Page 27 - Income Tax

Income tax rate cut among steps govt working on to revive growth: FM

Assuring that there will be no harassment of taxpayers, Sitharaman said the intent of the government is to further simplify taxation systems including removal of exemption.

Arbind Modi panel wanted no tax on income below Rs 6 lakh, 0.5% wealth tax

The panel proposed a 15% income-tax rate if income was Rs 6-20 lakh, and 30 per cent for above Rs 30 lakh

Govt moves Taxation Bill in Lok Sabha seeking changes in income tax law

The Bill was introduced in the House on November 25. Some provisions of the Bill are different from those of the Ordinance

Oriental India Group admits Rs 3,000-cr black money after I-T raids: CBDT

Last week, searches and surveys were conducted at over 25 premises of the group that has interests in infrastructure, mining and real estate

Tax cuts aimed at attracting investment, generating jobs: Sitharaman

The Bill seeks to replace the Ordinance which was promulgated by the President in September

Corporate tax cut impact? Direct taxes mop up down 17% in October

Brings down April-October growth to 2%, amidst slowdown

Maharashtra's Sangli royals under scanner for Swiss bank accounts

Vijaysingh and Rohini Patwardhan are listed as the only two directors of the company, while the RoC records show its status as 'active'

Paying your income tax may soon become as easy as swiping a card at a shop

UPI is an instant, real-time payment instrument developed by the National Payments Corporation of India

ITAT orders withdrawal of tax exemption to Congress-controlled Young Indian

An appeal to restore the withdrawal of exemption from income tax was made by Young Indian before the ITAT

Govt may tighten presumptive taxation norms, do away with some deductions

The slab rationalisation exercise will cost the exchequer Rs 70,000-80,000 crore

Tax evasion: I-T makes highest cash seizure of Rs 9.55 cr in Pune

The policy-making body of the department said the action was undertaken on November 4. It did not identify the entity.

Rs 12,000-cr tax blow: I-T dept cancels registration of 6 Tata Trusts

The Trusts further clarified that this order of cancellation is a culmination of the decision taken by these six Trusts in 2015 to surrender, of their own volition, their registration under the Income

Govt unlikely to cut income-tax rate amid economic slowdown, fiscal stress

The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 trillion

Job confidence, not tax cuts, will help boost consumption spend: DBS

The govet had last month announced a ten percentage point cut in corporate taxes, to get Indian levies at par with others, to spur investments.

Markets abuzz with speculation on personal income tax rate cut: Report

Markets are divided on the timing of such a move, said DBS report

Govt mulls personal I-T relief while scrapping some exemptions: Report

If the government tinkers with personal taxes, it will add to the list of measures taken in recent months to boost growth that's expanding at the slowest pace in nearly six years

Analysing revenue information-II

Tax administration advances, though continuing improvement remains paramount

Income-tax officials give thumbs down to govt's faceless assessment move

Dubbed an important initiative in tax reforms, the government launched the faceless assessment scheme in a bid to eliminate the interface between the assessee and the tax officer

Stock mkt more polarised after tax cut; 91% of gains cornered by 13 firms

RIL, HDFC Bank account for 32.4% of total BSE 500 m-cap gains since the cut in tax; 91% of gains cornered by 13 firms

Journey of faceless e-assessment starts; I-T dept identifies 58,322 cases

Though the system is called faceless, it would have a room for inviting tax payers through video conferencing