The income tax department has changed the method to tax multinational companies and digital firms with permanent establishment in India by taking into account various factors like domestic...
The government has increased the tax-free gratuity income limit to Rs 20 lakh. This move will benefit the public as well as private sector employees. What is Gratuity?...
The Central Board of Direct Taxes (CBDT) has formed a four-member committee to look into the matter of taxation related pain points and submit its final report and...
As per the information provided by Minister of State for Finance Pon Radhakrishnan to the Lok Sabha 61 individuals who declared an income of more than Rs 100 crore...
The Union government has approved Integrated E-filing and Centralised Processing Center 2.0 Project of the Income Tax Department to enhance the efficiency of income tax administration system in...
The Reserve Bank of India (RBI) has made changes with the Gold Monetisation Scheme (GMS) to allow charitable institutions, central government entities and state government entities to deposit...
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...
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...
The Union Finance Ministry is planning to launch ‘Project Insight’ from October 2017 to monitor high value transactions and detect tax evaders using technology with a view to...
Income Tax Department (ITD) has initiated Operation Clean Money to investigate tax evaders. As a part of the operation, the government has launched a website on ‘Operation Clean Money’ operation. Salient Highlights The...
