Ashneer Grover. (File Photo) Only 45 lakh income taxpayers contribute 80% of the total income tax Ashneer Grover, the co-founder of BharatPe and former judge of the reality show Shark Tank India, on Wednesday said taxpayers is the meaningless minority as far as elections are concerned. He also said you can say anything on tax … Read more
New Delhi: As a row erupted over the TMC’s claim of a “raid” by income tax officials targeting a helicopter used by party general secretary Abhishek Banerjee, I-T department sources claimed on Sunday that there was no enforcement action such as search or survey and the TMC leader wasn’t even present in the chopper. To … Read more
Maskot | Maskot | Getty Images The bulk of Americans buying qualifying new electric vehicles are opting to receive an associated tax credit upfront from the car dealer instead of waiting until tax season, according to new Treasury Department data. About 90% of consumers who qualify for a “new clean vehicle” tax credit — … Read more
New Delhi: Central Board of Direct Taxes (CBDT) on Thursday said that has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards. The ITR-1, ITR-2 and ITR-4, commonly used by taxpayers are available on the e-filing portal from 1st April, … Read more
NEW DELHI: Bengal chief minister Mamata Banerjee on Thursday launched a scathing attack on the Bharatiya Janata Party (BJP) while addressing a public rally in Cooch Behar ahead of the Lok Sabha elections.In a no-holds-barred attack on the BJP, the Trinamool Congress (TMC) supremo alleged that the central probe agencies, BSF, and CISF are working … Read more
The Congress accused the income tax department of indulging in double standards by slapping it with income tax demand notice of Rs 1,823.08 crore while “overlooking bigger violations” by the ruling BJP which, it said, required the ruling party to pay Rs 4,600 crore. The opposition party accused the ruling establishment of indulging in “tax … Read more
The Canada Revenue Agency (CRA) is hitting pause on a new “bare trust” reporting requirement with just a few days remaining before the deadline. New reporting requirements for such trust arrangements were introduced for the 2024 tax season. Anyone with a bare trust was required to file a T3 tax return form naming the trustees, … Read more
Last Updated: March 22, 2024, 17:49 IST Congress leaders Kamal Nath and Digvijay Singh have been mentioned in dubious transactions reported by I-T department. (PTI) Citing transactions around Lok Sabha Elections 2019 and Madhya Pradesh Assembly elections in 2018 and 2013, the I-T department says Rs 20 crore was transferred from Kamal Nath’s official residence … Read more
Last Updated: March 19, 2024, 21:15 IST On a gross basis, before adjusting refunds, the direct tax collection stood at Rs 22.27 lakh crore. (Representative Image) On a gross basis, before adjusting refunds, the direct tax collection stood at Rs 22.27 lakh crore, an 18.74 per cent growth over the year-ago period The net direct … Read more
Last Updated: March 15, 2024, 12:43 IST Advance tax: Last instalment deadline on March 15 Missing the payment deadline would mean the taxpayers will be liable to penalties under Sections 234B and 243C. Income tax alert: March 15 is the due date to pay advance tax. Taxpayers should carefully calculate the advance tax liability. Advance … Read more
