income tax

New Delhi: Amidst the unprecedented surge in COVID-19 cases in the country, the government on Saturday extended various compliance dates for taxpayers. As per a release by the Union Finance Ministry, the deadlines were extended following…

New Delhi: A team of Income Tax (IT) department visited Robert Vadra’s residence on Monday to record his statement in connection with the benami properties case. According to officials, Vadra cited COVID-19 restrictions when asked to go to…

New Delhi: To ease the burden on taxpayers amidst the coronavirus crisis, the date for making investments or payments for claiming IT deductions for the assessment year 2020-21 has been extended from March 31 to June 30, 2020. This was…

New Delhi: Having already extended the various statutory deadlines related to income tax till June 30, the Union government has decided to revise the income tax return forms for assessment year 2020-21. The Central Bureau of Direct Taxes…

New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced reduction in personal income tax slabs. The new rates are as follows: Income            Tax Up to 5 lakh - no tax 5-7.5 lakh      - 10 per cent 7.5-10 lakh    - 15 per…

Bargarh: Police seized cash worth Rs 19 lakh from the vehicle of a businessman in Barpalli block of Odisha’s Bargarh district late on Thursday night. During the frisking the vehicles in an area bordering Balangir and Bargarh district in…

From October 1, any notice by the Income Tax department for tax claims will have to be issued with a Document Identification Number (DIN), Finance Minister Nirmala Sitharaman told reporters after a meeting with tax officials. “Unless there…

Here is good news for taxpayers. In a much-needed relief, the Finance Ministry has extended the deadline for filing income tax return (ITR) for the financial year 2018-19 by individuals to August 31, 2019, from July 31, 2019. July 31 was…

New Delhi: The Narendra Modi 2.0 dispensation is considering raising the income tax limit to Rs 3 lakh of annual income, according to a Bloomberg report. The current exemption limit is Rs 2.5 lakh. The budget will be presented on July 5.…