Page 32 - Income Tax

Haven't filed returns yet? I-T offices open till Mar 31 despite festivals

While March 29 and March 30 are government holidays on account of Mahavir Jayanti and Good Friday respectively, March 31, the last day of 2017-18 financial year, is a Saturday

Pay of employees deputed abroad isn't taxable in India, TDS doesn't apply

A new AAR ruling provides relief to employees deputed overseas and who receive salaries abroad as well as in India

I-T dept issues new disclosure norms for trusts changing their objectives

The new registration process requires additional details from a trust, a certified copy of registration with the authorities and Aadhaar number of trustees, etc

Panel may pitch for lower corporate tax following US tax cuts

India's corporation tax rate stands at 30% against 21% proposed in the US tax bill

I-T raid cases not to be processed under e-assessment system: CBDT

If an assessee objects to electronic assessment, it may be 'kept on hold' for the time being

Indirect Tax: Budget on customs could have been more positive

A highly retrograde measure has been proposed in the Section 125 of the Customs Act

Refund fraud: Employees of 50 prominent Bengaluru companies under I-T net

The firms include Infosys, IBM, Vodafone and Biocon; employees accused of forming a nexus with chartered accountants

Only 1.7% Indians paid income tax in AY 2015-16: Official data

In the previous AY 2014-15, 1.91 crore, out of 3.65 crore who filed returns, had paid income tax

Faceless I-T e-assessment from next year; CBDT forms committee

The initiative was launched to reduce visits by taxpayers to I-T offices and their interface with the taxman, thereby curbing corruption.

Task force on income tax law will read it chapter by chapter: Hasmukh Adhia

The Task force will be reading 'chapter by chapter' the IT act and recommend changes

Why it pays to pay your income tax

Idea is to widen tax base; target to add 12.5 mn in FY18

Readers' Corner: Taxation

Kuldip Kumar, partner and leader, Personal Tax, PwC India, answers your questions

I-T self-assessment filings under lens

Officials say many firms, individuals are postponing advance tax payment to last quarter of FY18

Last day to file ITR: Don't forget to pay tax on rent from foreign property

If you have kept the house for your own use and not let it out, estimate the deemed rental income

Beware of fake income tax e-mails

Log into your e-filing account to check if you have any outstanding demand or refund

Aaykar Setu: Now solve I-T issues, pay taxes, apply for PAN, via CBDT app

CBDT app will also help people link their Aadhaar with Permanent Account Number (PAN)

Weed out tax evaders from smaller cities, CBDT tells Income Tax Dept

At present the I-T department has about 6-7 crore registered taxpayers

Confused about income tax return filing? Find answers to all your questions

From Aadhaar-PAN linking to efiling income tax for AY 2017-18, here is everything you need to know

Auditors' to disclose property related transactions above Rs 20,000 to I-T

The move will increase transparency in financial dealings and help check tax evasion

Income tax mop-up begins on strong footing, up 26.2% till date

I-T dept allows corporates, individuals to reel tax payout on 15th of last month of every quarter