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Income tax category offers the audience with complete knowledge of income tax provisions and tax rates in India. Visit here for the latest and trending income tax news, articles, blog and amendments of IT.
New Delhi: According to the fresh data disclosed by the government, only 1 percent of the Indian population account as tax payers in the country. Though, for as many as 5430 persons, the tax expenditure was more than Rs. 1 crore, said the latest statistics for the 2012-13 assessment. The overall number of individuals who […]
Service tax is a tax which imposed on taxable services provided in India (other than J&K). Due dates for liability of depositing service tax in the account of government is 5th of every month for the month ended, if payment mode is Offline (i.e. for the month of January due date for depositing service tax challan […]
The income tax department gave a surprise to all payers of TDS by making an announcement that now department will pay interest on delayed TDS deduction refund and will also not lawsuit with the deductor on this issue in the future. The Central Board of Direct Taxes (CBDT) has given instructions about this to officers […]
The Indian income tax department may send a notice to call all Indians whose named leaked in Panama Papers. The notices could be sent within 2 months. Recently, the panama papers news was picked up a big issue in India as the more than 500 Indian names including top industrialists and Bollywood actors that mentioned in […]
Government is planning to simplify the efforts for the income tax payers by reducing the assessment time of an individual’s tax returns by picking up random inspection to be done in one year.
From last some years, the lawsuits regarding the Service tax have increased due to absence of India’s most crucial taxation regime- Goods and Service Tax (GST). The GST Bill will remove several indirect taxes like service tax, VAT etc and it will create a single market for one dozen levies states.
This is a news of happiness for all the business entities as the ministry of finance (MoF) has released them from service tax on certain services including passport and licence etc. Now the commercial institutions would not need to pay service tax on certain public services that are provided by the government and local authorities. […]
Image Source: Google Image Sukanya Samriddhi Yojana/Scheme is a government scheme, launched by Mr. Narendra Modi, Prime minister of India. The scheme is completely aimed for the betterment and upliftment of the girl child in the country and to save money for the girl child to gave her a good education and for taken care […]
Today, the Governor of the Reserve Bank of India, Mr. Raghuram Rajan has made an announcement regarding the credit policy. He has cut 0.25 interest rates, as previously expected. While, there is no change in the CRR. It remains same at 4 percent. Apart from this, the repo rate has also been cut by 0.25 […]