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Can Modi government abolish TDS ? 05 June 2014
Tax Deducted at Source [TDS] is the advance payment in Income Tax and this belongs to the IT department. Taxes are the sources for Government revenue. Unless, common people pay tax, government cannot afford to move a step forward. Even...
Keywords: Income tax deducted at source a burden on middle class people, Why TDS, Income Tax, problems of TDS system
Read MoreFiling of income tax returns made user-friendly 01 June 2015
The central government has announced the simplified and thinner income tax return forms, which do away with the need for the unnecessary disclosures on the spending on foreign visits and dormant bank accounts and extended the deadline for filing the...
Keywords: Income tax, Finance ministry, ITR, ITR
Read MoreIndian American indicted for tax fraud 21 June 2012
An Indian American was indicted in 19 cases relating to bribery and tax fraud. The US Police took 57-year-old Raguveer Naik into the custody and produced before the court today. He was facing indictments for paying off bribes to medical...
Keywords: 19 cases relating to bribery and tax fraud, Raguveer Nayak, 19 cases relating to bribery and tax fraud, Indian American
Read MoreNew Income Tax Rules Formed; President Pranab Mukherjee Gives Approval 03 April 2017
President Pranab Mukherjee, today, gave his approval to the finance bill 2017, thus turning it into a law. This move came, just after two days, receiving a green signal from the Lower House. The Finance Bill, was, however, approved by...
Keywords: Tax reforms, PAN, PAN, Finance bill 2017
Read MoreNo filing of I-T returns if salary is less than Rs. 5 lakh/year 22 February 2012
"An individual whose total income for the relevant assessment year does not exceed Rs 5 lakh and consists of only income chargeable to income-tax under...salaries...(and) income from other sources, by way of interest from a saving account in a bank,...
Keywords: bank deposits, income tax returns, Finance Ministry, salaried employees
Read MoreNew and simplified ITR forms, govt. Notifies 24 June 2015
For the assessment year 2015-16, the IT department has notified the new set of simpler income tax return (ITR) forms for filing the returns. The earlier set of filing the returns has led to many controversies, as it sought details...
Keywords: income tax returns, Finance Ministry, Finance Ministry, Arun Jaitley
Read MoreNo I-T returns for below Rs 5 lakhs per annum salary 21 July 2012
Salaried class gets respite from the Indian Income Tax department. As per the Finance Ministry from this financial year, salaried employees earning up to Rs. 5 lakhs a year no longer need to file income tax returns. The ministry is...
Keywords: live news, live news, income tax returns, income tax returns
Read More43 Lakh Income Tax Returns Filed In A Day 30 July 2022
43 Lakh Income Tax Returns Filed In A Day:- The Indian government denied extension of the last day to file the tax returns for the financial year 2022-23, the Indians had a rush to file the returns as the due...
Keywords: Income Tax Returns 2022-23, Income Tax Returns numbers, Income Tax Returns 2022-23, Income Tax Returns date
Read MoreFile Your Income Tax Returns By Today, As No More Extension Likely 05 August 2017
File Your Income Tax Returns By Today, As No More Extension Likely:- The deadline for filing income tax returns has been extended by the Government from July 31 to August 5 which is today. The taxpayers may not get yet...
Keywords: Form 16a, August 5 Last Date, Form 16a, Income Tax Department
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