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...
The Income Tax department has launched the second phase of the ‘Operation Clean Money’ to investigate over 60,000 individuals with an aim to detect black money generation post...
The Department of Post has allotted a unique pin code for the Income Tax Department’s Central Processing Centre (CPC) based in Bengaluru so as to ensure that the...
The Union Finance Ministry has announced that the General Anti Avoidance Rule (GAAR) will be effective from the 1 April, 2017. In this regard Income Tax (IT) department...
The Income Tax department is planning to implement the first phase of ‘Project Insight’ from May 2017 to monitor high value transactions, with a view to curbing the circulation of...
Direct tax is a tax directly paid to the government by the individuals or organizations on whom it is imposed. The main examples of Direct Taxes are Income...
In a key respite to the nation’s public broadcaster, the Prasar Bharati has been relieved from paying any income tax. As per one of the amendments in the...
