Tax News

Here is the list of 10 countries in the world that does not levy any personal income tax from its citizens.

The revised proposal is expected to benefit around 2.9 million Indians living in the U.S.—the second-largest immigrant group in the country, according to the Migration Policy Institute.

In previous years, the Ahmedabad Municipal Corporation (AMC) has seen a steady rise in property tax collections under the Advance Property Tax Rebate Scheme. 

Several deadlines related to personal taxation, GST are set for the month of May. Check out the listicle.

The Non-corporate tax collections surged to Rs 13.73 crore from Rs 11.68 lakh crore last fiscal year. 

The notification shall take effect immediately. TCS, or Tax Collected at Source, is a tax payable by the seller but collected from the buyer.

Receiving a notice from the Income Tax Department can feel stressful, even when you've filed your returns correctly and on time. But certain high-value or suspicious transactions can still put you on their radar. Here's a reader-friendly guide to six financial moves that may result in a tax notice—and how to stay on the safe side.  

The Centre devolves tax revenue to states in accordance with the recommendations of the Finance Commission. 

India’s net direct tax collections, comprising corporate tax and personal income tax, shot up by a robust 15.4 per cent to Rs 12.1 lakh crore, from April 1 to November 10 during the current financial year, according to the latest figures released by the CBDT.

Net corporate tax collections of Rs 5.10 lakh crore and non-corporate taxes, such as Rs 6.62 lakh crore paid by individuals, HUFs, and firms.

From tomorrow, i.e 1 October 2024, several proposals announced by Finance Minister Nirmala Sitharaman during her Budget 2024-25 announcement will come into effect.

The rules pertaining to Direct Tax Vivad Se Vishwas Rules 2024, which will provide lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’.

Here Are 6 Income Tax Rules That Will Be Effective From October 1

The Central Board of Direct Taxes (CBDT) has notifies Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, that provides for lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’.

The Finance Minister proposed some measures in the Budget to signal that new GST 2.0 will unlock trade potential and further ease compliances in the tax laws to foster further economic growth. 

The Mahindra & Mahindra retained market leadership in SUVs with 21.6 per cent revenue market share and in LCVs in the more than 3.5 tonnes category, it crossed 50.9 per cent volume market share. 

Income Tax Department has taken a new initiative towards ease of compliance and enhanced taxpayer services.