Page 25 - Income Tax

Budget 2020 ready reckoner: 10 questions you always wanted to ask

Income tax rates have been slashed, but can be availed only if the taxpayer lets go of most exemptions

New I-T regime to curb investments, will impact market negatively: Experts

The Union Budget for 2020-21 has proposed new income tax slabs and reduced the tax rate for different slabs

Budget 2020: A K Bhattacharya on major takeaways for the Indian economy

What did the finance minister have in the Budget for the Indian economy? Listen to the podcast to know

Taxpayers opting for new tax slabs to forego deductions on PF, tuition fee

As per the Budget document, an individual taxpayer opting for the new tax regime will not be entitled for deduction under 80C of the Income Tax.

Govt intends to remove all income tax exemptions in the long run: FM

Speaking at a press conference after presenting her second budget in the Lok Sabha, she said income tax cuts follow reduction in corporate tax rates in September last year

Income Tax slabs to fiscal deficit, all the key points from Budget 2020

Govt estimates economic growth this fiscal year, which ends on March 31, will slip to 5% - its weakest pace since the global financial crisis of 2008-09

Budget introduces 5 tax slabs, lower rates for those foregoing exemptions

Under the proposal, people with an annual income of Rs 5 lakh to Rs 7.5 lakh will have to pay a reduced tax rate of 10 per cent; between Rs 7.5 lakh and Rs 10 lakh 15 per cent

'Feel good' Budget may see cut in tax rate, sops for social sectors

To cushion the impact on collections, these tweaks might be accompanied by rationalisation in tax rebates

Budget 2020: CAIT calls for a special income-tax slab for traders

CAIT has been at the forefront of the protest against the discount policy on e-commerce sites

Budget 2020: Govt may consider tax sops, easier norms to boost investments

Revenue projections may be realistic this time

Budget 2020: Toyota seeks scrappage policy, income tax relief on vehicles

Toyota Kirloskar Motor (TKM) on Monday urged the government to come out with a scrappage policy for old vehicles ahead of the Budget, while also seeking to extend income tax benefits available for electric cars to other vehicles as well. "We would like the Budget to spur demand without putting any additional burden on the government exchequer; one way to achieve this is by realising the scrappage policy for all old vehicles, the draft policy of which has been shared by the government," TKM Senior Vice-President (Sales & Services) Naveen Soni said in a statement. The auto industry is willing to share its portion towards realising such scrappage policy, which will eventually have a more sustainable impact on the environment, he added. Additionally, another thrust area would be to extend the income tax benefits available for electric cars to other vehicles as well, or to extend the depreciation benefit currently available only to companies and professionals to personal customers ...

GST arrest provisions: Need for an urgent review

What GST urgently deserves is a re-orientation, for which a leaf out of the 'nudge theory' in behavioural economics may definitely help

Tweak slabs, put more money in tax payers' hands to boost consumption

Altering personal tax rates with this goal in mind will help boost consumption

'Tax evasion social injustice': CJI calls for speedy resolution of disputes

The Chief Justice said tax judiciary plays a very important role in resource mobilisation of the country and expressed concern over pendency of cases

BJP wants Sitharaman to give rural, infrastructure push in upcoming Budget

According to party, meeting fiscal deficit not the real economic issue for the government

FM Sitharaman to set realistic nominal GDP target at 9.5-10%: Report

"This year, there will be a realistic assessment of the nominal GDP," said a source.

Moral hazard

Instead of immunity, India needs simpler tax laws

Can Budget find ways to tackle tax disputes? India Inc is waiting

A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business

Faceless tax scrutiny: I-T dept completes 60,000 cases, Phase-II in works

Dept plans to include more complicated cases in second phase of scheme

Amid revenue shortage, govt begins audit of GST returns for FY 2017-18

The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three