Page 10 - Income Tax

Budget 2022: Didn't raise taxes, capex to provide more employment, says FM

FM pointed out that the 'Production Linked Incentive' scheme for 14 sectors will also be a trigger for job creation

What are the new and old income tax regimes?

n the Union Budget 2020, Finance Minister Nirmala Sitharaman had introduced a new tax regime. Our next report presents the difference in tax rates between the new regime and the old regime

TMS Ep98: Economic Survey 2022, Air India, markets, income tax regimes

What are the highlights of Economic Survey 2022? What are the challenges for Tata after Air India acquisition? Will markets see a Budget-day rally? What are the different tax regimes? All answers here

Budget 2022: Expectations on changes in income-tax slabs and rates

Union Budget 2022-23: Expectations on changes in income tax slabs and rates

Budget 2022: Tax rebates in Budget for realty vital for salaried class

Currently, one-third of India's population reside in cities and it is estimated to go up to 50% by 2030

Budget with BS, Ep 5: Privatisation, direct tax mop-up, and Pronab Sen Q&A

Record number of searches in FY22 as tax offences get money laundering tint

With three months still to go for the year to end, total 'undisclosed income' is about Rs 32,000 cr, far eclipsing the FY19 level of Rs 18,600 cr

Deadline to file corporate income-tax returns, audit extended

Assessment Year 2021-22 is for income earned in the financial year 2020-21

How the Centre plans to use tax data to settle social justice issues

The govt committee on EWS might have set the template for future; EWS limits and income tax exemption limits are now twinned, if the Supreme Court accepts the panel's report

I-T refunds of Rs 1.50 trn issued till January 3 this fiscal year

This includes 1.1 crore refunds of Assessment Year 2021-22 amounting to Rs 21,323.55 crore

IT raids on 2 cellphone firms find Rs 1,400-crore understating of profit

Evidence has emerged that the two companies could be under-stating taxable profit by more than Rs 1,400 crore.

Cryptocurrency exchange WazirX under lens for evading Rs 40 crore in taxes

According to the CBIC, the matter relates to WazirX launching its own currency, but not paying GST on it.

No extension of ITR filing deadline; over 56 mn FY21 returns filed so far

Revenue Secretary Tarun Bajaj said ITR filing is going on 'very smoothly'

Just 3 days left for filing ITR, what happens if you miss the deadline

The due date for ITR filing for the fin ancial year 2020-21 (the assessment year 2021-22) has been extended twice

Tax department move to tax goodwill could expand in the next Budget

While the new tax is not retrospective in nature, it will impact foreign companies buying into Indian companies going ahead

Businessman Piyush Jain sold perfume compounds to 50 countries

Financial intelligence teams probing the recovery of around Rs 200 crore during raids in Kanpur-Kannuj have now found that perfume and compound businessman Piyush Jain has links across 50 countries

I-T dept detects tax evasion worth crores after raids on Maharashtra groups

The searches were carried out on December 22 at over 25 premises of the unidentified groups in Nandurbar, Dhule and Nashik districts of the state

Income Tax refunds of over Rs 1.49 trillion issued so far this fiscal

This includes 1.07 crore refunds of AY 2021-22 (fiscal ended March 31, 2021), amounting to Rs 21,021 crore

Over 46.7 mn ITRs filed for FY21 so far, 1.54 mn alone in single day

The last date for filing ITRs for 2020-21 fiscal ended March 31, 2021, by individual taxpayers is December 31

Over 45 million income tax returns for FY21 filed till December 26

The extended deadline for filing ITRs by individual taxpayers is December 31, 2021. The original deadline was July 31, 2021