Income Tax

Wednesday, May 31, 2023 | Last Update : 09:45 PM IST

Nationalist Congress Party (NCP) leader and Maharashtra Deputy Chief Minister Ajit Pawar. (Image source: Twitter@AjitPawarSpeaks)

IT dept attaches properties worth Rs 1,000 cr allegedly belonging to Ajit Pawar

According to sources, one of these five properties includes Nirmal Tower situated at Nariman Point, Mumbai

02 Nov 2021 1:56 PM

Dilip Cherian | I-T filing mess: Why try to ‘fix’ a system that wasn't broken?

The question that’s hovering over Raisina Hill is, why fix something that isn’t broken? That’s a question everyone seems to be now asking

23 Jun 2021 12:00 AM

Nirmala Sitharaman's budget projections for income tax collections have gone for a toss.

Direct taxes down by nearly Rs 1 lakh crore

Tax collections fall short of annual target by nearly Rs 4 lakh crore

01 Apr 2020 9:57 PM

As per the finance ministry, Finance Minister Nirmala Sitharaman will meet stakehokder groups of 'New Economy: Start-ups, Fintech and Digital Sector' on Monday morning, and financial sector and capital market representatives later in the day. (Photo: File)

FM Sitharaman to hold pre-Budget meetings with stakeholders beginning today

FM Nirmala Sitharaman is likely to present her second Budget for the Modi 2.0 government in Parliament on February 1.

16 Dec 2019 11:16 AM

Finance Minister Nirmala Sitharaman. (Photo: File)

Budget 2020: FinMin seeks suggestions for rationalising income tax, other duties

The move is estimated to result in Rs 1.45 lakh crore in revenue loss for the government during 2019-20.

13 Nov 2019 3:09 PM

Sources said these alleged 'benami' assets were purchased by VK Sasikala by using about Rs 1,500 crore of demonetised notes and the assets were taken under fictitious identities. (Photo: File)

Ex-AIADMK leader V K Sasikala's assets worth Rs 1,600 crores attached

She has been questioned by tax officials in connection with this case in the past.

06 Nov 2019 9:15 AM

Personal income tax collections amounted to Rs 4.7 lakh crore last year, or 2.5 per cent of GDP.

Govt unlikely to go for income tax cut due to fiscal stress

The share of direct taxes to India's total tax revenues peaked at 61 per cent in 2009-10

30 Oct 2019 6:48 PM

Further, two crucial ordinances are on the list to be converted into law during the session. (Photo: File)

Winter Session of Parliament from November 18 to December 13

A number of bills are likely to be taken up during the Winter Session.

21 Oct 2019 12:22 PM

The undisclosed income covers unaccounted cash receipts of about Rs 409 crore. (Photo: Facebook)

I-T raids find Rs 500 crore unaccounted money from Kalki Bhagwan’s ashrams

The searches, which are still in progress, has covered premises in Chennai, Hyderabad, Bangalore.

19 Oct 2019 10:40 AM

Making the biggest recent reform of tax collection methods, the government introduced faceless assessment this month, but resistance to change from within the bureaucracy could lead to a bumpy roll-out for the new system.

Tax employee unions irked by PM Modi's switch to faceless assessment: Letter

The scheme is being implemented in a hurry without considering the concerns of the majority of the stakeholders, said the letter.

15 Oct 2019 12:04 PM

Besides raiding the office, residence and institutions belonging to Parameshwara, the I-T officials also searched the residence of his brother G Shivaprasad and personal assistant Ramesh, sources in the department said. (Photo: File)

I-T dept seizes Rs 5 cr cash in raids against former K'taka Dy CM, others

The raids are in connection with a multi-crore tax evasion case linked to the NEET exams, officials said.

11 Oct 2019 10:58 AM

Income Tax department conducted raids at several locations linked to him here on Thursday. (Photo: File)

Not aware of raids, ready to rectify if any fault found: Ex-K'taka dy CM on I-T raids

Income tax Dept has found irregularities in medical college run by a trust related to Parameshwara.

10 Oct 2019 12:16 PM

Income Tax department has found irregularities in medical college run by a trust related to Parameshwara. (Photo: ANI)

K'taka: Income Tax department raids premises linked to former CM G Parameshwara

According to sources in the Income Tax department, the raids have been conducted at around 30 premises linked to Parameshwara.

10 Oct 2019 11:56 AM

On being asked if the reduction in the corporate tax would help in the revival of the industry, the Godrej Group chairman Adi Godrej said : "It would". (Photo: File)

Govt should provide more stimulus; lower income tax: Adi Godrej

The government should take these measures, although this may increase the fiscal deficit, said the Godrej Group Chairman.

03 Oct 2019 1:10 PM

When the time arises to take a call on it (income tax relief), the government will do so. The government in the past has also increased (the limit) from Rs 2.5 lakh to Rs 5 lakh. In future, whenever the time arises, we will look into the matter, said Minister of State for Finance Anurag Singh Thakur. (Photo: File)

Govt to take call on relief in income tax at appropriate time: Thakur

There has been a clamour for raising income tax exemption limit to push demand and consumption to boost economy.

26 Sep 2019 3:36 PM

Shivakumar, MLA from Kanakapura assembly seat, is in judicial custody till October 1 and his bail plea is pending before a trial court here. (Photo: File)

HC to hear Shivakumar’s plea seeking copy of ED recorded statements on Sep 26

Shivakumar, MLA from Kanakapura assembly, is in judicial custody till Oct 1 and his bail plea is pending before a trial court here.

21 Sep 2019 10:53 AM

Finance Minister Nirmala Sitharaman said the reduction in tax rates was done by promulgating an ordinance to an amendment to the Income Tax Act.

US corporate sector hails India's move to slash income tax rate for companies

Government slashed the income tax rate for companies by almost 10 percentage points to 25.17 per cent.

21 Sep 2019 9:49 AM

India is among those few countries with high income tax rates for individuals, despite being a laggard in terms of revenue collection due to a smaller taxpayer base.

Speculation rife on possible income tax cut for individuals

After a cut in the corporate tax, speculation around an income tax cut for individual taxpayers is rife.

21 Sep 2019 2:49 AM

Income tax officials are unhappy with the mopup so far in this fiscal. They feel that the economic slowdown and the IT Department's strategy of going slow on the corporates, in the aftermath of the suicide of Cafe Coffee Day founder VG Siddhartha in July, have impacted the over all tax collections between April 1 and September 17.

Taxmen blame pause in raids to weak collections

Some key IT regions like Delhi and Bengaluru have been impacted so badly that their growth rate stood at -7.0 and -2.9 per cent, respectively.

19 Sep 2019 1:52 AM

The government announced a slew of measures in three dosages which include a special window for real estate, export incentives, bank consolidation and sops for micro, small and medium enterprises (MSMEs) and the automobile sector.

Govt mulling another booster dose to reinvigorate economy

The blue print for the stimulus is ready that would be announced by FM Nirmala Sitharaman in the next few days, an official said.

17 Sep 2019 6:39 PM

1 of 11

Columns

Abhijit Bhattacharyya

income tax