Page 52 - Income Tax

In pictures: July 24 celebrated as annual Income Tax Day from this year

Income tax was introduced for the first time in India on July 24, 1860, by James Wilson to compensate for the losses made by the British during the first war of independence

New deduction on affordable homes benefits loans with longer tenures

Joint owners would not be able to get the additional tax deduction due to caveats

FAQs: 10 key things you must know about income-tax return (ITR) filing

What are income-tax returns? Must you file them? What if you did not? What are the benefits of filing an ITR? How do you get a refund for any excess tax deducted? Find answers to all your questions

$30 billion wiped off stock in 3 sessions as doubts on higher tax lingers

The realisation that the new tax rate applies not just to the super rich but also to trusts - a structure of choice for a large number of foreign funds that invest in the nation

Google, Facebook made Rs 10,000 crore; paid Rs 200 crore as tax in India

Modi government plans to bring companies that derive revenues from Indian users but pay taxes elsewhere into the corporate tax net

If it moves, tax it: Desperation creeps into Indian economic policy-making

As with its tax grab, India's desperate focus on short-term fiscal fixes risks doing greater damage in the long term

I-T dept eyes NRIs' residential status, reopens tax assessments of 5 years

The department has pulled up people who evaded tax and were sent notices a month ahead of Budget 2019

India's highest personal tax rate still lower than those in China, US: Govt

Following the increase in surcharge, the effective income tax rate for individuals with taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent

Budget impact: Super-rich tax hits 1,000 executives in corporate India

Overall, 901 listed companies had 1,720 officials earning more than Rs 1 crore in FY18

CBDT asks I-T dept to add 13 mn new filers in FY19 to widen the tax base

A new filer is defined as a person who is not included in the base at the beginning of the year

Union Budget 2019: Tax hike on rich will also hurt global companies

Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore

Budget 2019: Five key income-tax related announcements FM made today

Tax slabs left untouched; Aadhaar good enough for filing returns in case you don't have PAN

Govt raises income tax on super-rich to support state lenders, small biz

The new rate will include 25% surcharge on income between Rs 2 crore and Rs 5 crore, and 37% on income exceeding Rs 5 crore in a year

No tax liability if your income is up to Rs 9.5 lakh, but conditions apply

Standard deduction has also been raised from Rs 40,000 to Rs 50,000, besides a host of tax benefits to home buyers

Pay high income tax? Govt may call you to have tea with the PM or FM

The idea is to encourage taxpayers to willingly pay more

Income tax returns to exemptions: Expert answers your taxation questions

For taxpayers having taxable income not exceeding Rs 5 lakh, it is Rs 1,000

E-filing of tax returns saw 19% growth in AY19, says Finance Ministry

The ministry said a total of 66.8 million returns were e-filed in FY19, which included 64.9 million for AY19

In a first, income tax e-filers fall by more than 660,000 in FY19

Registered filers were just 2.7 crore at the end of March 2013 which almost doubled to 5.2 crore in March 2016 and to 6.2 crore in March 2017

Income-tax dept likely to propose using calendar as financial year

The dept has to submit its recommendations for the July Budget by May 15

CBDT identifies 20.4 million non-filers, asks I-T dept to take action

The tax department has initiated action based on the NMS database, which has identified such non-filers and dropped filers