Page 31 - Income Tax

I-T searches at Hero MotoCorp CMD Pawan Munjal's premises for 'tax evasion'

About 25 locations in Delhi, Gurugram and other parts of northern India.

Not filed ITR yet? Face penalty or even jail term, say analysts

Breaching March 31 cut-off date will have assessee receive show-cause notice for undisclosed income

How to respond to a notice for reassessment of income u/s 148A of I-T Act

Check the Relied Upon Documents, or RUDs, on the basis of which the assessing officer has started the reassessment proceedings

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'

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

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

Top headlines: IDBI Bank privatisation on track; I-T searches on Huawei

Here are the top headlines on Wednesday

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

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

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

Direct Taxes: FM Sitharaman chooses quiet consolidation in Budget

The yardsticks of stability, predictability, rationalisation and simplification define the tax proposals

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.

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

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

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

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

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

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: 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