Income Tax

Tax talk: How property deals in India affect NRIs’ tax outgo

FOR NRIs wishing to invest in property in India, there are a variety of factors to be considered.

CBDT, Income tax

Govt to modify new income tax return forms

The Income Tax department had notified new income tax return forms on April 15.

income tax returns efili

Income Tax Dept: Some tax deductors not depositing TDS

Commissioner of Income Tax (CPC-TDS) Ravi Agarwal said more than 2 crore educational e-mails on various issues have been sent by CPC (TDS) to deductors.

income tax department

Centre backs off on MAT notices

But no relief offered retrospectively as sought

income tax efiling

Tax talk: Delayed housing project could cost you income tax deduction

EVERYONE dreams to have a home they can call their own. However, due to a variety of issues, delays in completion of housing projects...

Breather for FIIs: MAT assessments, fresh notices put on hold

To assuage concerns of foreign portfolio investors slapped with Minimum Alternate Tax demand, the government today put on hold issuance of fresh notices.

Minimum alternate tax for FII

Narendra Modi govt set to simplify income tax return forms likely by May end

The final decision on simplification of the income tax return forms would be taken by Finance Minister Arun Jaitley before the end of the month.

income tax dispute nokia india

After Narendra Modi prod, Income Tax dept may redress taxpayer grievances on priority

After Prime Minister Narendra Modi expressed his displeasure over delays in the addressing of taxpayers' grievances in the Income Tax department, CBDT has put these cases on fast-track.

narendra modi

Oil MNC, Indian unit facing tax scrutiny: Jayant Sinha

Jayant Sinha was replying to a question whether some companies, particularly in the oil and gas exploration sector, have transferred their assets from overseas to subsidiaries in India.

Oil

India moves to resolve tax row, mollify foreign investors

FM Arun Jaitley told lawmakers in parliament the government was committed to three principles: certainty of taxation, avoidance of retroactive taxation and enabling both domestic and foreign investment.

arun jaitley arun jaitley on congress

Bombay HC grants Aberdeen interim relief on MAT order

Aberdeen moved the Bombay HC against retrospective MAT demands by the Indian IT department on May 2.

income tax dispute nokia india

Income Tax department collects Rs 6.96 lakh cr revenue during 2014-15

I-T Department which collects a variety of taxes like Income Tax and Corporate Tax collected approximately Rs 6,96,200 crore in the fiscal ending March 31, 2015.

income tax department

The complex ‘saral’: Cracking the form in tax reform

The simplicity of the income tax return form and widening of tax net are promises made by all finance ministers in the past.

Boby Chemmanur jewellery, Chemmanur jewellery, Chemmanur group income tax, RBI, SEBI, Chemmanur group RBI, India news

‘Extremely simplified’ income tax return form coming soon: FM Arun Jaitley

An "extremely simplified" income tax return form will soon replace the controversial 14-page ITR: Arun Jaitley

arun jaitley gst bill

APA pleas surge, go past the 500 mark

The finance ministry recently allowed rolling back of the APAs signed for four previous years too.

Income tax: Living allowance to employees while on tour exempt from tax

Can I claim exemption against travel expense incurred by my brother?

Check your new Income Tax assessment range before filing returns

With income tax returns filing season commencing soon, taxpayers have been advised to re-check their new assessment ranges as the Income Tax department...

income tax returns efili

Tax exemption for donations to Greenpeace to be withdrawn?

A move is afoot to withdraw tax exemption for donations to Greenpeace even as nearly 180 organisations and activists rallied behind the NGO...

Greenpeace, Greenpeace India, Greenpeace donations, Greenpeace ngo, Income Tax Act, tax exemption, tax exemption 2015, tax exemption 80g

Editorial: From saral to kathin

Taxman needs to make things simple, not tough

Centre to review new Income Tax return forms, make them simple

A day after notifying the new income tax return form with significant changes like reporting foreign travels...

Income Tax Returns forms

Need to give foreign visit details in tax returns

The assessee will also have to furnish the name of the bank, account number, its address, IFSC code, etc.

tax, income tax, Income tax return, Aadhaar number, tax residency certificate, capital gain account schemes, Nation news, india news, tax payers

End of paper trail in e-filng of Income Tax returns; Aadhaar added

Assessees filing I-T returns online will no longer have to send the paper acknowledgement by post///

income tax department

Black money: Income Tax returns coverage set to broaden

Taxpayers will have to disclose all bank accounts held by them in the country and instances of foreign travel to the Income Tax department while filing their returns...

black money, income tax, income tax returns, ITR, Central Board of Direct Taxes, foreign travel expenses, bank account details, economy news, India news

LTCG: Income tax raids unearth Rs 100 crore

The income tax department has searched at least 15 individuals and unearthed undisclosed income of Rs 100 crore in connection...

government debt

Tax Talk: ‘Conduct’ of party key to determining interest on refund of excess tax

A recent Delhi HC ruling marks a departure from the settled position that if any amount is wrongly detained by tax authorities, the necessary interest follows automatically

Delhi High Court stays warrant for Sahara chief Subrata Roy’s appearance in Income Tax case

The Delhi High court stayed till next month the trial court proceedings and the warrant issued...

Direct tax collection falls short by Rs 19,028 cr in FY15

Initial numbers suggest that direct tax collection is short of the revised target by over Rs 19,028 crore...

income tax department
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