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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   


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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   


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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…

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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   


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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…

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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…

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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   


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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…

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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.…

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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…

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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 …

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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…

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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…

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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…

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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   


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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…

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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   


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'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 …

PTI   


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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…