Page 46 - Income Tax

Use allowance like LTA, HRA, car maintenance to reduce your tax liability

There are many of them, but only a few can be used to offset the tax burden

I-T dept issues tax refunds of Rs 1.57 trillion, up by 27.2% in 2019

In money terms, the income tax refunds have gone up by 27.2 per cent.

Best of BS Opinion: Boosting economic growth, income tax slabs, and more

Here's a collection of Business Standard Opinion pieces for the day

Simplify I-T structure

That's the way to go for improving tax base, compliance

FM hints at I-T rate cuts, more stimulus measures to boost slowing economy

Says govt is taking steps towards a harassment-free taxation regime

Income tax rate cut among steps govt working on to revive growth: FM

Assuring that there will be no harassment of taxpayers, Sitharaman said the intent of the government is to further simplify taxation systems including removal of exemption.

Arbind Modi panel wanted no tax on income below Rs 6 lakh, 0.5% wealth tax

The panel proposed a 15% income-tax rate if income was Rs 6-20 lakh, and 30 per cent for above Rs 30 lakh

Govt moves Taxation Bill in Lok Sabha seeking changes in income tax law

The Bill was introduced in the House on November 25. Some provisions of the Bill are different from those of the Ordinance

Oriental India Group admits Rs 3,000-cr black money after I-T raids: CBDT

Last week, searches and surveys were conducted at over 25 premises of the group that has interests in infrastructure, mining and real estate

Tax cuts aimed at attracting investment, generating jobs: Sitharaman

The Bill seeks to replace the Ordinance which was promulgated by the President in September

Corporate tax cut impact? Direct taxes mop up down 17% in October

Brings down April-October growth to 2%, amidst slowdown

Maharashtra's Sangli royals under scanner for Swiss bank accounts

Vijaysingh and Rohini Patwardhan are listed as the only two directors of the company, while the RoC records show its status as 'active'

Paying your income tax may soon become as easy as swiping a card at a shop

UPI is an instant, real-time payment instrument developed by the National Payments Corporation of India

ITAT orders withdrawal of tax exemption to Congress-controlled Young Indian

An appeal to restore the withdrawal of exemption from income tax was made by Young Indian before the ITAT

Govt may tighten presumptive taxation norms, do away with some deductions

The slab rationalisation exercise will cost the exchequer Rs 70,000-80,000 crore

Tax evasion: I-T makes highest cash seizure of Rs 9.55 cr in Pune

The policy-making body of the department said the action was undertaken on November 4. It did not identify the entity.

Rs 12,000-cr tax blow: I-T dept cancels registration of 6 Tata Trusts

The Trusts further clarified that this order of cancellation is a culmination of the decision taken by these six Trusts in 2015 to surrender, of their own volition, their registration under the Income

Govt unlikely to cut income-tax rate amid economic slowdown, fiscal stress

The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 trillion

Job confidence, not tax cuts, will help boost consumption spend: DBS

The govet had last month announced a ten percentage point cut in corporate taxes, to get Indian levies at par with others, to spur investments.

Markets abuzz with speculation on personal income tax rate cut: Report

Markets are divided on the timing of such a move, said DBS report