India Sees Surge In High-Income Taxpayers; 9.39 Lakh Declare Over Rs 50 Lakh Income
Senior Income Tax officials report a rise in high-income taxpayers, with over 9.39 lakh individuals declaring incomes above Rs 50 lakh.
Supreme Court Questions High Court’s Jurisdiction In Congress Income Tax Dispute
The Supreme Court questioned the jurisdiction of the Delhi High Court in directing Congress to return to the Income Tax Appellate Tribunal.
Explained: Why Residents Of Sikkim Exempted From Paying Income Tax
Sikkim, a former kingdom, merged with India on the condition that its old laws and special status would remain intact. Consequently, the small northeastern state followed its own Sikkim Income Tax Manual 1948, governing tax laws since 1975
Tax Clearance Certificates Not Mandatory For All Indians Moving Abroad, Clarifies Government
Section 230 of the Income-tax Act, 1961, does not require every individual to obtain a tax clearance certificate. It specifies that only certain individuals, under specific circumstances, are required to obtain the certificate.
Explained: How Much Income Tax You Have To Pay After Modi 3.0’s First Budget
In Budget 2024, the Government provided relief to salaried and middle-class individuals under the new tax regime. However, there is no change in the old tax regime
Finance Minister Unveils Major Overhaul Of Income Tax Act In 2024-25 Budget
Finance Minister Sitharaman has announced a comprehensive review of the Income Tax Act of 1961 as part of the Budget proposals for 2024-25.
Budget 2024-25 Brings Tax Relief For Salaried Individuals & Pensioners
Finance Minister Nirmala Sitharaman announced key changes in the personal income tax structure as part of the 2024-25 Budget.
IT Raid: Raids continue For 30 Hours In Nashik, 26 Crore Cash; Unaccounted Property Worth 90 Crores Seized
The team from Nashik, Nagpur, Jalgaon took this action. 50 to 55 officers raided the premises of Surana Jewelers as well as the office of his real estate business.
Tax Appellate Tribunal Concludes Hearing on Congress Tax Dispute, Reserves Order
According to Congress leaders, the ITAT has issued an order preventing income tax officials from seizing additional funds from the party's bank accounts.
NGOs, trusts and societies to pay thirty percent income tax
In 2021, the Central Government had ordered NGOs across the country to re-register with the Income Tax Department to get income tax exemption. The central government extended the date for registering institutions five times.
