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NEW DELHI: ED and CBI, besides other agencies like the income tax, have together decided to make a joint submission before the Westminster court in London pledging that the agencies here in India will not file any fresh case against fugitive PNB scam accused Nirav Modi, and if at all it is necessitated anytime in…
NEW DELHI: ED and CBI, besides other agencies like the income tax, have together decided to make a joint submission before the Westminster court in London pledging that the agencies here in India will not file any fresh case against fugitive PNB scam accused Nirav Modi, and if at all it is necessitated anytime in…
A total of 24,678 taxpayers reviewed their ITRs and 5,483 taxpayers filed their belated return for the A.Y.2024-25. File. | Photo Credit: S. Siva Saravanan The Income Tax Department’s efforts to match data obtained from other countries, including Switzerland, with income tax returns (ITRs) filed in India has resulted in taxpayers reporting additional foreign assets…
New Delhi: The Finance Ministry has granted tax exemption status to the National Mission for Clean Ganga, according to a notification of the CBDT, the decision-making body for the Income Tax department and direct taxes administration. The notification also specified that the National Mission for Clean Ganga (NMCG), the implementing body of the government’s flagship…
In AY 2023-24, over 29.79 lakh ITR-Us were filed and ₹2,947 crore additional taxes paid. | Photo Credit: Getty Images/iStock Photo Over 90 lakh updated Income Tax Returns have been filed over the last four years which fetched ₹9,118 crore to the exchequer, Parliament was informed on Monday (March 24, 2025). To encourage voluntary compliance,…
Nirmala Sitharaman and Raghav Chadha NEW DELHI: A day after a faceoff occurred between finance minister Nirmala Sitharaman and MP Raghav Chadha in the Rajya Sabha, the AAP leader on Friday countered Sitharaman’s claim on the new tax relief announced in this year’s Union Budget.Contesting Sitharaman’s marginal tax relief argument she presented in the Upper…
The middle class has long been seeking income tax relief. Until now, tax benefits were primarily targeted at the lower segments of the income pyramid, while those in the middle and upper tiers of the middle class remained outside the scope of any significant relief. In fact, their tax burden increased due to changes in…
New Delhi: People Group and Shaadi.com founder Anupam Mittal praised the Union Budget’s provision to not tax salaried individuals earning up to Rs 12.75 lakh, calling it a “systemic correction”. The Shark Tank India investor said previous Budgets reduced middle class professionals to a “punching bag”, where individuals were “taxed at every turn, squeezed for…
New Delhi: Representatives from industry bodies sought reduction in personal income tax rates to ensure higher disposable income in the hands of the middle class, reduction in excise duty on fuel, and measures to provide impetus to employment-intensive sectors in their customary pre-Budget meeting with the Finance Minister on Monday. Industry bodies also raised the…
