Income Tax Act 1961
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What Is Direct Tax Code And How It Is Different From Income Tax Act, 1961
A set of new tax laws called the Direct Tax Code is likely to simplify compliance for taxpayers soon.
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Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
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Centre Should Desist From Amending NRI Status: Pinarayi Vijayan
Kerala Chief Minister Pinarayi Vijayan on Sunday criticised the Centre to amend the section 6 of the Income Tax Act, 1961, which stipulates conditions for determining the residential status for tax purposes in India.
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CBDT Extends Income Tax Returns Filing Deadline For J&K, Ladakh To January 31
"The Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 of the Income-tax Act, 1961 and in partial modification of CBDT's order under section 119 of the Act dated 23.07.2019, 27.09.2019 and 31.10.2019 hereby further extends the ''due-date' for filing I-T Returns/Tax Audit Reports to January 31, 2020 in respect o...
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Parliament Live Updates: Calling Pragya Thakur Terrorist Worse Than Mahatma Gandhi's Murder, Says BJP
The winter session of parliament will today consider some bills for discussion and passing. They include Taxation Laws (Amendment) Bill, 2019. Finance Minister Nirmala Sitharaman is scheduled to move that the bill further to amend the Income Tax Act, 1961, and to amend the Finance Act, 2019, be taken into consideration.
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Punjab National Bank Revises Fixed Deposit Interest Rates From Today
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961
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Post Office Time Deposit Account: Interest Rates, Tax Benefits, Other Details
Investments made under the 5-year fixed deposit account qualifies for income tax benefits under Section 80C of the Income Tax Act, 1961
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Government Releases New Income Tax Compounding Rules
CBDT has issued a revised 32-page guideline for 'compounding of offences under direct tax laws, 2019' which will be executed under the I-T Act, 1961
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Latest FD Interest Rates Paid By SBI On Deposits Up To Rs 2 Crore: Key Things To Know
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961
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From Section 80C To Section 80GG Of I-T Act: 5 Ways You Can Reduce Your Income Tax Liability
Over and above of the Rs. 1.50 lakh deduction allowed under section 80C of the Income Tax Act, 1961, one can claim an extra exemption of Rs. 50,000 by making investments in the National Pension System (NPS). An assessee can claim exemption of up to Rs. 2 lakh on the total taxable income by investing in NPS.
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NDTV Statement On Tax Demand Of Rs 436 Crores
NDTV has today received an order under section 271(1)(c) of the Income Tax Act, 1961 from the Income Tax Department levying penalty of Rs. 436.80 crores for the assessment year 2009-10.
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Accident Claims Cannot Be Subjected To TDS: Madras High Court
Counsel for the Corporation argued that as per section 194-A and 156 of the Income Tax Act,1961, interest awarded by the MACT should be subject to TDS and justified the deduction.
-
Vodafone in talks with government to resolve tax case: report
Following amendment to the I-T Act 1961 last year, the Income Tax Department had issued a letter in January to Vodafone International Holdings BV stating that the company is required to pay the tax.
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Hope to place DTC bill in Monsoon Session: Chidambaram
The code, which will replace the existing Income Tax Act, 1961, aims to rationalise tax rates to bring more people and companies under the tax net.
-
Tax residency certificate mandatory for foreign investors
The amendments to the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) said, will take effect from April 1, 2013 and will apply in relation to the assessment year 2013-14 and subsequent years.
-
What Is Direct Tax Code And How It Is Different From Income Tax Act, 1961
A set of new tax laws called the Direct Tax Code is likely to simplify compliance for taxpayers soon.
-
Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
-
Centre Should Desist From Amending NRI Status: Pinarayi Vijayan
Kerala Chief Minister Pinarayi Vijayan on Sunday criticised the Centre to amend the section 6 of the Income Tax Act, 1961, which stipulates conditions for determining the residential status for tax purposes in India.
-
CBDT Extends Income Tax Returns Filing Deadline For J&K, Ladakh To January 31
"The Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 of the Income-tax Act, 1961 and in partial modification of CBDT's order under section 119 of the Act dated 23.07.2019, 27.09.2019 and 31.10.2019 hereby further extends the ''due-date' for filing I-T Returns/Tax Audit Reports to January 31, 2020 in respect o...
-
Parliament Live Updates: Calling Pragya Thakur Terrorist Worse Than Mahatma Gandhi's Murder, Says BJP
The winter session of parliament will today consider some bills for discussion and passing. They include Taxation Laws (Amendment) Bill, 2019. Finance Minister Nirmala Sitharaman is scheduled to move that the bill further to amend the Income Tax Act, 1961, and to amend the Finance Act, 2019, be taken into consideration.
-
Punjab National Bank Revises Fixed Deposit Interest Rates From Today
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961
-
Post Office Time Deposit Account: Interest Rates, Tax Benefits, Other Details
Investments made under the 5-year fixed deposit account qualifies for income tax benefits under Section 80C of the Income Tax Act, 1961
-
Government Releases New Income Tax Compounding Rules
CBDT has issued a revised 32-page guideline for 'compounding of offences under direct tax laws, 2019' which will be executed under the I-T Act, 1961
-
Latest FD Interest Rates Paid By SBI On Deposits Up To Rs 2 Crore: Key Things To Know
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961
-
From Section 80C To Section 80GG Of I-T Act: 5 Ways You Can Reduce Your Income Tax Liability
Over and above of the Rs. 1.50 lakh deduction allowed under section 80C of the Income Tax Act, 1961, one can claim an extra exemption of Rs. 50,000 by making investments in the National Pension System (NPS). An assessee can claim exemption of up to Rs. 2 lakh on the total taxable income by investing in NPS.
-
NDTV Statement On Tax Demand Of Rs 436 Crores
NDTV has today received an order under section 271(1)(c) of the Income Tax Act, 1961 from the Income Tax Department levying penalty of Rs. 436.80 crores for the assessment year 2009-10.
-
Accident Claims Cannot Be Subjected To TDS: Madras High Court
Counsel for the Corporation argued that as per section 194-A and 156 of the Income Tax Act,1961, interest awarded by the MACT should be subject to TDS and justified the deduction.
-
Vodafone in talks with government to resolve tax case: report
Following amendment to the I-T Act 1961 last year, the Income Tax Department had issued a letter in January to Vodafone International Holdings BV stating that the company is required to pay the tax.
-
Hope to place DTC bill in Monsoon Session: Chidambaram
The code, which will replace the existing Income Tax Act, 1961, aims to rationalise tax rates to bring more people and companies under the tax net.
-
Tax residency certificate mandatory for foreign investors
The amendments to the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT) said, will take effect from April 1, 2013 and will apply in relation to the assessment year 2013-14 and subsequent years.
