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Tag "income tax"

Rationalising income tax, lowering Customs duties among suggestions to Centre

Rationalising income tax, lowering Customs duties among suggestions to Centre

🕔11:05, 29.Nov 2022

New Delhi, Nov 28 (IANS) Rationalisation of income tax, fiscal consolidation, lowering of Customs duties, developing a mechanism for green certification to help micro small and medium enterprises (MSMEs) and introduction of an urban employment guarantee programme to boost employment generation

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CBDT extends deadline for filing returns till Nov 7

CBDT extends deadline for filing returns till Nov 7

🕔19:34, 26.Oct 2022

New Delhi, Oct 26 (IANS) The Central Board of Direct Taxes (CBDT) on Wednesday extended the due date for furnishing income tax returns for assessment year 2022-23 to November 7 for certain categories of assessees. The earlier due date was October

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Gross direct tax collections rise 30% in 2022-23, net direct tax collections up 23%

Gross direct tax collections rise 30% in 2022-23, net direct tax collections up 23%

🕔15:10, 18.Sep 2022

New Delhi, Sep 18 (IANS) Gross direct tax collections till 2022-23 as on September 17 stood at Rs 8.36 lakh crore, witnessing a growth of 30 per cent over collections of corresponding period of last year. Net direct tax collections stood

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Aiming decriminalisation of offences, CBDT issues revised guidelines for compounding

Aiming decriminalisation of offences, CBDT issues revised guidelines for compounding

🕔21:18, 17.Sep 2022

Aiming decriminalisation of offences, the Central Board of Direct Taxes (CBDT) on Saturday issued revised guidelines for compounding of offences under the Income Tax Act, 1961 with reference to various offences covered under its prosecution provisions. New Delhi, Sep 17

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41% income taxpayers yet to file IT return, 10% facing tech glitches

41% income taxpayers yet to file IT return, 10% facing tech glitches

🕔17:19, 28.Jul 2022

New Delhi, July 28 (IANS) As the deadline to file Income tax returns inches closer, 41 per cent of Indians who qualify to file the return are yet to file their papers for FY 2021-22, 22 per cent say it is

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Net direct tax collection reaches highest-ever figure in FY 22

Net direct tax collection reaches highest-ever figure in FY 22

🕔21:44, 26.Apr 2022

The net direct tax collections (income tax and corporate tax) reached an all time high of Rs 14.09 lakh crore in financial year 2021-22 against Rs 9.45 lakh crore collections in FY 2020-21, CBDT Chairman J.B. Mohapatra said on Tuesday.

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FY22 tax collection exceeds budgetary estimate, rises to over Rs 27 lakh cr

FY22 tax collection exceeds budgetary estimate, rises to over Rs 27 lakh cr

🕔07:25, 9.Apr 2022

Accelerated economic recovery along with enhanced compliance pushed India’s FY22 tax collection to Rs 27.07 lakh crore, almost Rs 5 lakh crore above the Union budget’s estimate of Rs 22.17 lakh crore. New Delhi, April 9 (IANS) Accelerated economic recovery along

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TAXPAYERS CAN FILE UPDATED INCOME TAX RETURN WITHIN TWO YEARS

TAXPAYERS CAN FILE UPDATED INCOME TAX RETURN WITHIN TWO YEARS

🕔13:45, 1.Feb 2022

TAX RELIEF TO PERSONS WITH DISABILITY TAX DEDUCTION LIMIT ON EMPLOYER’S CONTRIBUTION TO NPS ACCOUNT OF STATE GOVERNMENT EMPLOYEES INCREASED TO 14% FROM 10% INCOME FROM VIRTUAL DIGITAL ASSETS TRANSACTIONS TO BE TAXED AT 30% NEW STEPS TO AVOID REPEAT

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Taxpayers to now get details on remittances, MF dividend in IT return form

Taxpayers to now get details on remittances, MF dividend in IT return form

🕔21:14, 27.Oct 2021

New Delhi, Oct 27 (IANS) In a bid to prevent suppression of information by taxpayers, the Income Tax department will now provide full details of their financial transactions such as foreign remittances, purchase and receipt of dividend on mutual funds and

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Over 2 cr returns filed on e-filing portal of I-T Dept

Over 2 cr returns filed on e-filing portal of I-T Dept

🕔18:41, 14.Oct 2021

New Delhi, Oct 14 (IANS) The e-filing portal of the Income Tax Department has marked receipt of more than 2 crore Income Tax returns as on 13th October 2021, a government statement released on Thursday said. The new portal was launched

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Net Direct Tax collections see 74.4% growth over pre-pandemic levels

Net Direct Tax collections see 74.4% growth over pre-pandemic levels

🕔18:28, 24.Sep 2021

New Delhi, Sep 24 (IANS) In a clear signal that the economy is on path of fast recovery post the pandemic disruptions, the government’s net direct tax collections for FY22 so far (till September 22) have grown by a staggering 74.4

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Taxpayers still need to pay interest despite extension of filing dates

Taxpayers still need to pay interest despite extension of filing dates

🕔06:35, 20.Sep 2021

New Delhi, Sep 20 The government may have extended the due date for filing Income Tax returns on account of the difficulties being reported by the taxpayers in the electronic filing of returns owing to the glitches in the Tax Portal,

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Transparent taxation most beneficial govt initiative amid pandemic: Survey

Transparent taxation most beneficial govt initiative amid pandemic: Survey

🕔06:49, 9.Sep 2021

New Delhi, Sep 9  From being cautious to being optimistic, India Inc’s business sentiments are drawing closer to pre-pandemic levels, hinting at a more robust performance in the next quarter, a Grant Thornton Bharat Survey said on Wednesday. The government’s

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I-T Dept conducts pan-India searches on prominent business group

I-T Dept conducts pan-India searches on prominent business group

🕔18:50, 25.Jul 2021

New Delhi, July 25  The Income Tax (I-T) Department has conducted a pan-India search operation on a prominent business group, which is involved in businesses in various sectors, including media, power, textiles and real estate, with a group turnover of

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Deadline for filing of foreign remittance tax forms extended

Deadline for filing of foreign remittance tax forms extended

🕔07:16, 6.Jul 2021

New Delhi, July 6  The Central Board of Direct Taxes (CBDT) has again extended the deadline for filing of income tax forms 15CA and 15CB, which are filed in terms of foreign remittances. The last date of filing the forms

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CBDT comes up with new functionality for compliance check of non-filers

CBDT comes up with new functionality for compliance check of non-filers

🕔07:40, 23.Jun 2021

New Delhi, June 23  As part of the efforts to ease the compliance burden of taxpayers, the Central Board of Direct Taxes (CBDT) has issued a new functionality that would disclose if a person is liable to pay taxes at

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Net direct tax collections for FY22 grows over 100% till mid-June

Net direct tax collections for FY22 grows over 100% till mid-June

🕔18:23, 16.Jun 2021

New Delhi, June 16  The net direct tax collections for the financial year 2021-22 have grown at a robust pace despite the disruptions caused by the second wave of the Covid-19 pandemic on the economy. According to the Finance Ministry,

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Govt further extends tax compliance timelines amid pandemic

Govt further extends tax compliance timelines amid pandemic

🕔17:13, 1.May 2021

New Delhi, May 1  In view of the severe Covid-19 pandemic and requests put forward by taxpayers, tax consultants and other stakeholders, the government has decided to provide further relief to taxpayers by extending various time limits of compliances. Accordingly,

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Middle class to gain from higher tax deductions likely in Budget 2021

Middle class to gain from higher tax deductions likely in Budget 2021

🕔20:27, 11.Jan 2021

New Delhi, Jan 11 Middle class tax payers may get a lot to cheer about the Budget proposals to be presented by Finance Minister Nirmala Sitharaman next month. Sources said that the Budget 2020-21 may take the sops announced earlier

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No more worries about late filing of returns with I-T’s ‘Jhatpat scheme’

No more worries about late filing of returns with I-T’s ‘Jhatpat scheme’

🕔07:16, 23.Dec 2020

New Delhi, Dec 23  Last minute filers of income tax returns for financial year 2019-20 (assessment year 2020-21) need not worry about completing the process in time to beat the deadline. The Income Tax Department has introduced the “Jhatpat Processing”

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