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News | Tax

FM: FinMin to wait for one more year to take call on LTCG tax

There has been a collective sigh of disappointment by experts after the recent budget who opined that investors were irked at the absence of any...

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Soon You May Get e-PAN Instantly Using Aadhaar

The government this month will roll out a facility to issue online PAN cards instantly on furnishing of Aadhaar details, Revenue Secretary Ajay...

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IT department confirms that it is mandatory to link PAN-Aadhaar by Dec 31

The Income Tax Department has now announced in a public message that it is mandatory to link your PAN with Aadhaar by the end of this year so as to...

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Rejig in income tax slabs likely to help govt save Rs55,000 cr: Income Tax Task Force Report

According to a news report in The Economic Times (ET), a rejig in income tax slabs and a change in capital gains tax as per the recommendations of...

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Income tax to roll out instant PAN feature online soon

The ET has reported that the Income Tax (IT) Department will soon start issuing permanent account numbers (PAN) online using details from the Aadhaar...

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IT department rolls out e-assessment; 58322 taxpayers selected for 1st phase

The government launched the faceless e-assessment scheme that eliminates physical interaction between an assessing officer and the taxpayer while...

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Higher Road Tax Makes Cars Costlier

Nine states have increased road taxes, raising the cost of on-road cost passenger vehicles. Vehicle prices have increased by Rs5,000-57,000 depending...

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Prosecution norms less draconian for late filing of Income Tax returns TDS

The Central Board of Direct Taxes (CBDT) has relaxed some norms relating to prosecution of income tax defaulters for delay in depositing Tax Deducted...

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Faceless Tax Assessment Pilot Soon

Taxpayers in select cities can soon be assessed by a tax officer from anywhere in the country, as the government takes steps towards “faceless...

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IT Department Launches 'Lite' e-filing Facility for Taxpayers

A 'lite' e-filing facility was launched by the Income Tax department on Thursday to facilitate easy and quick filing of returns by taxpayers. On July...

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