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The scheme seeks to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance.

LTCG tax, other Budget proposals to kick in from April 1

Presently, no tax is applicable on Rs 19,200 of transport allowance and medical expenditure of up to Rs 15,000.

30 March 2018 1:34 PM IST

The agency alleged Rai approached Kapil Wadhawan, a relative of the promoters of the company, in September 2017, portraying himself as an income tax power broker .

Journalist Rai booked in extortion case: CBI

He also gave his credentials as a senior journalist to Wadhawan, who was connected to big media houses.

6 May 2018 7:34 AM IST

The official said Rs 32.54 crore in cash, out of the total seizures of Rs 152.78 crore, has been released after verification. (Representational image)

Seizures of over Rs 120 crore made by EC in Karnataka

The state will go to polls on May 12. The counting of votes is scheduled for May 15.

6 May 2018 12:48 AM IST

Terming the MSME sector as the backbone of the economy, Finance Minister Arun Jaitley on Saturday said the sector would lead the current consolidation phase of the economy. (Photo: PTI)

It's time govt shows the middle class some love

The income-tax structure also reveals an implicit lower bound for middle class income.

30 Jun 2018 5:20 AM IST

Firefighters try to douse a fire which broke out at Scindia House building on Friday. (Photo: Debasish Dey)

Six rescued in fire at I-T office in Scindia House

As many as 16 fire engines were pressed into operation to douse the fire.

2 Jun 2018 1:44 AM IST

Under FATCA income tax department received data for calendar year 2016 from 39 countries covering nearly 1.2 lakhs persons. (Photo: ANI)

IT Dept detects undisclosed income of Rs 125 crore under FATCA

IT Department has recommended penalties under Section 43 of the Black Money Act in over 700 cases.

2 Aug 2018 2:50 PM IST

Punjab National Bank today said money of customers is safe and asserted that there would be zero tolerance towards unethical practices.

PNB in talks with I-T, excise departments to sell erstwhile...

The lender expects to raise nearly Rs 700-800 crore from the sale of its earlier head office in the national capital.

8 Aug 2018 7:32 PM IST

The Supreme Courts order on the SC/ST Act, that no arrests can be made under it without a prior probe, led to protests across the country. (Representational image)

SC comes down hard on IT department, says court is not a 'picnic...

"You cannot treat the Supreme Court like this," the bench said.

2 Sept 2018 3:10 PM IST

PM Modi was interacting with women associated with Self Help Groups through video conferencing on the Narendra Modi (NaMo) app. (Photo: ANI)

Publicise action against corrupt I-T officials, says Modi

The Prime Minister directed officials to sensitise their counterparts to be more people-friendly and fast-track their...

7 Sept 2018 1:35 AM IST

UPA chairperson Sonia Gandhi and party chief Rahul Gandhi talk as former Prime Minister Manmohan Singh looks on during the 84th Plenary Session of Indian National Congress in New Delhi. (Photo: Sondeep Shankar)

Delhi HC rejects Rahul, Sonia's plea against tax reassessment of FY...

The court noted that the IT department has the power to reopen tax proceedings.

11 Sept 2018 12:13 PM IST

A. Revanth Reddy

I-T officials seize 'key documents' from Revanth Reddy's house

A senior official of the I-T Department ruled out Revanth Reddy's arrest as far as the Income Tax searches are...

28 Sept 2018 6:40 PM IST

If you are under the age of 60, heres a check list to help you plan your money decisions to create wealth, insure adequately, and save tax in 2018-19.

Hope to cross Rs 11.5 lakh cr direct tax collection target for FY19:...

Direct tax collections grew a paltry 4.2 per cent on year to Rs 1.54 lakh crore in April-June.

17 Sept 2018 3:33 PM IST