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Income-Tax News

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Chinese national Luo Sang, busted by I-T Dept, was arrested by Delhi Police for spying in 2018 Luo Sang took a fake identity 'Charlie Peng' in India Delhi Police had alleged that 'Charlie Peng' was spying for China and running money laundering and hawala transaction businesses 'Charlie Peng' had even married a Manipuri girl to make the process of his acquiring an Indian passport easier
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The total estimated expenditure to be born by the government is 33.64 percent of India's total Defense Budget at Rs 4,31,010.79 crore.
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The Finance Ministry on Friday announced that corporate tax rates will be slashed to 22 percent for domestic companies and 15 percent for new domestic manufacturing companies.
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The effective tax rate for these companies shall be 25.17% inclusive of surcharge & cess. Also, such companies shall not be required to pay Minimum Alternate Tax.
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The last date for filing income-tax returns has been extended to August 5.






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