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Direct tax collection in the fiscal year just ended has exceeded the targets with a record 6.84 lakh income tax returns being filed, officials said today.

Income-tax rate for individuals may be cut soon

This has been suggested by a committee set up to recommend changes in the direct tax code.

25 Sept 2019 2:20 AM IST

D.K. Shivakumar

HC to hear Shivakumar's plea seeking copy of ED recorded statements on...

Shivakumar, MLA from Kanakapura assembly, is in judicial custody till Oct 1 and his bail plea is pending before a trial...

21 Sept 2019 10:53 AM IST

Mauritius is compliant with all OECD norms, including the Global Forum on Transparency and Exchange of Information for Tax Purposes.

US corporate sector hails India's move to slash income tax rate for...

Government slashed the income tax rate for companies by almost 10 percentage points to 25.17 per cent.

21 Sept 2019 9:49 AM IST

India is among those few countries with high income tax rates for individuals, despite being a laggard in terms of revenue collection due to a smaller taxpayer base.

Speculation rife on possible income tax cut for individuals

After a cut in the corporate tax, speculation around an income tax cut for individual taxpayers is rife.

21 Sept 2019 2:49 AM IST

Income tax officials are unhappy with the mopup so far in this fiscal. They feel that the economic slowdown and the IT Departments strategy of going slow on the corporates, in the aftermath of the suicide of Cafe Coffee Day founder VG Siddhartha in July, have impacted the over all tax collections between April 1 and September 17.

Taxmen blame pause in raids to weak collections

Some key IT regions like Delhi and Bengaluru have been impacted so badly that their growth rate stood at -7.0 and -2.9...

19 Sept 2019 1:52 AM IST

The government has proposed a penal tax rate of 50 per cent to incentivise black money hoarders to switch to formal economy.

Govt mulling another booster dose to reinvigorate economy

The blue print for the stimulus is ready that would be announced by FM Nirmala Sitharaman in the next few days, an...

17 Sept 2019 6:39 PM IST

Deposits in 11 bank accounts and mutual funds have also been attached, said the ED.

Income Tax Officer raided by ED, books him for money laundering

Officials said officer is under scanner for alleged links with the prime accused of the Rs 15,000-crore Rose Valley chit...

14 Sept 2019 7:08 PM IST

Late in the evening, the state government announced that the provision will be scrapped. (Photo: File)

UP to repeal 4-decade-old law that made treasury pay their income tax

The direction follows criticism of a law enacted in 1981 which ensures that state's CM and ministers don't pay any I-T...

14 Sept 2019 8:09 AM IST

The government has proposed to halve the income tax to 5 per cent for those earning between Rs 2,50,000 and Rs 5,00,000 per annum, in a relief to the middle class.

Income Tax Department eases criminal prosecution norms for TDS, ITR...

CBDT has laid down a new criteria to ensure only 'deserving cases get prosecuted'.

12 Sept 2019 12:33 PM IST

Congress leader D K Shivakumar takes oath as minister in the Karnataka cabinet. (Photo: Twitter/ANI)

D K Shivakumar's daughter summoned by Enforcement Directorate for...

While scrutinising the financial dealings of Shivakumar, the agency found documents pertaining to a trust handled by his...

10 Sept 2019 8:37 PM IST

Infosys announced that they have terminated the three employees.

Three Infosys employees arrested for taking bribes from income...

Tipped off by Income-Tax CPC, company terminates their services after an internal investigation

10 March 2020 10:45 PM IST

Deputy Chief Minister of Maharashtra, Ajit Pawar (Image source: Twitter@AjitPawarSpeaks)

IT dept attaches properties worth Rs 1,000 cr allegedly belonging to...

According to sources, one of these five properties includes Nirmal Tower situated at Nariman Point, Mumbai

2 Nov 2021 1:56 PM IST