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  IT department notifies 'Angel Tax' rules for valuing equities in start-ups: Know all about it

  Business | September 26, 2023 13:45 IST

  The amended rules also retained the five new valuation methods proposed in the draft rules for consideration received from the non-residents.

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  Is your life insurance premium above Rs 5 lakh? Check new tax rules

  August 17, 2023 15:09 IST

  As per the change, for policies issued on or after April 1, 2023, the tax exemption on maturity benefits under Section 10(10D) might be relevant in the event that the total premium paid by an individual depends on Rs 5 lakh a year.

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  Unless we get into technology, system cannot be taxpayer friendly: Finance Minister Sitharaman

  Business | July 24, 2023 23:21 IST

  India's gross direct tax collection grew 20.33 per cent to over Rs 19.68 lakh crore in 2022-23 fiscal. As per the return filing data shared by Sitharaman, the number of persons who filed income tax returns during the last four years has shown an increase.

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  Income Tax Return: 10 ITR filing mistakes to avoid, check all details here

  July 18, 2023 13:08 IST

  ITR filing: July 31 is the due date to document personal government forms for the assessment year 2023–24 (relating to FY23), so the perfect opportunity to begin the process is when you get your Form 16.

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  File ITR at earliest as govt not contemplating extension of July 31 deadline: Revenue secretary

  Business | July 16, 2023 16:18 IST

  About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for the assessment year 2022-23.

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  Tax collection in India one of the highest, says Economist Surjit Bhalla | DETAILS

  Business | May 28, 2023 18:24 IST

  Tax collection in India: While speaking to media, Bhalla said reduction in tax rate is required to accelerate the pace of economic growth.

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  Union government slashes windfall gains tax on domestic crude oil to zero | Details inside

  Business | May 16, 2023 13:56 IST

  Windfall gains tax: This is the second time that the levy, which was introduced in July last year in the form of a cess to tax supernormal gains of oil producers and fuel exporters, has been cut to nil for domestically-produced oil.

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  Not liable to pay tax? Submit form 15G/15H to avoid TDS

  April 11, 2023 16:13 IST

  ITR Filing: If your income is below the exemption limit, send in Forms 15G or 15H right away to avoid the TDS on your investments.

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  ITR e-Verification: What to do if you receive an e-verification notice?

  Technology | March 29, 2023 21:15 IST

  During the e-Verification process, taxpayers have the opportunity to electronically confirm the data that financial institutions have provided.

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  ITR filing deadline AY 2023–24: Where and how to file income tax returns – detailed instructions

  Business | March 29, 2023 12:55 IST

  ITR filing deadline: With the new assessment year starting on April 1, the filing season for Income Tax Returns (ITR) is about to begin. Taxpayers need to be aware of various aspects of ITR filing, including when to file, how to file, and which ITR form to select.

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  Here is how new ITR forms are different from old ones - all you need to know

  February 16, 2023 18:21 IST

  This year, the CBDT has released tax return forms for the Fiscal Year 2022-23 well in advance. The change will assist taxpayers in being well-prepared for reporting requirements on tax return forms.

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  United Kingdom PM Rishi Sunak fires party chairman Nadhim Zahawi over 'tax bill' allegations

  World | January 29, 2023 15:28 IST

  United Kingdom news: In a letter to Zahawi, Sunak wrote he had been forced to act after promising at the start of his tenure that his government “would have integrity, professionalism and accountability at every level”.

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  Union Budget 2023: Indian Edtech sector wants tax breaks, more funding for research

  Budget | January 18, 2023 12:09 IST

  The Indian edtech sector is demanding tax exemptions and increased allocation for research and development in the upcoming Union Budget 2023.

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  Budget 2023: What tax experts in India really want from Finance Minister Nirmala Sitharaman

  Budget | January 16, 2023 16:42 IST

  As the government prepares to release the 2023 budget, tax experts are expecting measures to boost economic growth and support small and medium-sized businesses, simplification of the tax code, measures to increase compliance and reduce tax evasion.

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  Union Budget: What are the income sources of government

  Budget | January 14, 2023 17:53 IST

  The government relies heavily on both tax and non-tax revenues to fund its operations. Non-tax revenues are the recurring income that the government earns from revenue sources other than taxes, while tax revenues are collected on income and profits.

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  World Cup 2023: BCCI could lose Rs 955 crore if ICC doesn't get tax exemption

  Cricket | October 14, 2022 17:53 IST

  As per ICC norms, the host nation is required to get tax exemption from the government for hosting tournaments organised by the global body.

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  Govt hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil

  Business | September 01, 2022 7:08 IST

  India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies.

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  Corporate tax collection up by 34 per cent between April-July

  Business | August 13, 2022 14:31 IST

  Business news: The tax department tweeted on corporate tax collection growth in April-July in an apparent attempt to counter criticism of the 2019 reduction in tax rates for companies which was alleged to have dented the Centre's revenue collections, impacting its spending on social welfare schemes.

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  GST imposed on ‘Sarais’? What Central Board of Indirect Taxes & Customs said

  Fact Check | August 04, 2022 23:53 IST

  Certain sections of the media and social media are spreading the message that GST has recently been imposed with effect from 18 July, 2022 even on ‘Sarais’ run by religious/charitable trusts. This is not true, Central Board of Indirect Taxes & Customs said.

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  Windfall tax on fuel export slashed; raised on domestic crude oil

  Business | August 03, 2022 6:58 IST

  Windfall tax on domestically produced crude oil was hiked to Rs 17,750 per tonne from Rs 17,000, a move that will hit producers like ONGC and Vedanta Ltd.