Page 34 - Latest Updates on Income tax
CBDT claims Huawei manipulated account books to reduce taxable income
The CBDT statement made multiple charges against the company including that it 'made inflated payments against receipt of technical services from its related parties outside India'
 "CBDT claims Huawei manipulated account books to reduce taxable income")
Income tax refunds of over Rs 1.83 trn issued so far this fiscal: I-T Dept
"CBDT issues refunds of over Rs 1,83,579 crore to more than 2.09 crore taxpayers from 1st Apr, 2021 to 28th Feb, 2022," the I-T department tweeted
 "Income tax refunds of over Rs 1.83 trn issued so far this fiscal: I-T Dept")
I-T refunds worth Rs 1.83 trn issued to 20.7 mn taxpayers so far in FY22
This includes personal income tax refunds of Rs 65,498 crore to over 2.04 crore assessees and corporate tax refunds of Rs 1.17 lakh crore to 2.30 lakh entities
Of 62.6 mn income tax returns filed for FY21, 45 mn processed, says CBDT
More than 5.41 crore income tax returns (ITRs) filed have been verified and 1.58 crore refunds amounting to Rs 31,857 crore for AY 2021-22 (2020-21 fiscal) have been issued
 "Of 62.6 mn income tax returns filed for FY21, 45 mn processed, says CBDT")
I-T searches on China's Huawei over tax evasion, firm says co-operating
The Income Tax department on Wednesday carried out raids at multiple premises linked to Chinese tech conglomerate Huawei across the country in connection with alleged tax evasion.
 "I-T searches on China's Huawei over tax evasion, firm says co-operating")
Top headlines: IDBI Bank privatisation on track; I-T searches on Huawei
Here are the top headlines on Wednesday
 "Top headlines: IDBI Bank privatisation on track; I-T searches on Huawei")
Now I-T department mulls action against Channi's nephew: Report
Honey was arrested during the intervening night of February 3 and 4 by the ED
 "Now I-T department mulls action against Channi's nephew: Report")
Revenue Secretary Tarun Bajaj on revenue estimates, capital gains etc
Business Standard's Arup Roychoudhury and Asit Ranjan Mishra spoke to Revenue Secretary Tarun Bajaj to know about revenue estimates and recent taxes levied on cryptocurrencies. Let's listen in
 "Revenue Secretary Tarun Bajaj on revenue estimates, capital gains etc")
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.
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")