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Submit Income Tax Audit Report Today To Avoid Penalties
The Centre has extended the deadline to file income tax audit reports for FY 2023-24. Originally set for September 30, the new October 7 deadline offers businesses and professionals a reprieve. Experts warn that further extensions are unlikely.
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Coded Diary, Broken Names: Lokayukta Probes Madhya Pradesh Liquor 'Scam'
The Madhya Pradesh Lokayukta has launched an investigation into an alleged massive liquor scam based on a confidential report from the Income Tax Department.
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Nirmala Sitharaman Rejects Reports On Changes In Income Tax Rules After Polls
Finance Minister Nirmala Sitharaman on Friday refuted a media report claiming that major changes in the income tax system would be introduced when the new government assumes office after the ongoing Lok Sabha elections.
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Centre Rejects Reports Of Change In New Income Tax Regime From April 1
The finance ministry on Monday said there is no change in the new income tax regime for individuals for the current fiscal year and individual taxpayers can opt out of the regime at the time of filing their ITR.
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Recovery Of Rs 135 Crore From Congress As Per Income Tax Laws: Report
The Congress lost income tax exemption in 2018-19 due to extensive use of cash in the electoral process, sources said, justifying that Rs 135 crore tax recovery from the party was consistent with the provisions of the Income Tax Act.
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British PM Rishi Sunak Paid More Than 500,000 Pounds In Tax Last Year
British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax in the last financial year after income from his investments dwarfed his official salary, a report by his accountants showed on Friday.
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Over 30 Lakh Audit Reports Filed On Income Tax Department Website
Over 30 lakh audit reports (TAR) were filed till September 30 on the e-filing portal of the Income Tax Department, the tax authority said on Monday.
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Income Tax Raids Bengaluru Office Of China Computer Maker Lenovo: Report
The income tax officials visited on Wednesday a factory of Chinese Personal Computer maker Lenovo Puducherry and one of its offices in Bengaluru city as part of an inquiry, two sources told Reuters.
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Income Tax Raids At Apple Supplier's Factory In Chennai: Report
The income tax department conducted searches at the premises of Apple supplier Flex in Tamil Nadu, a source said on Wednesday.
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US President Joe Biden Calls Proposal to Reduce Crypto Tax ‘Unacceptable’ Amid Debt Pressure: Report
US President Joe Biden has outrightly denied even mulling over the proposal for the US to reconsider the tax it has levied on crypto activities. The US levies 10 percent to 37 percent tax on short-term capital gains and crypto income whereas long term capital gains are taxed between zero percent to 20 percent.
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Centre Plans To Tax Netflix On Income Earned In India: Report
India is seeking to tax Netflix Inc's income earned from streaming services in the country, the Economic Times reported on Friday, citing people familiar with the matter.
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Income Tax Searches At Tamil Nadu Real Estate Firm G Square: Report
The Income Tax department on Monday launched searches at the premises of well-known Tamil Nadu-based real estate firm, G Square, official sources said.
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No Plan To Increase Capital Gains Tax For Rich: Centre
India's income tax department on Tuesday denied that there was a proposal to increase capital gains tax for top earners after Bloomberg News reported the country was reworking its direct tax laws.
-
India Weighs Higher Capital Gains Tax to Curb Inequality: Report
India is preparing an overhaul of its direct tax laws to replace a byzantine matrix of rules and help Prime Minister Narendra Modi reduce income inequality if he returns to power next year, according to people with knowledge of the matter.
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Two Dozen "Benami" Assets Of Mukhtar Ansari's Worth Rs 127 Crore Identified: Report
The Income Tax Department has identified about two dozen 'benami' assets worth Rs 127 crore of gangster-turned-politician Mukhtar Ansari in Uttar Pradesh and other locations as part of a "comprehensive" action against him and his associates, sources
-
Submit Income Tax Audit Report Today To Avoid Penalties
The Centre has extended the deadline to file income tax audit reports for FY 2023-24. Originally set for September 30, the new October 7 deadline offers businesses and professionals a reprieve. Experts warn that further extensions are unlikely.
-
Coded Diary, Broken Names: Lokayukta Probes Madhya Pradesh Liquor 'Scam'
The Madhya Pradesh Lokayukta has launched an investigation into an alleged massive liquor scam based on a confidential report from the Income Tax Department.
-
Nirmala Sitharaman Rejects Reports On Changes In Income Tax Rules After Polls
Finance Minister Nirmala Sitharaman on Friday refuted a media report claiming that major changes in the income tax system would be introduced when the new government assumes office after the ongoing Lok Sabha elections.
-
Centre Rejects Reports Of Change In New Income Tax Regime From April 1
The finance ministry on Monday said there is no change in the new income tax regime for individuals for the current fiscal year and individual taxpayers can opt out of the regime at the time of filing their ITR.
-
Recovery Of Rs 135 Crore From Congress As Per Income Tax Laws: Report
The Congress lost income tax exemption in 2018-19 due to extensive use of cash in the electoral process, sources said, justifying that Rs 135 crore tax recovery from the party was consistent with the provisions of the Income Tax Act.
-
British PM Rishi Sunak Paid More Than 500,000 Pounds In Tax Last Year
British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax in the last financial year after income from his investments dwarfed his official salary, a report by his accountants showed on Friday.
-
Over 30 Lakh Audit Reports Filed On Income Tax Department Website
Over 30 lakh audit reports (TAR) were filed till September 30 on the e-filing portal of the Income Tax Department, the tax authority said on Monday.
-
Income Tax Raids Bengaluru Office Of China Computer Maker Lenovo: Report
The income tax officials visited on Wednesday a factory of Chinese Personal Computer maker Lenovo Puducherry and one of its offices in Bengaluru city as part of an inquiry, two sources told Reuters.
-
Income Tax Raids At Apple Supplier's Factory In Chennai: Report
The income tax department conducted searches at the premises of Apple supplier Flex in Tamil Nadu, a source said on Wednesday.
-
US President Joe Biden Calls Proposal to Reduce Crypto Tax ‘Unacceptable’ Amid Debt Pressure: Report
US President Joe Biden has outrightly denied even mulling over the proposal for the US to reconsider the tax it has levied on crypto activities. The US levies 10 percent to 37 percent tax on short-term capital gains and crypto income whereas long term capital gains are taxed between zero percent to 20 percent.
-
Centre Plans To Tax Netflix On Income Earned In India: Report
India is seeking to tax Netflix Inc's income earned from streaming services in the country, the Economic Times reported on Friday, citing people familiar with the matter.
-
Income Tax Searches At Tamil Nadu Real Estate Firm G Square: Report
The Income Tax department on Monday launched searches at the premises of well-known Tamil Nadu-based real estate firm, G Square, official sources said.
-
No Plan To Increase Capital Gains Tax For Rich: Centre
India's income tax department on Tuesday denied that there was a proposal to increase capital gains tax for top earners after Bloomberg News reported the country was reworking its direct tax laws.
-
India Weighs Higher Capital Gains Tax to Curb Inequality: Report
India is preparing an overhaul of its direct tax laws to replace a byzantine matrix of rules and help Prime Minister Narendra Modi reduce income inequality if he returns to power next year, according to people with knowledge of the matter.
-
Two Dozen "Benami" Assets Of Mukhtar Ansari's Worth Rs 127 Crore Identified: Report
The Income Tax Department has identified about two dozen 'benami' assets worth Rs 127 crore of gangster-turned-politician Mukhtar Ansari in Uttar Pradesh and other locations as part of a "comprehensive" action against him and his associates, sources
