The income tax returns filed by individual taxpayers in India earning between Rs 5 lakh and Rs 10 lakh climbed by 295 per cent in the assessment years 2013-14 and 2021-22, showing a positive trend of migration to a higher range of gross total income, according to a report by SBI Research.
The analysis of income tax returns reveals a widening gap between the ultra-rich and the middle class during the tenure of the Modi government. The data speaks volumes--during the financial year 2013-14, the top 1 per cent of income taxpayers collectively accounted for 17 per cent of all inc
The Income Tax Department on Sunday announced that more than six crore ITRs have been filed till date, out of which, nearly 26.76 lakh ITRs have been filed today till 6:30 pm.
Former Karnataka Chief Minister and leader of opposition Siddaramaiah on Wednesday accused the Basavaraj Bommai-led government of taking "40 per cent commission" and giving tenders to those who paid more commission.
Union Finance Minister Nirmala Sitharaman, during the Budget session today, announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime.
New Delhi [India], August 12 (ANI): The Vishwa Hindu Parishad (VHP) Joint General Secretary Dr Surendra Jain on Wednesday accused the Delhi government of engaging in Muslim appeasement and wasting tax-payers money.
New Delhi [India], Apr 9 (ANI): Faceless assessments and appeals along with online facilities provided confidence in tax payers discharging their liabilities which led to direct tax collections surpassing the revised budget estimate for 2020-21, Central Board of Direct Taxes (CBDT) Chairman
New Delhi [India], January 2 (ANI): Goods and Services Tax (GST) e-invoice system has completed journey of three months and has facilitated smooth transition of the tax payers to the new platform, according to the Ministry of Electronics and Information Technology (IT) on Saturday.
New Delhi [India], July 2 (ANI):In order to provide relief to tax-payers, the Income Tax(I-T) Department on Thursday announced that the deadlines for making tax-saving payments/investments for 2019-20 have been extended till July 31, in wake of the COVID-19 pandemic.
New Delhi [India], April 19 (ANI): In order to enable taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to COVID19 pandemic situations, the Central Board of Direct Taxes (CBDT) is revising the return forms for the Fiscal Year 2019-20 (Asse
Faridabad (Haryana) [India], Nov 8 (ANI): Union Finance Minister Nirmala Sitharaman on Friday addressed the 69th batch of Indian Revenue Service (Customs and Central Excise) officials at their passing out ceremony to become officers who can facilitate honest and willing taxpayers and empower