Feb 10, 2016 at 16:51 | Source: Moneycontrol.com
Rana Kapoor, MD & CEO of YES Bank expects that in Budget 2016 the finance minister Arun Jaitley will increase disposable incomes by relaxing personal income tax slabs to Rs 5 lakh from Rs 2.5 lakh as a one-time correction and thereafter as per inflation-linked indexation every three years.
Apr 10, 2015 at 12:36 | Source: PTI
The court also stayed till May 25 proceedings before trial court against Subrata Roy, others, accused of not filing returns for a group company for 2013-14 assessment year.
Mar 27, 2015 at 11:00 | Source: Moneycontrol.com
Though there is a provision to deduct tax at the source of income, one must assess this tax position. Despite TDS, one may have to pay tax, if his tax rate is higher than the rate of TDS. One may also claim tax refund if TDS rate is higher than his tax slab rate.
Mar 03, 2015 at 16:50 | Source: PTI
A total of 44,07,193 non-filers for assessment year 2013-14 who are expected to file their tax returns by March 31, the closing date for fiscal 2014-15, are on the radar of the I-T department. "Over 44 lakh filers have potential tax liabilities.
Feb 28, 2015 at 15:47 | Source: Moneycontrol.com
Despite no apparent mention of income tax incentive for the common man, finance minister Arun Jaitley provided certain reliefs, that will put extra cash in hands.
Feb 28, 2015 at 08:58 | Source: IBNLive.com
Income tax slabs have always been the most awaited section of the Budget. With the economy showing signs of recovering from the slowdown, speculations are rife if Jaitley will raise the slabs giving a relief to the tax payers across the spectrum.
Feb 26, 2015 at 20:45 | Source: PTI
At the same time, as part of streamlining the GST base, the service tax net could be broadened further by removing some services from exempt/abatement list," it said in a note Today.
Feb 10, 2015 at 17:03 | Source: Moneycontrol.com
Fixed income investors have to realign their investment strategy in FY2015-2016 as interest rates begin downward journey. Investors will be better off choosing investment options such as mutual funds, bonds, fixed deposits based on their tax slabs and risk taking ability.
Dec 16, 2014 at 17:14 | Source: Moneycontrol.com
Very often no tax deducted at source (TDS) is taken to mean no-tax liability, which is a big mistake. Individuals have to include interest paid to them without deducting tax at source to their taxable income. On the total income so arrived, they are supposed to pay income tax depending on their income tax slab.
Aug 22, 2014 at 17:44 | Source: PTI
KV Chowdary, Chairman of CBDT said the net income tax collection during the first four months stood at over Rs 1.51 lakh crore after accounting refunds of nearly Rs 54,000 crore