Press Release dt. 27.02.2019 The head of a prominent organisation allegedly indulging in anti-national activities alongwith his associates were covered in a sensitive search action by the Income Tax Department today. Search action has been conducted at 4 premises in the Valley and 3 in the national capital. The search action has yielded credible evidence…...
Income Tax Refunds
Press Release dt. 02.12.2019 Ministry of Finance The level of income-tax compliance has continuously increased over the last three Financial Years, which is reflected in the number of Income-Tax Returns filed over this period, as given hereunder: - S.No.FinancialTotal Number ofPercentage increase YearIncome Taxover previous Financial Returns filedYear (a)(b)(c)(d) 12015-164.63 Crore14.6% 22016-175.57 Crore20.3% 32017-186.86 Crore23.2% The total amount of refunds made…...
BUDGET SUMMARY WITH MAJOR HIGHLIGHTS OF THE INTERIM BUDGET 2019-20
Ministry of Finance BUDGET SUMMARY WITH MAJOR HIGHLIGHTS OF THE INTERIM BUDGET 2019-20INTERIM BUDGET 2019-20 PRESENTED IN PARLIAMENT TODAY HAS A MAJOR SCHEME FOR FARMERS AND PROVIDES FOR INCOME TAX SOPSTHIS INTERIM BUDGET IS TO BE VIEWED AS A MEDIUM FOR A PROGRESSIVE PATH FOR THE COUNTRY, THE FINANCE MINISTER SAYSSHRI PIYUSH GOYAL SAYS GOVERNMENT…...
Budget 2019 Updates -Direct Tax part
Ministry of Finance Income upto Rs 5 Lakh to get full tax rebate; higher standard deduction proposedRelief of over Rs 23,000 crore to estimated 3 Crore small and middle class tax-payersTDS threshhold on interests on small savings raisedBoost to housing and real estate sectorFM announces a slew of tax reliefs for middle class and small…...
Drafting a New Direct tax Law in India Press Release Dt. 26.11.2018
Task Force for drafting a New Direct Tax Legislation Posted On: 26 NOV 2018 5:06PM by PIB Delhi In order to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country, a Task Force was constituted by the Government of India in November,…...
Double Taxation Avoidance Agreement Press Release dt. 26/11/2018
Ministry of Finance Protocol amending India-China DTAA Posted On: 26 NOV 2018 5:07PM by PIB Delhi The Government of the Republic of India and the Government of the People’s Republic of China have amended the Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for the prevention of fiscal evasion with respect…...