Income Tax Act

Budget 2022: Taxing time for common folks but big bonanza for politicians; here's how to correct this anomaly

Union Budget 2022-23: It is common for good Samaritans to educate the children of their domestic help and such altruistic spending should be encouraged with a tax break

I-T Dept extends deadline for filing of various tax compliances, Vivad Se Vishwas scheme till 30 Sept

The deadline for filing the Equalisation Levy statement in Form-1 for the Financial Year 2020-21 has been extended till 31 December as against the original due date of 30 June

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

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

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%

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

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

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

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

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