Income Tax
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No plan to extend deadline for filing income tax returns: Government
Business | Jul 22, 2022, 09:04 PM ISTThe Income Tax Department has prescribed 7 types of ITR forms, whose applicability will depend on the nature and amount of income and the type of taxpayer.
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Popular tax saving instruments for risk-averse individuals
Personal Finance | Jul 08, 2022, 07:58 PM ISTAs per the Income Tax Act, 1961, an individual is entitled to a deduction of Rs 1.50 lakh per annum under Section 80C.
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Buyer to deduct TDS on peer-to-peer virtual digital assets transactions, says CBDT
Business | Jun 29, 2022, 11:11 AM IST"Thus, in a peer-to-peer (ie buyer to the seller without going through an Exchange) transaction, the buyer (ie person paying the consideration) is required to deduct tax under section 194S of the Act," the CBDT said.
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I-T portal marred with another glitch on first anniversary; Infosys asked to fix issue
Income Tax | Jun 07, 2022, 03:38 PM ISTInfosys has confirmed the glitch on the e-filing portal and assured resolving the issue on priority.
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Govt notifies form for filing updated ITRs
Business | May 01, 2022, 01:16 PM ISTThe new form (ITR-U) will be available to taxpayers for filing updated income tax returns for 2019-20 and 2020-21 fiscals.
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Income Tax raids on real estate giant Hiranandani Group in Mumbai, other cities
India | Mar 22, 2022, 04:23 PM ISTI-T's raids are underway at properties linked to Hiranandani Group in Mumbai, Chennai and Bengaluru.
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I-T dept raids former NSE MD Chitra Ramkrishna
Business | Feb 17, 2022, 03:08 PM ISTChitra Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
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Budget 2022: Businesses welcome Modi govt's futuristic vision, digital-first India
Business | Feb 03, 2022, 03:48 PM ISTIntroduction of digital currency, investments in the construction of roads, railways, airports, ports, 400 new Vande Bharat trains, rural housing, and no change in income-tax slabs were among key announcements. Let's take a look at what different businesses have to say post-budget announcement.
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Budget 2022: What common man needs to know | Top points
Business | Feb 02, 2022, 08:20 AM ISTFinance Minister Nirmala Sitharaman presented Budget 2022 on Tuesday announcing that digital currency, 5G services will be launched by next year, new Vande Bharat trains but no change in tax slabs. Let's take a look at what a common man needs to know about Modi government's budget.
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Budget 2022: Why didn't government change personal income tax rates? FM Sitharaman answers
Business | Feb 01, 2022, 06:52 PM ISTThe basic personal tax exemption limit in the personal income tax was last revised in 2014. Notably, personal income tax is one of the most keenly awaited announcements in the Budget every year.
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Budget 2022: Income tax slabs unchanged
Business | Feb 01, 2022, 01:52 PM ISTAhead of the Budget, taxpayers were expecting the announcement of changes in Income Tax slabs and rates.
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Centre extends deadline for filing Income Tax returns to March 15
Business | Jan 11, 2022, 07:10 PM ISTThe decision comes as people have been facing difficulties in e-filing of Audit reports for AY 2021-22 under the IT Act, 1961
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I-T raids at properties of Akhilesh's aide & real estate businessman Ajay Chaudhary in Noida, Delhi
India | Jan 04, 2022, 02:13 PM ISTAjay Chaudhary is CMD of real estate company Ace Group. He is believed to have close contact with Samajwadi Party chief Akhilesh Yadav.
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No proposal to extend last date for ITR filing: Govt
Income Tax | Dec 31, 2021, 05:52 PM ISTThe government on Friday said there is no proposal to extend the deadline for filing income tax returns beyond its current deadline of December 31.
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Samajwadi Party reacts to I-T raids at residence of Pampi Jain, alleges only SP leaders being raided
News | Dec 31, 2021, 12:05 PM ISTAfter Piyush Jain, SP MLC Pushpraj Jain alias Pampi Jain's residence was raided by the IT-Department. Reacting to the same, Samajwadi Party has alleged that only houses of the SP leaders is being raided.
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I-T dept detects tax evasion worth crores after raids on Maharashtra groups
India | Dec 30, 2021, 01:25 PM ISTThe I-T department also seized Rs 5 crore cash and jewellery of a similar value (Rs 5 crore) during the raids on the two groups
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Kanpur-based perfume industrialist Piyush Jain arrested after Rs 200 cr found in raids
Elections | Dec 27, 2021, 09:45 AM ISTAccording to reports, Jain's house has been sealed while a thorough search is underway amid a heavy presence of tax officials. Sources say that more cash is likely to be unearthed in the said raids.
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Aaj Ki Baat: Income Tax officials use 6 machines to count Rs 150 crore cash seized in Kanpur, still counting
Aaj Ki Baat | Dec 24, 2021, 10:58 PM ISTBJP targets Owaisi for his remarks on Modi, Yogi; AIMIM chief says his remarks were twisted out of context. Punjab police suspects Babbar Khalsa hand behind Ludhiana court blast. for more watch Aaj Ki Baat with Rajat Sharma on India TV.
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Centre issues refunds of Rs 1,12,489 crore to more than 91.30 lakh taxpayers from April to Nov 2021
Income Tax | Nov 03, 2021, 04:34 PM ISTThe Income Tax department also said that refunds of Rs 33,548 crore have been issued in 89,53,923 cases and corporate tax refunds of Rs 78,942 crore have been issued in 1,75,692 cases.
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I-T department detects Rs 300 crore black money after raiding 2 Chennai financing groups
India | Sep 25, 2021, 01:06 PM IST"The searches, so far, have resulted in the detection of undisclosed income of over Rs 300 cr and unaccounted cash of Rs 9 cr has been seized," CBDT said in a statement.