Page-2 of Topic: Income tax in India
MP government launches farm debt-waiver scheme ‘Jai Kisan Rin Mukti Yojana’
In Madhya Pradesh, Chief Minister Kamal Nath launched the Rs 50,000-crore farm debt-waiver scheme named ‘Jai Kisan Rin Mukti Yojana’ on January 16, 2019. It would benefit 55...
Akhilesh Ranjan appointed as Convenor of Task Force drafting New Direct Tax Legislation
Union Finance Ministry has appointed Akhilesh Ranjan, Central Board of Direct Taxes (CBDT) member as Convenor of Task Force that is drafting New Direct Tax Legislation (Law). He...Government of India (GoI) reduces minimum annual deposit requirement for accounts under Sukanya Samriddhi
The Government of India (GoI) has reduced the minimum annual deposit requirement for accounts under Sukanya Samriddhi Yojana from Rs. 1,000 to Rs. 250. The move will enable...GoI increases monetary threshold for filing appeals in tax disputes in courts and tribunals to bring down tax litigation in country
On July 12, the government sharply increased the monetary threshold for filing appeals in tax disputes in various courts and decided to withdraw many pending appeals to cut...Charitable Religious Institutions to be eligible for grant under scheme ‘Seva Bhoj Yojna’
On June 1, the Union Ministry of Culture has launched a new scheme called ‘Seva Bhoj Yojna’ with a total outlay of Rs. 325 Crores for Financial Years...Agricultural income (Taxation Provisions)
Section 2 (1A) of the Income Tax Act defines agricultural income as rent/revenue from land, income derived from this land through agriculture and income derived from buildings on...Aaykar Setu
The Central Board of Direct Taxes has launched an app ‘Aaykar Setu’. The app helps to file income tax return (ITR) online, locate the nearest Tax Return Prepares...The Union Government constitutes task force to draft new Direct Tax Law
The Government of India (GoI) had constituted an 8-member task force under CBDT member Arvind Modi in November 2017 to review the Income-tax Act of 1961 and to...Arbind Modi to be convener of task force to review Income Tax Act 1961
The Union Government has recently constituted a task force to review the Income Tax Act 1961 and draft a new direct tax law in consonance with current economic...Jammu and Kashmir government launched a scheme for disabled soldiers and their dependents in collaboration with NHFDC
The National Handicapped Finance and Development Corporation (NHFDC) was set up in January 1997 as a non-profit company under Union ministry of Social Justice and Empowerment. The corporation...
Income Tax Amendment Bill passed in Lok Sabha
Lok Sabha has passed the Taxation Laws (Second Amendment) Bill, 2016 in the Lok Sabha. The Bill was introduced as some of the existing provisions of the Income...
