Income Tax-act

Showing of 1 - 20 from 113 results
Income Tax-act - Total results - 113
Nirmala Sitharaman announces 25% cut in TDS/TCS for non-salary payments; ITR filing deadline extended
Business

Nirmala Sitharaman announces 25% cut in TDS/TCS for non-salary payments; ITR filing deadline extended

Finance Minister Nirmala Sitharaman said the reduction in TDS (tax deducted at source)/TCS (tax collected at source) rate would release about Rs 50,000 crore in the hands of people.

Coronavirus Outbreak: Govt extends deadline for deposits in PPF, Sukanya Samriddhi accounts; to safeguard interests of small saving depositors
Business

Coronavirus Outbreak: Govt extends deadline for deposits in PPF, Sukanya Samriddhi accounts; to safeguard interests of small saving depositors

The subscribers of PPF and SSA may now deposit their savings up to 30 June, which couldn't be deposited in 2019-20 due to lockdown in the country,

Bank of Maharashtra gets govt mandate to collect donations for PM CARES Fund; contributions to get I-T Act exemption
Business

Bank of Maharashtra gets govt mandate to collect donations for PM CARES Fund; contributions to get I-T Act exemption

One can also remit contributions directly by electronic clearing system (ECS) to the designated savings bank account of Bank of Maharashtra.

Bajaj Finance posts highest ever quarterly net profit at Rs 1,614 cr in Q3 on healthy interest income; NBFC's total income grows 41%
Business

Bajaj Finance posts highest ever quarterly net profit at Rs 1,614 cr in Q3 on healthy interest income; NBFC's total income grows 41%

Total income of the company grew 41 percent to Rs 7,026 crore for October-December of 2019-20 as against Rs 4,992 crore in year ago period, Bajaj Finance said in a regulatory filing.

Budget 2020: Govt may announce schemes for fabless chip design industry; incentives to boost manufacturing
Business

Budget 2020: Govt may announce schemes for fabless chip design industry; incentives to boost manufacturing

In the last few years, the Indian government has launched a slew of schemes to boost local manufacturing of electronic goods

Nirmala Sitharaman to hold pre-Budget consultations with stakeholders from today; focus on boosting economic growth
Business

Nirmala Sitharaman to hold pre-Budget consultations with stakeholders from today; focus on boosting economic growth

The finance ministry has already started the Budget preparation exercise, with different ministries and departments making expenditure projections

Companies opting for new lower corporate tax rate can't claim MAT credit, other deductions: CBDT
Business

Companies opting for new lower corporate tax rate can't claim MAT credit, other deductions: CBDT

The Central Board of Direct Taxes (CBDT), in a clarification, said companies will be allowed to utilise such credits only against regular taxes under the old regime

Government extends deadline to link PAN, Aadhaar from 30 September to 31 December
India

Government extends deadline to link PAN, Aadhaar from 30 September to 31 December

The deadline to link PAN with Aadhaar has been extended till 31 December, a The Central Board of Direct Taxes order said Saturday.

Direct Tax Code: Government proposes to overhaul taxation system; here is how new rules will affect you
Business

Direct Tax Code: Government proposes to overhaul taxation system; here is how new rules will affect you

Direct Tax Code appears to be a simpler version as compared to the existing income tax law, which is a welcome measure

Task force on Direct Tax Code submits report to Finance Minister Nirmala Sitharaman
Business

Task force on Direct Tax Code submits report to Finance Minister Nirmala Sitharaman

A government-appointed task force headed by CBDT member Akhilesh Ranjan on Monday submitted its report on the new Direct Tax Code, which seeks to replace the existing Income Tax Act

GJC urges govt to rollback import duty on gold; seeks comprehensive integrated policy to save gems and jewellery sector
Business

GJC urges govt to rollback import duty on gold; seeks comprehensive integrated policy to save gems and jewellery sector

Reduction in gold duty will directly reduce social and economic menace in the country, he said.

I-T Department had attached Mindtree shares held by VG Siddhartha without notice: Sources
Business

I-T Department had attached Mindtree shares held by VG Siddhartha without notice: Sources

There was no demand made by I-T Department before attaching Mindtree shares and for a “potential” tax demand of Rs 625 crore, shares worth Rs 3,000 crore were attached.

RBI savings bonds: All you need know about eligibility, issue price, limit of investment, tax rules, repayment
Business

RBI savings bonds: All you need know about eligibility, issue price, limit of investment, tax rules, repayment

On 10 January 2018, the Government of India announced the launch 7.75 percent Savings (Taxable) Bonds, 2018 to enable resident citizens/HUF to invest in a taxable bond, without any monetary ceiling.

Affordable housing: How to claim Income Tax deduction up to Rs 3.5 lakh on home loans
Business

Affordable housing: How to claim Income Tax deduction up to Rs 3.5 lakh on home loans

In Union Budget 2019, affordable housing got a further fillip with an increase in Income Tax deduction of Rs 1.5 lakh on home loans

Budget 2019: Govt proposes raising income tax exemption for NPS subscribers to 60% of corpus; new limit applicable from April 2020
Business

Budget 2019: Govt proposes raising income tax exemption for NPS subscribers to 60% of corpus; new limit applicable from April 2020

Finance Minister Nirmala Sitharaman Friday proposed to exempt from income tax 60 percent of the amount received by subscribers of National Pension System on closure of account or opting out of the scheme

Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house
India

Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house

Nirmala Sitharaman raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan for the purchase of first home worth up to Rs 45 lakh.

Union Budget 2019: India's income tax base not wide in proportion to population; taxpayers' number rises in past 5 years
Business

Union Budget 2019: India's income tax base not wide in proportion to population; taxpayers' number rises in past 5 years

Tax slabs serve as the threshold limit beyond which a person needs to pay a specific rate of tax to the government.

Union Budget 2019: It’s time to move towards parity between banks and NBFCs; gold loan should be given priority sector status
Business

Union Budget 2019: It’s time to move towards parity between banks and NBFCs; gold loan should be given priority sector status

By keeping the NBFCs out of the purview of Section 43D, our tax laws are subjecting the NBFCs to discriminatory treatment as compared to other financial institutions.

India pitches for 'significant economic presence' concept to tax global digital companies at G-20 meet
Business

India pitches for 'significant economic presence' concept to tax global digital companies at G-20 meet

Sitharaman also highlighted the need for the G-20 to keep a close watch on global current account imbalances to ensure that they do not result in excessive global volatility and tensions.

DPIIT proposes relaxation in income tax law to help startups raise funds; tax incentives for budding entrepreneurs on the cards
Business

DPIIT proposes relaxation in income tax law to help startups raise funds; tax incentives for budding entrepreneurs on the cards

The document aims at facilitating setting up of 50,000 new startups in the country by 2024 and creating 20 lakh direct and indirect employment opportunities.