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1 min read

Link PAN with Aadhaar by May 31 to avoid double TDS deduction: Income Tax Department

The income tax department on Tuesday asked taxpayers to link PAN with Aadhaar by May 31 to avoid ta…

PTI   


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2 mins read

Income Tax Department seizes record ₹1,100 crore cash and jewellery in Lok Sabha elections 2024

As per the sources, by the end of May 30th, the department had seized approximately Rs 1100 crore w…

ANI   


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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   


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2 mins read

Received a tax mismatch notice from the IT department? Here is how to set it right

An income tax mismatch notice can happen due to several reasons. In an increasingly digital world, …

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3 mins read

Last-minute rush: 5 things to do before March 31

March 31 is the end of the financial year and is often a busy time for accountants and bankers. Eve…

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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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1 min read

Here are the 10 states where the middle class pays the most in taxes and the 9 states where they pay no state income tax at all

For example, Tennessee (ranked No. 24), Texas (No. 21), and Washington (No. 5) are in the top half …

Cork Gaines   


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4 mins read

India’s Income Tax Burden: Mere 0.3% of adult population account for 76% of total personal IT receipts

Data shows that currently India has 66.5 million individuals who pay personal income tax, which is …

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3 mins read

Tax implications on income of a minor – What every parent should know

Income earned by a minor child from activities involving their skills, talent, or specialised knowl…

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1 min read

I-T dept conducts survey at some entities of Hinduja Group

The Income Tax department on Wednesday conducted a survey operation at some entities of the Hinduja…

PTI   


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1 min read

Colgate Palmolive gets Rs 170 cr Transfer Pricing Order from Income Tax authorities

Leading oral care products maker Colgate-Palmolive (India) has received a Rs 170 crore Transfer Pri…

PTI   


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3 mins read

Have foreign assets or income? Not disclosing it may lead to heavy penalties

Recently, the IT Appellate Tribunal of Mumbai imposed a penalty of ₹10 lakh per year on taxpayers w…

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1 min read

GST Council likely to levy 18% tax rate on corporate guarantees for loans

The GST Council is likely to introduce an 18 per cent tax rate on corporate guarantees extended by …

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2 mins read

Income Tax dept to hire 50 young law, accountancy grads for better litigation at ITATs

The Income Tax Department has decided to temporarily hire 50 young law and chartered accountancy gr…

PTI   


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4 mins read

Home loan tax deductions: Self-occupied vs rented, the differences

Buying a home is undoubtedly one of the biggest financial commitments in one’s life. And since it i…

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6 mins read

Are you an NRI having income in India? Here’s how you will be taxed

You are a non resident Indian (NRI) if you live abroad. More specifically, you are classified as "n…

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3 mins read

Made a mistake while filing tax returns? Here’s how to file a revised ITR

The process of revising a tax return involves making necessary updates and corrections to a previou…

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2 mins read

Revamped income tax portal: Five new features we like the most

The new and revamped income tax portal is here and a visit shows a completely new look design which…

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1 min read

Zero income tax and tight security makes Dubai one of the best destinations for a 'workation,' study finds

The "workation" is a relatively new trend that lets workers take trips while working remotely. The …

Beatrice Nolan   


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3 mins read

ITR filing: Your guide to Form 26AS and why you should check for TDS discrepancies

To check if your employer has deducted TDS, follow these steps. First, register on the Income Tax D…