No need to file I-T returns if income doesn't exceed Rs. 5 lak...

NEW DELHI: A day after Union Finance Minister Arun Jaitley exhibited confidence of surpassing income tax targets, his ministerial colleague has stated that they will use information from other nations to check and curb tax evasion. Minister of ...

Most of us file our income-tax (I-T) returns ‘online’ before the July 31 deadline. Electronic filing (e-filing) is convenient and you can even pay your taxes online QUOTE OF THE WEEK: "Central banker can never be comfortable; we tried to balance between ...

Income Tax Department's attempts to curb tax evasion has led to discovery of R10,792 crore of undisclosed income and seizure of assets worth R808 crore last fiscal, said an

The Income Tax department saw a whopping 127% increase in prosecutions in 2013-14. The number of prosecutions launched during the year was 641.

The Union Finance Minister, Shri Arun Jaitley exhorted the officers of the Income Tax Department to maximize the use of innovative and non-intrusive methods of investigation. He impressed upon the need for skill development and up-gradation to keep pace with ...

Russia could ask its richest citizens tohelp foot thebill forthe annexation ofCrimea bypaying a"solidarity tax" proposed bya group oflawmakers. Deputies fromthe State Duma lower house ofparliament, which is dominated bybackers ofPresident ...

A federal appeals court in Virginia has upheld tax subsidies for low- and middle-income people who buy insurance under the Obama administration's health care reform law. A three-judge panel of the 4th U.S. Circuit Court of Appeals on Tuesday unanimously ...

 India needs to do away with income tax concessions that encourage purchase of housing, say Devesh Kapur and T V Somanathan and Arvind Subramanian. How can India reduce the severe distortions in land regulation and acquisition to ensure that land facilitates rather than impedes development? We propose four policy reforms. Obtaining approvals for land-use change is a major source of corruption. The government must, therefore, legislate to automatically allow non-irrigated agricultural ...

Madhya Pradesh on Tuesday dismissed two IAS officers from service four years after an income-tax raid on their home unearthed disproportionate assets of Rs 41 crore and Rs 3 crore in cash.