Tag archive for ‘Income’
By Loknath Das On Tuesday, April 3rd, 2018
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From Income Tax Rules To New GST E-Way Bill; Changes That Came Into Effect From April 1

The new income tax (I-T) rules came in force from April 1. There are some major announcements and financial changes that came into effect from April 1, 2018, the first day of financial year, 2018-19. These includes More...

By Loknath Das On Tuesday, April 3rd, 2018
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Income Tax Returns (ITR) Filing Deadline Ends Today. Ten Things To Know

ITR filing online is quite convenient on the income tax filing portal HIGHLIGHTS You can file revised income tax return before March 31 ITR-1 should be used for filing tax return by the salaried individual Income More...

By Loknath Das On Tuesday, April 3rd, 2018
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How Much Extra Income Tax Senior Citizens Can Save This Year

Extra deduction under Section 80TTB for senior citizens will be applicable from FY 2018-19. Finance Minister Arun Jaitley in Budget 2018 announced many changes in income tax laws which will help reduce the More...

By Loknath Das On Tuesday, February 20th, 2018
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Forgot to verify your income tax return? Here’s help

To complete the income tax returns (ITR) filing process, an individual is required to verify the return filed by him. The return must be verified within 120 days of filing. Verification can be done digitally More...

By Loknath Das On Tuesday, February 20th, 2018
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Income Tax Raided Nirav Modi Firms In January Last Year: Sources

Jeweller Nirav Modi has been accused of defrauding Punjab National Bank of Rs. 13,400 crore Nirav Modi, the celebrity diamond designer blamed for one of the country’s largest bank fraud, had been raided More...

By Loknath Das On Tuesday, February 20th, 2018
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Rotomac Bank Fraud: Income Tax Department Attaches 11 Bank Accounts

The CBI had registered a case against Rotomac company, its Director Vikram Kothari, his wife and son. NEW DELHI:  After the CBI and the ED, the Income Tax Department has stepped up action against the Rotomac More...

By Loknath Das On Tuesday, January 30th, 2018
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Budget 2018: Rate of Income tax in top 10 countries by GDP

crescendo, taxpayers are concerned about the new income tax slabs that will be announced on February 1 as these slabs would determine the amount an individual will have to pay as taxes on their income in FY19. Currently, More...

By Loknath Das On Tuesday, January 30th, 2018
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Income Tax Department busts refund fraud, claims nexus between employees of top companies, CA

The Income Tax Department today claimed to have busted a racket of extracting fraudulent tax refunds by employees of bellwether companies like IBM, Vodafone and Infosys in alleged connivance with a Chartered More...

By Loknath Das On Tuesday, January 30th, 2018
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Budget 2018: Income Tax Slabs, Rates And Useful Deductions

Under the Income Tax Act, there are many exemptions that can reduce your tax liability. In Budget 2018, Finance Minister Arun Jaitley is expected to announce some income tax relief for the middle class. The More...

By Loknath Das On Saturday, January 13th, 2018
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Income Department (I-T) Seizes Rs. 85 Crore Cash, Bullion In Anti-Black Money Drive

Assets worth more than Rs. 61 crore were seized by the department over the week New Delhi: A total of Rs. 85.2 crore in cash, bullion and jewelley have been seized by the Income Tax Department after it searched More...