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New Income Tax Bill Tabled In Parliament. Here's What Is Different In It
Finance Minister Nirmala Sitharaman tabled the new income tax bill - which she had mentioned in her Budget speech on February 1, and which is expected to reduce the jargon in the Income-Tax Act of 1961, making it easier to understand.
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Cabinet Clears New Income Tax Bill: Report
The Union Cabinet on Friday approved the new income tax bill, which will replace the six decades old I-T Act, sources said.
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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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Is There New, 'Simpler' Income Tax Act In Budget 2025? What Sources Said
The Direct Tax Code - a new income tax bill meant to simplify compliance for individual taxpayers - will be introduced separately, and not as part of the Union Budget to be delivered by Finance Minister Nirmala Sitharaman on Saturday morning.
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New Date To Link Aadhaar And PAN. Check Here
If a taxpayer fails to link the two documents, his/her PAN card will become inoperative. The taxpayer will not be able to furnish, intimate or quote his PAN in such cases.
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New TDS Rule From July 1 To Affect Doctors, Social Media Influencers: All You Need To Know
The Union Budget had brought in the provision of TDS to check tax revenue leakage by inserting a new section, 194R, in the Income Tax Act, 1961.
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Taxpayers Note, The Last Date To File Your Income Tax Return Is March 31. Don't Miss The Deadline
Income Tax Filing Date: If you miss the deadline, the IT department may impose a penalty.
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Budget 2021: Cap On Emoluments Must Be Raised To Rs 50,000 Under Section 80JJAA
Budget 2021: Section 80JJAA, which provides for deduction of 30 per cent on emoluments paid to new employees, can be claimed for three years. It is available upto an emolument of Rs 25,000
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Corporate Tax Cut To 25.2% To Spur Growth, Markets Celebrate: 10 Points
The centre on Friday reduced corporate tax on domestic firms in a bid to boost the sluggish economy, hurt by slowing demand across sectors, especially manufacturing that is among the highest contributors to the Gross Domestic Product (GDP). The markets immediately rose after the announcement by Finance Minister Nirmala Sitharaman, with the S&P BSE ...
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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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Key Changes In New ITR Forms For Assessment Year 2018-19
New forms incorporate changes made by the Finance Act, 2017 in the Income tax Act, 1961.
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Keep Away From Benami Transactions, Warns Income Tax Department
The department started initiating action under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1, 2016.
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Sold Properties To Buy A New House? Income Tax Ruling You Need To Know
Section 54F of Income Tax Act deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property.
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Income Tax Act Not Discriminatory, Treats All Assesses Alike: Supreme Court
The Supreme Court has termed as "fallacious" an argument that the new provision of the Income Tax Act making Aadhaar mandatory for filing income tax returns, is discriminatory and creates two classes.
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Income Tax Department Launches New Facility To Link Aadhaar With PAN
The Income Tax department has launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing Income Tax returns now.
-
New Income Tax Bill Tabled In Parliament. Here's What Is Different In It
Finance Minister Nirmala Sitharaman tabled the new income tax bill - which she had mentioned in her Budget speech on February 1, and which is expected to reduce the jargon in the Income-Tax Act of 1961, making it easier to understand.
-
Cabinet Clears New Income Tax Bill: Report
The Union Cabinet on Friday approved the new income tax bill, which will replace the six decades old I-T Act, sources said.
-
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.
-
Is There New, 'Simpler' Income Tax Act In Budget 2025? What Sources Said
The Direct Tax Code - a new income tax bill meant to simplify compliance for individual taxpayers - will be introduced separately, and not as part of the Union Budget to be delivered by Finance Minister Nirmala Sitharaman on Saturday morning.
-
New Date To Link Aadhaar And PAN. Check Here
If a taxpayer fails to link the two documents, his/her PAN card will become inoperative. The taxpayer will not be able to furnish, intimate or quote his PAN in such cases.
-
New TDS Rule From July 1 To Affect Doctors, Social Media Influencers: All You Need To Know
The Union Budget had brought in the provision of TDS to check tax revenue leakage by inserting a new section, 194R, in the Income Tax Act, 1961.
-
Taxpayers Note, The Last Date To File Your Income Tax Return Is March 31. Don't Miss The Deadline
Income Tax Filing Date: If you miss the deadline, the IT department may impose a penalty.
-
Budget 2021: Cap On Emoluments Must Be Raised To Rs 50,000 Under Section 80JJAA
Budget 2021: Section 80JJAA, which provides for deduction of 30 per cent on emoluments paid to new employees, can be claimed for three years. It is available upto an emolument of Rs 25,000
-
Corporate Tax Cut To 25.2% To Spur Growth, Markets Celebrate: 10 Points
The centre on Friday reduced corporate tax on domestic firms in a bid to boost the sluggish economy, hurt by slowing demand across sectors, especially manufacturing that is among the highest contributors to the Gross Domestic Product (GDP). The markets immediately rose after the announcement by Finance Minister Nirmala Sitharaman, with the S&P BSE ...
-
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
-
Key Changes In New ITR Forms For Assessment Year 2018-19
New forms incorporate changes made by the Finance Act, 2017 in the Income tax Act, 1961.
-
Keep Away From Benami Transactions, Warns Income Tax Department
The department started initiating action under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1, 2016.
-
Sold Properties To Buy A New House? Income Tax Ruling You Need To Know
Section 54F of Income Tax Act deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property.
-
Income Tax Act Not Discriminatory, Treats All Assesses Alike: Supreme Court
The Supreme Court has termed as "fallacious" an argument that the new provision of the Income Tax Act making Aadhaar mandatory for filing income tax returns, is discriminatory and creates two classes.
-
Income Tax Department Launches New Facility To Link Aadhaar With PAN
The Income Tax department has launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing Income Tax returns now.
