Income Tax

Finance Minister Nirmala Sitharaman made five major announcements on personal income tax to benefit the middle class people during the Budget session. The New income tax regime has seen a major revamp in the income tax slab rates for…
Read More...

New Delhi: The income in personal income tax is expected to raise disposable incomes and transition the taxpayers to the new tax regime. Suman Chowdhury, Executive Director & Chief Analytical Officer, Acuite Ratings & Research…
Read More...

New Delhi:  The government is likely to enhance the income tax exemption limit to Rs 5 lakh from the existing Rs 2.5 lakh in the forthcoming budget for 2023-24, sources privy to developments said. The move, if it fructifies, may leave…
Read More...

Chennai: The Madurai Bench of the Madras High Court, on Tuesday has issued notice to the Central government on a petition seeking exemption from income tax for people with less than Rs 8 lakh annual income. A bench of Justice R Mahadevan…
Read More...

London: The UK government has U-turned on plans to scrap the 45p rate of income tax, the chancellor has confirmed, BBC reported. Kwasi Kwarteng told BBC that the proposals, announced just 10 days ago, had become "a massive distraction on…
Read More...

Central Board of Direct Taxes (CBDT), Official Language Division has released a new notification to to fill up the posts of Assistant Director (Official Language) on deputation basis (Including short term contract) in the Attached and…
Read More...

If you are making deposits aggregating more than 50 lakhs in one or more savings bank accounts in a financial year, you are required to mandatory file your returns. Recently, Central Board of Direct Taxes (CBDT) issued a notification on…
Read More...

New-Delhi: With the new fiscal year, there are many changes in the income tax rules effective from April 1. With effect from 1st April 2022, if the employee’s contribution to Provident Fund account exceeds Rs 2.5 lakh during the…
Read More...

New Delhi: The Income Tax Department has made the ‘highest’ collection in its history, CBDT chairman JB Mohapatra said, reported Times of India. Accelerated economic recovery lifted the Centre's net direct tax collections for FY22 (till…
Read More...

If you are a taxpayer and you have come under the scanner of income tax then this news is for you. The income tax department has asked the taxpayers who cases are under the scrutiny to respond by March 31, failing which the department will…
Read More...