Latest Updates Around The World
In a setback for actor-turned-politician and TVK chief Vijay, the Madras High Court on Friday dismissed his petition challenging an Income Tax Department order imposing a fine of Rs 1.50 crore for alleged non-disclosure of income in 2015-16. The case pertains to additional income of Rs 15 crore which, according to the department, was not […]
To protect minority shareholders and curb tax arbitrage by promoters, Finance Minister Nirmala Sitharaman on Sunday announced a major overhaul of the tax regime for share buybacks. Presenting the Union Budget 2026-27, Sitharaman said buybacks will be taxed as capital gains for all categories of shareholders. “In the interest of minority shareholders, I propose to […]
AHMEDABAD: The ongoing search by the income tax (IT) department for real estate groups from the city continued on the third day. The officials remained tight-lipped about the seizures made in the case so far as it is likely that the bank accounts and locker details will be verified, sources said. The search began on […]
Net direct tax collection grew by around 8.82 per cent to over Rs 18.38 lakh crore in the current fiscal till January 11, due to slower refunds and better corporate tax hike.Data released by the Income Tax Department on Monday showed that net corporate tax collections rose 12.4 per cent to over Rs 8.63 lakh […]
Shares of Brigade Enterprises fell as much as 2% to the day’s low of Rs 868.10 on the BSE on Monday, December 15, after it announced that the Income Tax Department had initiated searches at its registered office and multiple locations related to the company. The searches started on December 9 and ended on December […]
Although crypto -currency is neither legal nor illegal in India, transactions and income thereof are taxed as virtual digital assets The Ministry of Finance of the Union told the Rajya Sabha on Tuesday that the income tax department sent more than 44,000 e emails and messages to taxpayers who have not announced crypto transactions in […]
The concept of TDS was introduced with the aim of collecting taxes from the source of income. Seventeen types of payments made to seven categories of companies that work in the International Financial Services Center (IFSC) are exempt from tax deducted from Source (TDS), has said the income tax department. The exemption applies from 1 […]
