Income Tax | The Asian Age

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While there has been no change in ITR1 or Sahaj, which is to be filled by the salaried class, some sections in ITR 2, 3, 5, 6 and 7 have been rationalised.

Income Tax return forms for AY 2019-20 notified

Individuals, firms and companies have to file returns for the income earned in 2018-19 during the course of current fiscal.

05 Apr 2019 3:46 PM

The Chief Minister said, 'When he (YS Jaganmohan Reddy) complained to the EC, within 24 hours they are acting by transferring DGP, SPs everybody. When we are complaining, no action is taken. They are delaying. Even as the Chief Minister, I don’t have any say even to do good for people or fair elections.' (Photo: ANI)

Special ED, I-T teams created to raid oppn party leaders: Chandrababu Naidu

I-T department said it has seized Rs 1.66 crore cash in raids across Karnataka. A total of 24 premises were searched.

29 Mar 2019 8:04 AM

In a pre-dawn swoop on Thursday, Income Tax officials along with CRPF personnel carried out raids at the residences of Karnataka Minor Irrigation Minister C S Puttaraju and his nephew. (Photo: File)

IT officials carry out raids on K'taka minister Puttaraju's residence

The development came a day after, Karnataka CM H D Kumaraswamy raised fears about possible raids on Cong-JD(S) functionaries in the state.

28 Mar 2019 8:57 AM

Nirav Modi and paintings that have gone for auction.

Bombay HC seeks I-T’s response on Nirav Modi’s plea against auction

The court has not granted any interim relief to the company in the petition and kept the hearing on April 1.

28 Mar 2019 6:27 AM

A retired IAS officer, Netram held a key post in Mayawati's government between 2007 and 2012. (Photo: File)

Mayawati's ex-secretary raided over tax evasion worth Rs 100 crores

The raids are still underway at 12 location in Lucknow and Delhi.

12 Mar 2019 2:09 PM

Sources stated that raids were being carried out to ascertain whether the medical practitioners were paying taxes or evading them.

I-T sleuths seize Rs 6 crore from pvt medical practioners

The raids have been carried out at six places across the state.

23 Feb 2019 2:53 AM

under section 80D one now can avail health insurance premium till Rs 25,000 as tax deductible on source (TDS) if the policy is for self, spouse, and kids. (Photo: File)

Get TDS till Rs 1 lakh under section 80D, but conditions apply

The government is offering benefits under Section 80D of the income tax act, making treatments from private hospitals affordable.

21 Feb 2019 12:42 PM

At the end of FY14, merely an amount of Rs 3.8 crore e-returns was filed. (Photo: File)

Income tax returns filings rose over 37 percent in April-January

Between April to January period of the last two financial year, the growth was more subdued at 17 percent and 20 percent, respectively.

06 Feb 2019 11:09 AM

The government has increased the funds for the tourism ministry to Rs 2,189.22 crore for 2019-20. (Photo: File)

Tax rebates for middle class to benefit travel, tourism sector: Industry

The focus on tax rebates for the middle class has brought a sigh of relief for them and now they will be able to spend more on vacations.

02 Feb 2019 6:38 PM

Union Minister Arun Jaitley. (Photo: Twitter | @ANI)

Income tax rebate a logical extension of steps taken by govt: Jaitley

Piyush Goyal on Friday announced an income tax rebate on earnings of up to Rs 5 lakh.

02 Feb 2019 11:09 AM

The task force to redraft the 50 year old Income Tax laws would submit its report by February 28, 2019.

Panel to redraft direct tax laws to focus on simplification

The recommendations of the panel is likely to be included in the final budget for 2019-20.

19 Dec 2018 4:32 PM

Private vault raided by CBI sleuths, Rs 25cr seized

This is the third major ‘locker operation’ carried out by the investigating agencies this year.

03 Dec 2018 1:13 AM

The searches are being conducted at the premises of at least four such business groups in Chennai, Coimbatore, Tirunelveli, Tuticorin and Karaikal in Tamil Nadu and Vishakhapatnam and Srikakulam in Andhra Pradesh, (Representational Image | AFP)

I-T raids on VV Minerals, its owner in Tamil Nadu, other miners in Andhra

Over 130 I-T department officials are conducting the operation with assistance from security and police personnel.

25 Oct 2018 10:11 AM

Gross direct tax collection in the first six months of the financial year grew 16.7 per cent to Rs 5.47 lakh crore, Finance Ministry said on Thursday.

Gross direct tax collection grows 16.7 pc to Rs 5.47 lakh crore in Apr-Sept

The Central Board of Direct Taxes has collected Rs 2.10 lakh crore as advance tax.

04 Oct 2018 12:39 PM

Income Tax sleuths continued searches on Friday also at the residences and offices of Telangana Congress Working President A Revanth Reddy. (Photo: File)

I-T officials seize 'key documents' from Revanth Reddy's house

A senior official of the I-T Department ruled out Revanth Reddy’s arrest as far as the Income Tax searches are concerned.

28 Sep 2018 6:40 PM

Shares of Jet Airways slumped 6 per cent on Friday amid concerns over income tax officials conducting a survey of its premises.

Jet Airways shares continue to fall; tank 6 per cent

Jet Airways said income tax officials are conducting a survey of its premises since September 19.

21 Sep 2018 7:40 PM

Tax recovery for MIDC cancelled

The income tax department had started tax collection on the leased rent amount on lands allotted by MIDC from 2006 to 2016.

21 Sep 2018 1:41 AM

Thereafter, the caller told that they had scanned the parcel and it contains valuable items, so the complainant had to pay Rs 95,600 as income tax. (Photo: PTI | Representational)

Nigerian, Indian wife arrested for duping people

A sum of Rs 6,69,000 in cash cheated from different persons was recovered from them along with other articles.

20 Sep 2018 4:59 AM

In last fiscal (2017-18), direct tax collection increased over 18 per cent to Rs 10.03 lakh crore.

Hope to cross Rs 11.5 lakh cr direct tax collection target for FY19: CBDT chief

Direct tax collections grew a paltry 4.2 per cent on year to Rs 1.54 lakh crore in April-June.

17 Sep 2018 3:33 PM

The Delhi High Court on Monday rejected Congress president Rahul Gandhi and United Progressive Alliance (UPA) chairperson Sonia Gandhi's plea challenging the Income Tax (IT) notice seeking tax reassessment for the financial year 2011-2012.

Delhi HC rejects Rahul, Sonia's plea against tax reassessment of FY 2011-12

The court noted that the IT department has the power to reopen tax proceedings.

11 Sep 2018 12:13 PM

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