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What is Income tax
Latest Updates on Income tax
Govt's free food package, brought into effect since Covid outbreak in 2020, and RBI's lesser-than-expected dividend for FY22 might make the govt push the taxman to further augment revenues
Section 54 tax exemption should not be available if the taxpayer already owns two or more properties on the date of sale of property
Here are the top Business Standard headlines on Friday
Faceless assessment units identify issues, seek information, and analyse material to conduct assessment
The new financial year brought with it a slew of changes in the tax regime. Income arising from the transfer of virtual digital asset will invite a 30% tax. How will it impact Indian crypto industry?
The CBDT has rolled out an aggressive target and timeline to investigate tax evasion matters, especially those involving undisclosed foreign assets
A set of changes related to income tax are coming into effect from the first day of the new financial year. One of the highlights is the 30% tax on cryptocurrency gains. What are the other changes?
What is going to change for income tax payers from today? What are the challenges facing PLI scheme? Will rising interest rates and muted earnings dampen FY23? What is a Bear Trap? All answers here
The Income Tax Tribunal on Thursday upheld the case against the Gandhi family in connection with commercial immovable properties worth more than Rs 800 crore
The revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year
While India had 764,000 dollar-millionaires in 2019 by one account, just 316,000 filed tax returns declaring income of over $75,000. Large-scale I-T evasion may still be taking place, notes T N Ninan
Experts say it has now become a standard practice to pay a fine instead of maintaining books of accounts and other documents.
About 25 locations in Delhi, Gurugram and other parts of northern India.
Breaching March 31 cut-off date will have assessee receive show-cause notice for undisclosed income
Check the Relied Upon Documents, or RUDs, on the basis of which the assessing officer has started the reassessment proceedings
The CBDT statement made multiple charges against the company including that it 'made inflated payments against receipt of technical services from its related parties outside India'
"CBDT issues refunds of over Rs 1,83,579 crore to more than 2.09 crore taxpayers from 1st Apr, 2021 to 28th Feb, 2022," the I-T department tweeted
This includes personal income tax refunds of Rs 65,498 crore to over 2.04 crore assessees and corporate tax refunds of Rs 1.17 lakh crore to 2.30 lakh entities
More than 5.41 crore income tax returns (ITRs) filed have been verified and 1.58 crore refunds amounting to Rs 31,857 crore for AY 2021-22 (2020-21 fiscal) have been issued
The Income Tax department on Wednesday carried out raids at multiple premises linked to Chinese tech conglomerate Huawei across the country in connection with alleged tax evasion.