Topic: Income tax in India
K M Prasad appointed as new Principal Chief Commissioner of Income-tax (PCCIT) of National e-assessment centre
The National e-Assessment Centre (NeAC) has been set up by the Central Board of Direct Taxes (CBDT) in the national capital as part of the government’s ambitious plan...
Government Proposes Major changes in Corporate Tax Rates
The Union Minister of Finance Nirmala Sitharaman has announced big cuts in the corporate tax rate, giving a ₹1.45 lakh crore stimulus aimed at reviving private investment and... Government announces steps to boost Housing and revive Exports
As part of efforts to get the slowing down economy back to the track of growth, the Ministry of Finance has announced steps to help the nearly stalled...
PM Launches National Pension Scheme for Small Traders and Self Employed Persons
Prime Minister Narendra Modi launched the National Pension Scheme for Traders and Self Employed Persons with annual turnover not exceeding Rs 1.5 crore. About the Scheme It is...Recommendations of Task Force on Simplification of Direct Tax
The task force on simplification of direct tax legislation headed by Central Board of Direct Taxation (CBDT) member Akhilesh Ranjan has recommended major changes in personal income tax...Akhilesh Ranjan task force on Direct Tax Code submits Report to Finance Ministry
The task force, headed by CBDT member Akhilesh Ranjan, constituted by the Union government for drafting the new Direct Tax Code (DTC) has recently submitted its report to...CBDT Hikes Monetary Limits for Filing of Appeals by Income Tax Department
The Central Board of Direct Taxes (CBDT) has significantly increased the limit for the income tax department to appeal disputes in higher forums. One of the reasons behind...159th Income Tax Day (ITD-2019)
The Central Board of Direct Taxes (CBDT) has celebrated the 159th Income Tax Day i.e. Aaykar Diwas on 24th July 2019. The week preceding the Aaykar Diwas 2019...
8.80 Million turns out to be ‘stop filers’ in Demonetisation year
Income Tax Returns have seen a upward surge in tax compliance aftermath of demonetisation and GST introduction. However according to a report, around 8.80 million taxpayers turned out...
