Page 41 - Income Tax

Tax sops to help firms clear unsold housing units; boost demand: Realtors

For homebuyers, it is a clear added financial benefit to round off the existing offers and discounts

15th FC submits report to President, keeps tax devolution to states at 41%

Report, submitted on Monday, addresses fears of southern states on population criteria

Modi to inaugurate office-cum-residential complex of I-T Appellate Tribunal

Income Tax Appellate Tribunal, also known as ITAT, is an important statutory body in the field of direct taxes and its orders are accepted as final, on findings of fact

No relief in interest levied: Don't wait until last minute to file ITR

Interest charged under Section 234A will increase if you delay

Bihar elections: I-T raids BJP's game to corner Nitish, says RJD leader

The opposition RJD on Saturday claimed that the income tax raids on certain contractors due to the alleged scam in the tap water supply project were meant to corner Chief Minister Nitish Kumar

Rs 1.27 trn I-T refunds made to individuals, businesses: Finance secretary

The income tax department now has a fully automated system of refunds payment directly going into the bank accounts of the taxpayers without manual intervention

I-T exemption under LTC cash voucher scheme: All you need to know

The Income Tax Department has extended the I-T exemption available under the LTC cash voucher scheme to employees of state governments, state-owned enterprises and private sector

People opting for lower tax regime not eligible for LTC stimulus: Govt

LTC incentive expanded to employees of the private sector, the public sector units and state governments.

Receiving pricey diwali gifts from your non-relatives will attract taxes

Section 2 (24) of the Income-Tax (I-T) Act deals with gifts received that will be treated as a person's income, while Section 56 (2) deals with both the taxation and exemptions on them

Taxpayers can make payments under 'Vivad se Vishwas' scheme till March 31

Finance secretary A B Pandey reviewed the progress under the scheme at a high-level meeting of senior officers through video conferencing

I-T survey to be conducted only after approval of senior officers: CBDT

The income tax department on Friday issued new guidelines to restrict intrusive or coercive action for recovery of tax demand by Assessing Officer (AO)/Tax Recovery Officer

I-T department keeps tolerance range for transfer pricing unchanged

This implies that there will be no taxation relief for businesses dealing in related-party transactions

PHDCCI chief Sanjay Aggarwal wants highest income tax rate cut to 25%

His comment was in contrast to economist Joseph Stiglitz's, who wanted the rich to be taxed more under the current circumstances

Donald Trump paying $750 in income tax shows why he's a billionaire

His net worth is based chiefly on the value of his office and commercial property holdings, minus debts that were already known

Trump's firms paid $750 in taxes in US, $145,400 in India in 2017: NYT

Speaking at a news conference at the White House, Trump dismissed the report as fake news and said he has paid taxes, though he gave no specifics

Top revelations from Donald Trump's decade-long hidden tax information

It is important to remember that the returns are not an unvarnished look at Trump's business activity

Scrip-wise info in ITR must only for those seeking LTCG exemption: CBDT

Direct tax body denies reports that stock or day traders are required to furnish scrip wise details in return of income for AY 2020-21

3/4th of demand raised by I-T after searches not upheld, says CAG

This was because additions were made related to transactions based on the documents found, which were disclosed by the assessee

Faceless I-T appeal system kicks off today, leaves out fraud and evasion

FinMIn says will benefit both assessees and I-T department, critics say personal hearing required in complex cases

In pics: All about faceless income tax assessment starting from today

While Faceless Assessment and Taxpayers Charter came in force from August 13, income-tax appeals are all set to go faceless from today, September 25