Keyword : Income Tax

Jaitley’s budget prepares India for a big take off

Announcing a budget aimed at high growth finance minister Arun Jaitley delivered his first full-year budget with proposals to boost investment and benefits to ordinary people. "

Income tax payer in for shock as govt wants to know more in new tax form

In pursuit of black money, the government is hauling up ordinary tax payers and seeking additional details in the new income tax return (ITR) form for assessment year 2015-16. This will be applicab

LS to consider black money bill today

The black money bill is likely to be taken up for consideration in the Lok Sabha on Monday. The legislation, known officially Undisclosed Foreign Income and Assets Bill, provides for heavy penaltie

Simplified income tax return forms soon

Income tax return or ITR forms will be "far more simplified" assured Finance Minister Arun Jaitley on Saturday. However, there was clarity on the disclosure of bank accounts and f

Jaitley assures honest taxpayers and allays fears of black money law

Finance Minister Arun Jaitley has assured that the honest taxpayers have nothing to fear about the new black money law. Addressing the annual conference of top income tax officials o

Simplified income tax return forms are less tedious

A chastened government has introduced simplified and shorter income tax return forms after dumping intrusively long ITRs. The government has also extended the last date for filing of returns by a m

CBDT goes for business application to track tax evaders

With PAN (permanent account number) as reference the Central Board of Direct Taxes (CBDT) is devising a single-window financial information database of taxpayers to profile their source of income a

Govt may not okay financial code to dilute RBI chief’s power

After being forced to revise income-tax returns forms, finance minister Arun Jaitley may also revise the draft of Indian financial code (IFC) which proposes to dilute powers of the RBI governor in

Morning briefing: Ghulam Ali invited by Delhi after Mumbai concert is cancelled

The Arvind Kejriwal government has invited Pakistani singer Ghulam Ali to perform in the national capital after his concert in Mumbai was cancelled due to Shiv Sena protests, saying "music has

Evening digest: FTII students call-off their 139-day-old strike

The Film and Television Institute of India (FTII) students on Wednesday decided to call off their 139-day-old strike saying their protest will continue till the issue of appointment of Gajendra Cha

Why he opted for IRS instead of IAS

Dr Sri Vatsa Sehra cracked the civil services examinations, considered one of the world’s toughest, and did the unthinkable by deciding against joining the much sought after Indian Admini

“We cannot afford to do business with black money”

How is the response to the IDS? The response has been good. A number of declarations have come and there have been a large number of inquiries too.

Time to end the marriage of bad money and bad politics

Black money is essentially a popular name for black economy. By now it has ‘evolved’ into a grey, that is an indistinguishable mixture of black (i.e., illegal-immoral) and white (i.e.,

“But for black economy, each one of us would have been seven times richer”

What do the income disclosure or amnesty schemes reflect on the government? What it suggests is that the government under the normal schemes is not able to take care

A case for taxing agricultural income

At a time when the government is trying to shore up its revenues so that it can carry on its ambitious projects, a key sector that has been left out of taxation is agricultural income. Policy maker

Don’t think black money can be completely stopped: Former top IT official

Do you think demonetization will help weed out black money? It is too early to say. Only when the final results are in by December 31, we will know if black money has bee

IT raids top TN official: A pen drive holds sleuths’ interest

 Income Tax officials will be poring through the contents of a pen drive which they have taken during Wednesday’s raid at the office of Tamil Nadu chief secretary Rammohan Rao.

Tax collections go up

Direct tax and indirect tax collection figures for the period April 2016 to December 2016 have shown a positive trend as direct taxes grew by 12.01% and indirect taxes went up by 25% over the corre

Tax growth rate goes up

The growth rate of direct as well as indirect taxes have gone up, revenue secretary Hasmukh Adhia said on Tuesday. Adhia said that net personal income tax growth was at 21% over last year

Justice Dalveer Bhandari and his suggestions on income tax

Justice Dalveer Bhandari, who has again been elected to the International Court of Justice, had once made some very practical suggestions on income tax reforms. In his

Justice Dalveer Bhandari and his suggestions on income tax

Justice Dalveer Bhandari, who has again been elected to the International Court of Justice, had once made some very practical suggestions on income tax reforms. In his

Why not do away with personal income tax

The pre-budget days are here again and there cannot be a better time than this to once again seek an end to personal income tax.   Ending taxes on personal income will be

Income tax officer suspended for harassing taxpayer

A senior income tax officer has been suspended for allegedly demanding “illegal gratification” from a taxpayer, authorities said.   A complaint was received a

CAG spots irregularities in Income Tax assessments

There has been persistent and pervasive irregularities in respect of corporation tax and income tax assessments cases over the years, noted a CAG report. The report said that recurre

Benami properties worth over Rs 3,500 crore attached

Provisional attachment has been made by the Income Tax department in more than 900 cases of properties under the Prohibition of Benami Property Transactions Act, which came into force November 1, 2

Tightrope walking meets poll dance

Budget 2018, forecast to be a “please all” budget, has come out as a “disappoint all” budget. The public is looking askance at a budget that gives with one hand but takes aw

Why not make rich farmers pay tax?

Before Narendra Modi replied with the now-famous greeting of “Puducherry ko Vanakkam”, a BJP worker was telling him in a party-organised video conference that the government was “



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