Taxpayers

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Taxpayers - Total results - 88
Income Tax Department cautions people against phishing e-mails promising refund
Business

Income Tax Department cautions people against phishing e-mails promising refund

According to the latest data, between 8-20 April, the department issued nearly 14 lakh refunds involving an amount of over Rs 9,000 crore to various taxpayers

Income Tax Department sends e-mails to 1.72 lakh assessees over outstanding tax dues
Business

Income Tax Department sends e-mails to 1.72 lakh assessees over outstanding tax dues

The income tax department has sent e-mails to 1.72 lakh assessees, including start-ups, companies and individuals, who have outstanding tax demands as well as tax refunds asking them to provide as update on the payment

I-T refunds worth Rs 4,250 cr issued in a week; to be credited in 5-7 days in taxpayer bank account: CBDT
Business

I-T refunds worth Rs 4,250 cr issued in a week; to be credited in 5-7 days in taxpayer bank account: CBDT

The Income Tax department has issued over 10.2 lakh refunds worth Rs 4,250 crore within a week, the Central Board of Direct Taxes (CBDT) said on Wednesday

Income Tax Department asks taxpayers to guard against possible breach of their personal e-filing account
Business

Income Tax Department asks taxpayers to guard against possible breach of their personal e-filing account

The Income-Tax Department has asked taxpayers to guard against possible breach of their personal e-filing account and report such an instance to the police cybersecurity wing

Coronavirus pandemic: Govt considering another package after 15 April to minimise impact, says report
Business

Coronavirus pandemic: Govt considering another package after 15 April to minimise impact, says report

There have been discussions about a package but nothing has been finalised yet, the official said, adding that the idea is to revive consumption, "so some measures might be needed."

Income tax: Taxpayers should evaluate previous, latest slabs before finalising option; here's all you need to know about two regimes
Business

Income tax: Taxpayers should evaluate previous, latest slabs before finalising option; here's all you need to know about two regimes

Seven slabs have been introduced for personal income tax. The tax rates on income up to Rs 15 lakh have been reduced to benefit the Indian taxpayers.

Nearly 81% employers feel new income tax regime not to benefit staff; communication with employees to become biggest challenge: Survey
Business

Nearly 81% employers feel new income tax regime not to benefit staff; communication with employees to become biggest challenge: Survey

They also fear the new income tax regime will deter employees from taking up voluntary benefits from their employers, and this will force those drawing higher incomes to look for other investment options.

Finance ministry expects at least 80% of taxpayers to move to new tax regime, says revenue secretary
Business

Finance ministry expects at least 80% of taxpayers to move to new tax regime, says revenue secretary

The finance ministry expects at least 80 percent of the taxpayers to move to the new income tax regime, Revenue Secretary Ajay Bhushan Pandey said on Friday

Middle class people 'trained enough' to pick right income tax option: NITI Aayog vice-chairman Rajiv Kumar
Business

Middle class people 'trained enough' to pick right income tax option: NITI Aayog vice-chairman Rajiv Kumar

NITI Aayog Vice Chairman Rajiv Kumar on Wednesday said the middle class is "trained enough" to decide which personal income tax option is good for them and exuded confidence that their propensity to save will not come down

Taxpayers' charter will empower citizens to get time-bound services from I-T dept: CBDT chairman Pramod Chandra Mody
Business

Taxpayers' charter will empower citizens to get time-bound services from I-T dept: CBDT chairman Pramod Chandra Mody

The taxpayers' charter announced in the Budget will have a statutory status and it will "empower" citizens by ensuring time-bound services by the Income-Tax Department, the CBDT chief has said

GST collection crosses Rs 1 lakh cr mark for third month in a row in January; in line with set target
Business

GST collection crosses Rs 1 lakh cr mark for third month in a row in January; in line with set target

The GST collection is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after a high-level meeting with senior tax officials earlier this month.

Budget 2020: Finance Minister Nirmala Sitharaman must consider announcement of implementation of proposed Direct Tax Code
Business

Budget 2020: Finance Minister Nirmala Sitharaman must consider announcement of implementation of proposed Direct Tax Code

One of the major demands of corporates is that the government should replace the dividend distribution tax on dividends with the withholding tax (WHT) on dividends

Govt expected to receive over Rs 39,500 cr under Sabka Vishwas Scheme; realisation a big booster amid revenue shortfall concerns
Business

Govt expected to receive over Rs 39,500 cr under Sabka Vishwas Scheme; realisation a big booster amid revenue shortfall concerns

The Sabka Vishwas Scheme, which became operational on 1 September 2019, provides a one-time window to eligible persons to declare their tax dues and pay the same in accordance with the provisions.

CJI SA Bobde calls for speedy resolution of tax disputes, says move will free funds locked in litigation
Business

CJI SA Bobde calls for speedy resolution of tax disputes, says move will free funds locked in litigation

The Chief Justice said tax judiciary plays a very important role in resource mobilisation of the country and expressed concern over pendency of cases.

Govt taking steps to simplify taxation, curb harassment of honest taxpayers: Nirmala Sitharaman
Business

Govt taking steps to simplify taxation, curb harassment of honest taxpayers: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the government is taking various steps to simplify taxation system and eliminate harassment of honest taxpayers

Large taxpayers yet to take benefits of Sabka Vishwas amnesty scheme; deadline not to be extended beyond 15 January
Business

Large taxpayers yet to take benefits of Sabka Vishwas amnesty scheme; deadline not to be extended beyond 15 January

As many as 87.5 percent of the eligible taxpayers have taken advantage of Sabka Vishwas, a dispute resolution-cum-amnesty scheme

GST Council to set up grievance redressal mechanism for taxpayers; panel to be constituted for 2 years
Business

GST Council to set up grievance redressal mechanism for taxpayers; panel to be constituted for 2 years

The council will set up the Grievance Redressal Committee (GRC) at zonal and state levels consisting of both central tax and state tax officers, representatives of trade and industry and other GST stakeholders.

Govt sets Rs 1.1 lakh cr monthly GST collection target, asks taxmen to buckle up
Business

Govt sets Rs 1.1 lakh cr monthly GST collection target, asks taxmen to buckle up

Amid concerns that the government may fall short of tax collection target in a slowing economy, the Centre has set an ambitious Rs 1.1 lakh crore monthly GST target for the remaining four months of the current fiscal and asked taxmen to step up efforts to achieve the goal

GST returns: How to prepare for new provisional credit rule; wrongful claim of ITC may attract penal provisions
Business

GST returns: How to prepare for new provisional credit rule; wrongful claim of ITC may attract penal provisions

Apart from the 20 percent of eligible ITC which he can claim as provisional credit, the balance tax due will need to be paid in cash.