Finance Minister Nirmala Sitharaman will present the Union Budget for 2021-22 on Monday. Sitharaman is expected to announce measures to revive the pandemic-hit economy with focus on higher spending on healthcare, infrastructure and defence.
From bringing back jobs in the market to tax deductions, there are a lot of expectations from Modi government's Budget. Although Sitharaman, in the last Budget, announced cuts in personal income tax, the government has so far pushed for a rebate on all payable taxes, and the basic tax exemption limit has remained the same.
Finance Minister Nirmala Sitharaman with the Budget team; she will present the Union Budget 2021-22 tomorrow.
The Income Tax Department on Wednesday said it has issued over Rs 1.81 lakh crore worth refunds to more than 1.74 crore taxpayers so far this fiscal year.
The Central Board of Direct Taxes (CBDT) has launched an automated dedicated e-portal on the e-filing website of the department to receive and process complaints of tax evasion, foreign undisclosed assets as well as grievances regarding benami properties.
More than 5.27 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 7, the Income Tax Department said on Friday.
The Income Tax Department on Thursday conducted surveys at the head offices of Instakart - a group company of Flipkart - and Swiggy in Bengaluru. The surveys were underway in connection with bogus Input Tax Credit (ITC), news agency ANI quoted sources as saying.
Over 5 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till January 4, the Income Tax Department said on Tuesday. The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.
Punjabi singer-actor Diljit Dosanjh has been actively supporting the ongoing farmers' protests against the new agri legislations. There were reports that the income tax department had initiated an investigation into the finances of Dosanjh after he donated Rs one crore to farmers.
The Income Tax Department officers on Monday started recording the statement of Robert Vadra in connection with a Benami properties case.
The Income Tax department extended the income tax filing dates for the thrid time. Individuals who do not have to file tax audit reports and were to file their income tax returns for FY20 by 31 December got time till January 10.
In view of the continued challenges faced by taxpayers in meeting statutory compliances due to the outbreak of COVID-19, the government on Wednesday further extends the dates for various compliances.
At the close of deadline for filing ITRs without payment of late fees for fiscal 2018-19 (assessment year (AY) 2019-20), over 5.65 crore returns were filed by taxpayers.
The deadline to file tax returns is just a few days away. If you are an SBI customer and yet to file your income tax return, you can do so for free. The State Bank of India is offering a new facility to its users to file their income tax return (ITR) for free through the YONO app.
As the deadline to file ITR by individuals nears, the tax department also urged people to file their ITR for assessment year (AY) 2020-21 early to avoid last minute rush.
Arhtiyas also known as commission agents have closed grain markets across states for 4 days against Income Tax raids on them and also in support of the farmers' protest.
The raids conducted by the Income Tax department against an Odisha-based group involved in manufacturing and trading of steel products has led to the detection of about Rs 170 crore black income and presence of bogus directors who are actually gullible daily wage earners, the CBDT said on Tuesday.
The Income-Tax Department has detected alleged unaccounted income of more than Rs 150 crore after it raided premises of "leading" coal traders of Assam, the CBDT said on Monday.
Karnataka Congress chief DK Shivakumar has been summoned by the Central Bureau of Investigation on November 25, 2020 in connection with the CBI raid that took place at his residence on October 5.
Union Finance Minister Nirmala Sitharaman on Thursday announced income tax relaxations to allow sale of primary residential units of up to Rs 2 crore value below the circle rate. So far, only 10 per cent difference between the circle rate and the agreement value was allowed.
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