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  • Congress slams Centre over Chhattisgarh raids, reminds federalism

    Congress slams Centre over Chhattisgarh raids, reminds federalism

    India | March 01, 2020 17:54 IST

    The Congress has launched an attack on the Union Government over Income Tax raids in Chhattisgarh for the past 4 days and termed it as "Coercive & Insecure Centrism".

  • Income Tax e-Filing Caution, Income Tax e-Filing Caution alert, sms, url, sms, business news, income

    Income Tax e-Filing Caution: Must check things before opening any email, url or SMS

    Business | February 28, 2020 19:12 IST

    Income Tax e-Filing Caution: Even clicking on a link can land you in trouble these days. While we file our income taxes, there are certain traps you must not fall into. These can use your personal and financial details to harm you in every possible way. The below mentioned are certain e-mail ids, SMS source codes and URLs you can trust.

  • Income Tax Declaration: Things to keep in mind if you have rented out your house

    Income Tax Declaration: Things to keep in mind if you have rented out your house

    Business | February 26, 2020 16:52 IST

    There are many sections under which one can save taxes accordingly by investing in different tax saving methods and showing income from other sources like rental property and rental income. But apart from salary, rental income or income from property is one of the most common sources of income in India which taxpayer want to add on especially the ones who are retired and have rental income as the main source of their livelihood.

  • I-T detects Rs 470 crore TDS default by Delhi-based corporate houses

    I-T detects Rs 470 crore TDS default by Delhi-based corporate houses

    Business | February 09, 2020 14:07 IST

    The Income Tax Department has detected about Rs 470 crore TDS (tax deducted at source) default by some big Delhi-based corporate houses after surveys were conducted against them recently, officials said. The department's TDS wing in Delhi has launched a special monitoring of private companies and government organisations in order to ensure that due taxes are deducted under this direct taxes category in the last quarter of this financial year that ends on March 31.

  • Income Tax, e-calculator, tax, new income tax regime, old income tax regime

    How much money you can save? This new e-calculator will answer all questions on new, old tax regime

    Business | February 19, 2020 12:26 IST

    The Income Tax department has launched an e-calculator to answer all your queries on the new vs old tax regime. People can calculate how much they will have to pay in eighter of the tax regimes, how much they can save and which scheme will be suitable for an individual.

  • Income Tax 2020: The Beginner’s Guide To Income Tax Sections & How To Save Taxes

    The Beginner’s Guide To Income Tax Sections & How To Save Taxes

    February 06, 2020 13:52 IST

    Income Tax 2020: A quick look at some of the most commonly-availed sections of the Income Tax Act which provide you tax savings. Here is beginner's guide to income tax sections and how to save taxes:

  • budget 2020, income tax slab, old tax regime, new income tax slab, standard deductions, budget 2020,

    Income Tax Return: Settling The Old vs New Tax Regime debate

    Business | February 05, 2020 15:52 IST

    Finance Minister Nirmala Sitharaman announced a new simplified tax regime for personal taxpayers. The rates under the new tax regime have the option for HUFs to pay their taxes as per the new rules with no exemptions and reduced tax rates. The new tax rates proposed by the ministry of finance are aimed at boosting the Indian economy.

  • Pensioners, job starters, entrepreneurs to gain more from

    Pensioners, job starters, entrepreneurs to gain more from IT rate cut

    Business | February 03, 2020 0:20 IST

    Opting for the new tax rates proposed in the budget could be beneficial for job-starters, pensioners, entrepreneurs and those taxpayers unable to claim available deductions and exemptions under the current tax structure, government sources said.

  • Sitharaman, NRI,

    Government has rights over NRIs' 'only' India income: FM Sitharaman

    Business | February 02, 2020 23:07 IST

    Finance Minister Nirmala Sitharaman on Sunday said the government has full sovereign right on the income generated by an NRI in India and as such he will be taxed as per Indian laws. 

  • Representative image

    Union Budget: New income tax rules to only benefit those not availing any deduction, says Crisil

    Business | February 02, 2020 22:56 IST

    Given that a large proportion of those availing deductions will not move to the new IT regime, the announcement will at best be a mild positive for taxpayers

  • income tax regime, investment,

    New income tax regime big disincentive to investment: Analysts

    Business | February 01, 2020 20:52 IST

    Tax experts and analysts on Saturday said the optionality clause in the new income tax budget proposal is a big disincentive for investment in tax-saving instruments, which will dampen the markets and have ripple effects across all asset classes, including housing.

  • EXPLAINED: Is New Income Tax slab good news for taxpayers?

    EXPLAINED: Is New Income Tax slab good news for taxpayers?

    Business | February 02, 2020 8:21 IST

    Income Tax Slabs 2020: In what is being considered as a major relief for the middle class, Finance Minister Nirmala Sitharaman on Saturday introduced new income tax slabs and rates in the Union Budget 2020 speech in Lok Sabha. However, is new income tax slabs introduced by Modi govt 'good news' for taxpayers? We try to explain.

  • Govt intends to remove all income tax exemptions in long

    Govt intends to remove all income tax exemptions in long run: Sitharaman

    Business | February 01, 2020 16:35 IST

    After slashing income tax rates for individuals on condition that they give up exemptions and deductions, Finance Minister Nirmala Sitharaman on Saturday said the government intends to remove all I-T exemptions in the long run.

  • Personal Income Tax Slab revised

    Personal Income Tax Slab revised. But wait, there's a twist

    Business | February 01, 2020 16:51 IST

    Income tax slab revised Latest News: Ushering in a new income tax regime, Union Finance Minister Nirmala Sitharaman announced cuts on Saturday as she presented Union Budget 2020. But there's a catch. Under the new proposed regime, which is optional, you will not be able to avail any deductions or exemptions that earlier allowed you to lower the amount of your salary that was taxed.

  • Income Tax Slabs revised, BIG relief to middle class | LIVE

    Income Tax Slabs revised

    Business | February 01, 2020 14:29 IST

    Finance Minister Nirmala Sitharaman on Saturday delivered major relief to tax payers by slashing tax rates and restructuring the tax slabs. Sitharaman proposed to bring a personal income tax regime, where income tax rates will be reduced, so now, person earning between Rs 5 to 7.5 lakhs will be required to pay tax at 10 per cent against current 20 per cent.

  • Beginner's Guide to Income Tax Sections and How to Save Taxes, income tax sections, Income Tax Act,

    The beginner’s guide to income tax sections & how to save taxes

    January 31, 2020 13:37 IST

    Beginner's Guide to Income Tax Sections and How to Save Taxes: A quick look at some of the most commonly-availed sections of the Income Tax Act which provide you tax savings.

  • CAIT calls for special income tax slab for traders

    CAIT calls for special income tax slab for traders

    Business | January 31, 2020 7:22 IST

    Urging the government for keeping the trading community on the priority list, the Confederation of All India Traders (CAIT) said on Thursday that the upcoming Union Budget should introduce a special income tax slab for the traders.

  • Attention employees! CBDT says 20% of your salary will be

    Attention employees! CBDT says 20% of your salary will be deducted if you don't do THIS

    Business | January 29, 2020 11:22 IST

    Are you a salaried person and earning over ₹ 2.5 lakh per annum? Then this news is important for you. The Income Tax Department has reiterated that employers must cut tax at source at 20 per cent or a higher rate if the employees do not provide PAN and Aadhaar details to the employer.

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    69 pc want tax free income to be hiked to Rs 5 lakh in the Union Budget

    Business | January 24, 2020 22:30 IST

    People are hoping that the Budget 2020 will bring some relief for the individual tax payers as well  

  • Tax Department raises GST revenue target to Rs 1.15 lakh cr

    Tax Department raises GST revenue target to Rs 1.15 lakh cr for Jan-Feb

    Business | January 17, 2020 22:14 IST

    Last month, the department had raised its GST tax collection target to Rs 1.1 lakh crore per month with Rs 1.25 lakh crore for a single month for the remaining period of this financial year while the direct tax target was to remain at Rs 13.35 lakh crore sans the corporate tax relief of Rs 1.45 lakh crore.