Page 4 - Latest Updates on Income tax
Wealthy Indians reporting lower income, paying less tax: DSE study
The study found that the average taxable income reported by the bottom 10 per cent of households was more than 170 per cent of family wealth
 "Wealthy Indians reporting lower income, paying less tax: DSE study")
Centre planning rate changes in new income tax structure, says report
Individuals can currently decide which set of rates they want to be taxed under
 "Centre planning rate changes in new income tax structure, says report")
Taxes, incentives, reforms: How to read this year's Budget document
What taxpayers, senior citizens and investors should look out for in the Finance Minister's speech
 "Taxes, incentives, reforms: How to read this year's Budget document")
Rates are out of tune for higher-income levels, need revisions
India is somewhere in the middle when taxation for the upper-income bracket is considered, but leaving tax rates untouched can translate into a heavier tax burden on the population
 "Rates are out of tune for higher-income levels, need revisions")
CBI arrests Chennai Income Tax officer, CA in Rs 2,25,000 bribery case
The bureau's action came after an FIR was registered against CPWD's superintendent engineer Sanjay Chinchghare, assistant valuation officer D.Manjunathan and chartered accountant Satgurudas and Suresh
 "CBI arrests Chennai Income Tax officer, CA in Rs 2,25,000 bribery case")
Top headlines: I-T dept goes after tax arrears of over Rs 7.7 trn, PMAY-G
Business Standard brings you the top headlines at this hour
 "Top headlines: I-T dept goes after tax arrears of over Rs 7.7 trn, PMAY-G")
Income Tax searches on premises of Exel Group of companies in Hyderabad
The Income Tax department on Wednesday conducted searches on premises of Exel Group of companies in Hyderabad and neighbouring Sangareddy district for alleged irregularities in income tax payment
 "Income Tax searches on premises of Exel Group of companies in Hyderabad")
Trump's returns show how he used write-offs to pay little or no tax
The returns, which include his personal and business filings from 2015 to 2020, are the first complete look into Trump's tax records for the years he was running for office and in the White House
 "Trump's returns show how he used write-offs to pay little or no tax")
Should Indian states also levy an income tax?
An RBI report recently highlighted the grim fiscal condition of ten states. And of them, five seem to be in dire condition. What ails these states? What can be done to revive their economy?
Here is why the Centre should hand over a lower share of taxes to states
The Centre should share only 25 per cent of tax revenues with states, and the states should be allowed to impose their own income tax
New York risks losing wealthiest residents over high taxes: Official
An analysis by New York City's Independent Budget Office released this week showed that the number of city taxpayers who earned between $1 million and $5 million declined 11% in 2020
 "New York risks losing wealthiest residents over high taxes: Official")
Budget 2023: How technology may help achieve the impossible trinity
Experts have requested FM Sitharaman for a cut in income tax rates, increase in expenditure, and fiscal consolidation
 "Budget 2023: How technology may help achieve the impossible trinity")
TMS Ep323: Budget impact on taxes, Cyber attacks, Markets, Share buyback
How will Budget 2023 affect your taxes and investments? How can you protect your bank account from cyberattacks? Will 2023 belong to the Bulls or the Bears? What is a share buyback? All answers here
 "TMS Ep323: Budget impact on taxes, Cyber attacks, Markets, Share buyback")
How will Budget 2023 affect your taxes and investments?
The next Budget will be the last full-year Budget ahead of the General Elections. How are your taxes likely to be affected amid calls from the industry to extend tax benefits to the common man?
 "How will Budget 2023 affect your taxes and investments?")
Those selling products at market rate can't claim charitable status: ITAT
Hospital's appeal against income tax department rejected; it is a private company that turned into a non-profit
 "Those selling products at market rate can't claim charitable status: ITAT")
Income Tax dept reduces time for taxmen to decide on refund adjustment
The income tax department has reduced the time for tax officers to decide on adjustment of refunds against outstanding tax dues to 21 days, a move which will help avoid litigation
Indian crypto industry group writes to govt for 'strong regulations'
Bharat Web3 Association says collapse of USA's FTX highlights 'lacunae in corporate governance'
 "Indian crypto industry group writes to govt for 'strong regulations'")
Budget 2023-24 should clear confusion over options for personal income tax
From 2020-21 onwards, the Budget gave an option of a lower personal income tax regime to those earning up to Rs 15 lakh, provided they forgo some exemptions
 "Budget 2023-24 should clear confusion over options for personal income tax")
Cut in tax, schemes to generate jobs among demands in pre-Budget meet
Sitharaman held eight rounds of discussions starting with India Inc on November 21 and ending with a round of consultation with economists on Monday
 "Cut in tax, schemes to generate jobs among demands in pre-Budget meet")
Going truly federal: Why states should be allowed to levy an income tax
We need to ask why, in India, income tax is levied only by the Centre while in many other federations, the constituent units also levy it
