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2 mins read
IT department declares 363 as cost inflation index for current fiscal
The Cost Inflation Index (CII) for fiscal year 2024-25 is 363, used by taxpayers to calculate long-…
PTI
2 mins read
Higher cash seizures being recorded by I-T dept every assembly polls: CBDT
Cash seizures made by the Income-tax department during successive assembly elections have shown a s…
PTI
1 min read
Direct tax collections rise 18% so far in current financial year
The government's gross direct tax collections have risen by 16.77 per cent to touch Rs 17.18 lakh c…
2 mins read
CBDT exempts startup investments from 21 nations including US, UK from angel tax
India’s finance ministry has announced that non-resident investors in unlisted Indian start-ups fro…
PTI
1 min read
CBDT notifies ITR forms for assessment year 2023-24
The Central Board of Direct Taxes (CBDT) has notified income-tax return forms (ITR forms) for the a…
1 min read
Central Board of Direct Taxes notifies cost inflation index for 2023-24
The cost inflation index (CII) for 2023-24 relevant to assessment year 2024-25 stood at 348, accord…
2 mins read
Two-thirds taxpayers likely to shift to new regime in 2023-24 itself: CBDT chief
The income tax rebate limit available for salaried and individual taxpayers under the new income ta…
ANI
1 min read
Pvt companies required to deduct tax at source while issuing bonus or rights shares
The implication of this clarification will be that a company in which public is not substant…
2 mins read
India issues clarifications on additional tax on cryptocurrencies
India is set to levy a 1% TDS on crypto transactions, over and above the 30% tax it already levies.…
1 min read
Infra.Market is reportedly under income tax lens for an alleged evasion of ₹224 crore
After the Income tax department recently raided a proptech startup based in Pune and Thane and foun…
3 mins read
India is monitoring crypto transactions of 700 investors – evaders could reportedly face a hefty penalty tax
The Income Tax department has shortlisted 700 crypto transactions that haven’t been declared in IT …
2 mins read
Non-residents will have to pay tax in India if transactions exceed ₹2 crore
Non-residents undertaking transactions with Indian parties will trigger taxability under the domest…
2 mins read
1 min read
Government may allow using Aadhar Card instead of PAN card
The idea has been suggested by the Ratan Watalpanel report for strengthening digital payment ecosys…
2 mins read
Deadline for tax settlements has been extended till January 31 now
On May 26, the government had notified the scheme saying it would open on June 1 and close on Decem…
1 min read
The Income Tax department is sending out thank you notes- did you get one?
The certificates are sent to taxpayers who have cleared their entire liability and have no outstand…
PTI
1 min read
Retrospective tax continues to give government sleepless nights as major investors might feel threatened by ongoing Vodafone tax dispute
The controversial retrospective tax provision has come back to worry the Indian government. After a…
1 min read
Modi softens tax blow on black money scheme by 14%
With this move, the government also clarified that it will not question the source of income from w…
2 mins read
CBDT notifies forms for firms to avail lower corporate taxes
In September 2019, the government announced a cut in base corporate tax for existing companies to …
PTI
1 min read
'Vivad se Vishwas' scheme: CBDT to review pendency of appeals
Under the proposed scheme, taxpayers willing to settle disputes shall be allowed a complete waiver …