs 1,400-crore understating of profit
Evidence has emerged that the two companies could be under-stating taxable profit by more than Rs 1,400 crore.
 "IT raids on 2 cellphone firms find Rs 1,400-crore understating of profit")
Cryptocurrency exchange WazirX under lens for evading Rs 40 crore in taxes
According to the CBIC, the matter relates to WazirX launching its own currency, but not paying GST on it.
 "Cryptocurrency exchange WazirX under lens for evading Rs 40 crore in taxes")