May 09, 2016 at 16:58 | Source: PTI
Offering the "final opportunity", the department has said taxpayers whose refunds and tax issues are pending for assessment years (AYs) 2009-10, 2010-11, 2011-12, 2012-13, 2013-14 and 2014-15, should immediately authenticate their Income Tax Returns by using either the electronic verification by Aadhaar or bank account-based facility
Feb 29, 2016 at 19:34 | Source: PTI
"The Budget presented by the Modi-led government has no new tax concessions. While there were big expectations on increasing the income-tax slab, no such thing has been announced. This has led to big disappointment among the tax paying middle classes and salaried persons," he said.
Feb 29, 2016 at 15:16 | Source: PTI
On not increasing the tax slab rates, he said there is an attempt to increase the tax base and simplify tax structure.
Feb 29, 2016 at 09:04 | Source: IBNLive.com
There could be some cheer as the Finance Minister may increase income tax slab from Rs 2.5 lakh to Rs 3 lakh.
Feb 26, 2016 at 08:32 | Source: IBNLive.com
The lowest income tax slab is likely to be raised from Rs 2.5 lakh to Rs 3 lakh, which means income up to Rs 3 lakh is likely to be exempt from Income Tax. There are also indications that even the higher IT slabs may be re-jigged.
Feb 25, 2016 at 20:31 | Source: CNBC-TV18
The government plans to hike the recapitalizing funds for the public sector banks. Hike in loan rebate, 100 percent FDI for asset reconstruction companies (ARCs) via the automatic route and sticking to fiscal deficit target of 3.5 percent are also on the cards, say sources.
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.