INCOME TAX DEPT
View: Sitharaman must stoke optimism in Budget 2020
There is one thing Sitharaman's upcoming Budget should focus on, bringing back optimism.
Toyota seeks scrappage policy, income tax benefit on purchase of all kinds of vehicles
Additionally, another thrust area would be to extend t...
Govt stares at tax shortfall of Rs 2 lakh crore; little room for income tax cut
As the Budget draws near, the odds for a personal income tax ...
I-T refunds of Rs 1.7 lakh cr to hurt FY20 direct tax mop-up
Refunds have increased largely due to ease of online return filing and pre-filled form facility along with Aadhaar one-time-password authentication. Combined with a 10% increase in personal tax collections, this makes for a notable increase in refunds. Gross collections stood at Rs 9 lakh crore this year against Rs 9.11 lakh crore in the same period last year.
Tweet Buster: LTCG relief, income-tax cut two key demands of market mavens
It will be a tough task for Nirmala Sitharaman to please all when she presents Budget on Feb 1.
20% TDS if employee doesn’t share PAN or Aadhaar: I-T dept
Centre had amended the law to make sharing of Aadhaar must in case someone does not have a PAN.
What is the tax liability on the profit I have made from selling a plot of land?
If your taxable income for a given financial year exceeds the basic tax exemption limit, you will have to pay tax and file a return of income to report the capital gain and the tax paid thereon.
Income tax dept warns taxpayers of phishing mails; lists out genuine senders
Digital frauds are on the rise and taxpayers too are not safe from it. To help you, the income tax department has released a list of trustworthy sources that a taxpayer should make a note of. Do not just trust any other source.
Union Budget 2020: Why income-tax cut is a bad idea
Income tax cut would be ill-timed, given the huge shortfall in revenues after the steep cut in corporate tax.
India Inc expecting budget to lower personal income tax rates
Finance Minister Nirmala Sitharaman will increase the income tax exemption limit from Rs 2.5 lakh per annum currently, majority of respondents surveyed by tax consultancy firm KPMG opined. The majority of respondents also feel that the government in the forthcoming Budget to be unveiled on February 1 will increase the standard deduction and give more incentives for housing loans.
Jewellers want cut in import duty of gold and in income tax in Budget 2020
Jewellers are expecting a reduction in import duty of gold and a cut in income tax for the common people in the upcoming Budget to spur demand. At present gold attracts an import duty of 12.5% and a GST of 3%.
Income tax cut in Budget 2020: To expect or not to expect?
As taxpayers, you and I would obviously want a reduction in the income tax rates in the upcoming Budget, that's what would make taxpayers ha...
Not in favour of lowering income tax of very high earners: Kiran Mazumdar Shaw, Biocon
Govt needs to kick start investment cycle by focussing on infrastructure investment. Extending SEZ or initiating new export incentives would...
Tax dept conducts survey on Air India's engineering arm
Income tax officials have recently turned towards the government-owned airline Air India, to check in on its subsidiary AIESL (Air India Engineering Services). The airline, which has been delaying salary payments and even GST, however, said nothing was amiss. The TDS survey was done to ensure that it was depositing the taxes deducted at source.
Cut in personal tax possible: CLSA
Any cut in income tax rates will be seen as a boost for discretionary companies.
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