News | Tax

Income tax exemption limit on gratuity doubled to Rs20 lakh: Labour Minister

The labour ministry said that the income tax exemption limit on gratuity has been doubled to Rs20 lakh from the existing Rs10 lakh, a move that will...

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CBDT sets up panel to help bring down tax litigation

The government is looking to address taxation-related pain points and cut down the number of tax litigations, while focusing on some of the major...

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CBDT sets up panel to help bring down tax litigation

The government is looking to address taxation-related pain points and cut down the number of tax litigations, while focusing on some of the major...

more

Taxman lists non-filers who carried out high-value transactions in FY19

The income-tax department has drawn up a list of individuals who carried out high-value transactions in financial year 2017-18 but did not file...

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Income tax returns processing to be speedened to one day

The government said IT (information technology) major Infosys will develop the next-generation income tax filing system for Rs4,241.97 crore which...

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I-T department allows manual filing of Form 13 in special cases

The income tax department allowed manual filing of form by resident and NRI (non-resident Indian) taxpayers wanting to apply for deduction of taxes...

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Direct tax laws to be redrafted and simplified

Prime Minister Narendra Modi, during the annual conference of tax officers in September 2017, had observed that the Income-tax Act, 1961 was drafted...

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PAN Card: What are the New Rules?

There a few changes regarding the Permanent Account Number (PAN) that came into effect from December 5

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Now, Pay GST on ‘Free’ Banking Services Because the Government Wants to Extort More Revenues

With the possibility of paying goods and services tax (GST) on ‘free services’ provided to customers who maintain a minimum balance in...

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CBDT permits widening of scope of ‘limited scrutiny’ cases

The CBDT (Central Board of Direct Taxes) has issued a fresh directive on 'limited scrutiny' assessment cases allowing the tax officials to widen the...

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