Search For "income tax act"
Start-ups with turnover up to Rs 25 crore to get promised tax holiday: CBD
Updated : 6 years, 6 months ago IST
New Delhi [India], Aug 22 (ANI): The Central Board of Direct Taxes (CBDT) clarified on Thursday that small start-ups with turnover up to Rs 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act 1961 which provides deduction for 100 per ce
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Committee submits report on replacing I-T Act with Direct Tax Code
Updated : 6 years, 6 months ago IST
New Delhi [India], Aug 19 (ANI): A committee of experts headed by Central Board of Direct Taxes (CBDT) member Akhilesh Ranjan on Monday submitted its report on replacing the Income Tax Act with a new Direct Tax Code.
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Govt allows Task Force to submit report on direct tax code by Aug 16
Updated : 6 years, 7 months ago IST
New Delhi [India], July 31 (ANI): The government has allowed Task Force which was constituted in November 2017 to review existing Income-tax Act, 1961 and draft a new direct tax law, to submit its report by August 16 in the light of the fact that new members of task force requested for more
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High court asks govt to reply on tax deduction on compensation in MACT cas
Updated : 6 years, 8 months ago IST
New Delhi [India], July 12 (ANI): The Delhi High Court on Friday sought response from the Centre on a plea seeking seting aside of its June 26 order which mandates deduction of tax on the interest accrued on compensation granted by a Motor Accident Claims Tribunal (MACT).
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Govt announces many 'key reforms' to boost domestic apparel sector: Smriti
Updated : 6 years, 8 months ago IST
New Delhi [India], June 21 (ANI): Union Textile Minister Smriti Irani on Friday said the central government announced many "key reforms" such as relaxation of Sections of Income Tax Act and incentives to boost the domestic apparel sector to enable it to compete with multinational brands.
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Four supplementary prosecution complaints filed against Gautam Khaitan in
Updated : 6 years, 9 months ago IST
New Delhi [India], Jun 11 (ANI): On June 7, the Directorate of Income Tax (investigation) has filed four supplementary prosecution complaints for fiscal year 2009-10 to 2012-13 before the income-tax special court against Gautam Khaitan, who is also one of the accused in the Rs 3,600 crore Ag
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After failing to meet Rs 12 lakh cr target, I-T Dept sets eyes on cash tra
Updated : 6 years, 10 months ago IST
New Delhi [India], Apr 20 (ANI): Failing to meet direct tax collections target, the Income Tax (I-T) Department has started surgical strikes against cash transactions.
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Government raises age cap of start-ups from 7 to 10 years
Updated : 7 years ago IST
New Delhi [India], Feb 19 (ANI): A business entity will now be considered a start-up upto 10 years from its date of incorporation or registration instead of the existing period of 7 years, the government said on Tuesday.
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CBDT clarifies stance on recovery of Rs 36 lakhs from start-up
Updated : 7 years, 1 month ago IST
New Delhi [India], Feb 9 (ANI): Central Board of Direct Taxes (CBDT) on Friday clarified that Rs 36 lakh have been recovered from a start-up, namely, Travel Khana as part of recovery of outstanding demand on account of Angel Tax.
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Awareness campaign for tribals on Income Tax Act soon
Updated : 7 years, 2 months ago IST
New Delhi [India], Jan 5 (ANI): The Income Tax Department is soon going to start a massive awareness campaign for tribals of North-East Region comprising seven states.
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CBDT appoints Akhilesh Ranjan as Head of Direct Tax task force
Updated : 7 years, 3 months ago IST
New Delhi [India], Nov 26 (ANI): Central Board of Direct Taxation on Monday announced the appointment of Akhilesh Ranjan as Convenor of the Task Force that was constituted by the Government of India in November, 2017.
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Centre proposes amendments in 2C, 2CA under Income-tax Rules
Updated : 7 years, 4 months ago IST
New Delhi [India], Oct 29 (ANI): The Centre on Monday proposed a slew of amendments in rules 2C and 2CA, and Form No 56 and Form No 10G under the Income-tax Rules, 1962.
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