Tag Archives: Income Tax

Image used for representative purposes(AI image) NEW DELHI: Global trading company Jane Street is reportedly not assisting the Income Tax Department with their ongoing investigation, according to sources.Sources told ANI that the investigation faces significant challenges as the company’s essential servers are situated outside India, with officials encountering access limitations. “Access to the servers is being blocked,” one of the …

NEW DELHI: Finance minister Nirmala Sitharaman is expected to push tax authorities to ensure the timely refund of income tax, GST, and export-related dues, while flagging the long pendency in investigation by the Directorate General of GST Investigation (DGGI).Sitharaman is due to meet top officials of the Central Board of Indirect Taxes and Customs next Friday, followed by a similar …

NEW DELHI: The Central government has introduced changes to the Income Tax Act, 1961, expanding the scope of the Tax Collected at Source (TCS) on luxury goods. Starting April 22, 2025, TCS will be applicable to ‘specified range’ of luxury goods valued over ten lakh rupees, including items like wristwatches, art pieces, yachts, and more.Below are comprehensive FAQs on the …

The Republican Party embarked this week on a haphazard experiment in economic policymaking, wagering that the United States can weather a monumental tax increase in the form of broad tariffs on imported goods as long as Congress also cuts taxes on income. It’s a mash-up that many investors, economists and even some G.O.P. lawmakers expect to be a failure. “I …

NEW DELHI: Yes Bank on Saturday said it has received a demand notice of Rs 2,209 crore for the assessment year (AY) 2019-20. The said AY was reopened by the income tax department in April 2023, Yes Bank said in a regulatory filing. The reassessment order was passed by the National Faceless Assessment Unit of the income tax department on …

The Income tax department‘s offices across India will remain open from March 29 to March 31 to assist taxpayers in completing any pending tax-related tasks before the end of the fiscal year. The current financial year 2024-25 concludes on March 31.Despite the weekend and the observance of Eid-al-Fitr, which may coincide with Monday, the Income Tax offices will continue their …

President Trump has issued an unremitting stream of tariff threats in his first month in office, accompanied by nearly as many reasons for why they should go into effect. Tariffs on Canada, Mexico and China are a cudgel to force those countries, America’s largest trading partners, to crack down on the flow of drugs and migrants into the United States. …

All the taxpayers in the new tax regime have some reason to celebrate, irrespective of income levels. By Parizad SirwallaBudget 2025 income tax: In the run up to the Budget 2025, individual taxpayers were eagerly looking forward to favorable tax reforms. The FM seems to have brought some cheer to them through her proposals.Recognizing the contributions of the middle class …

Latest income tax slabs: The slab rates are easy to remember, slab changes with every block of 4 lakh and corresponding tax rates changes 5% up to six blocks By Anand DheliaAs a common man of India, I would like to compliment and thank Hon’ble Finance Minister (FM) for being considerate towards the middle class and salaried taxpayers who generally …

GST reforms: The primary objective will be to restructure the tax slabs to ensure meaningful outcomes. More tax relief coming soon? The Narendra Modi government, having provided substantial relief in personal income tax and customs tariff rationalisation in the Union Budget 2025, is now expected to initiate efforts to streamline the goods and services tax (GST) framework for easier implementation …