Topic: Income Tax
Income Tax Slab Revamp
During the Union Budget presentation, Finance Minister Smt Nirmala Sitaraman announced that people earning up to Rs 7 lakhs need not pay taxes. Tax surcharges of the taxpayers...
Common Income Tax Return Form
A single income tax return (ITR) form was proposed for all taxpayers. The draft of the proposed form was unveiled recently by the Central Board of Direct Taxes... Income Tax Day: What are the recent Direct Tax Reforms in India?
India observes the “Income Tax Day” on July 24, every year. This day was introduced in 2010, for commemorating 150 years of Income Tax in India. The day...
Tax collections for FY 21
The Ministry of Finance recently released the tax collection figures for the financial year 2020-21. According to the ministry, the direct tax collections for the financial year 2020-21... Net Tax Collection exceeds revised estimates in FY21
In the fiscal year (2020-21) that ended on March 31, 2021, the corporate tax and income tax collected were Rs 9.45 lakh crores. About the Tax Collections The...
Budget 2021: No change in Income Tax Slabs
The Union Finance Minister, Nirmala Sitharaman, have proposed no change in the Income Tax Slabs in the Union Budget 2021. The income tax structure has been kept as...
PM-KISAN: Government initiated the process to identify illegal beneficiaries
The government’s concern over illegal beneficiaries of the PM-KISAN scheme is going to cease very soon as it has decided to identify farmers who are illegally receiving benefits....
Highlights: ‘Transparent Taxation – Honoring the Honest’ platform launched
Prime Minister Narendra Modi has launched a platform in order to honour and appreciate the honest taxpayers in the country. The ‘Transparent Taxation – Honouring the Honest’ platform...
PM to announce next set of direct tax reforms
The Prime Minister Narendra Modi is all set to launch the next set of direct tax reforms in the country keeping in mind the announcements made in the...
Govt extends deadline for filing income tax returns till September 30
The government has extended the deadline for filing income tax returns for the fiscal year 2018-19 by two months till September 30. Reason The Central Board of Direct... IT Department to Undertake Drive to Improve Return Filings for FY19
The Central Board of Direct Taxes has announced that it is going to start a campaign from July 20 till the end of the month in order to...
