income tax law

Panel to redraft direct tax laws to focus on simplification

The recommendations of the panel is likely to be included in the final budget for 2019-20.

Tax department to seek share purchase pact from Flipkart

The department currently is going through the Section 9(1) of the Income Tax law, which deals with indirect transfer provisions.

Don't misuse I-T laws, tax rates already low: CBDT to industry

In 2018-19 Budget, Jaitley proposed to lower corporate tax rate to 25 pc for businesses with turnover of up to Rs 250 cr.

Inherited gold, jewellery to be exempt from income tax: govt

No tax on ancestral jewellery, purchase from disclosed income.

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