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Topic: Income Tax

Representational image of Union finance ministry | ANI

‘Non-intrusive way’ to catch tax evaders — ministry on move to scan school fee, other payments

I-T dept will analyse expenditure patterns through collected data to look for evasion. But honest taxpayers won’t be impacted, stresses the government.
Under the new proposal, purchases of white goods like TVs worth over Rs 1 lakh would have to be reported | Representational image: ANI

MyGovIndia deletes tweet on bringing jewellery & TV purchases, hotel bills under I-T ambit

The tax department's move had raised concerns over increase in compliance burden for firms, and it's unclear if the govt will go through with the proposal.
Representational image | Dhiraj Singh| Bloomberg

‘Opens door to tax terrorism, increases compliance burden’ — Few takers for new I-T proposal

New I-T proposal aims to widen tax base, seeks to make several additions to the transaction-reporting framework by including purchases of jewellery & white goods worth over Rs 1 lakh.
Prime Minister Narendra Modi, Finance Miniter Nirmala Sitharaman and other officials at the online launch of “Transparent Taxation – Honoring the Honest". | Photo: Twitter

PM launches new faceless I-T assessment & appeal, charter to make tax process ‘painless’

Modi says the reforms are meant to reduce govt interference in taxpayers' lives and encourage more people to pay their taxes. The charter & faceless assessment are effective from today.
(Photo for Representation)

With tax revenues at only 8% of full year targets, India’s fiscal deficit zooms in Q1

Data released by the Controller General of Accounts showed that contraction in tax revenues and rising expenditures pushed the fiscal deficit to over Rs 6.6 lakh crore in first quarter.
Fuel Station

Modi govt’s petrol, diesel tax hikes seen putting the brakes on India’s economic recovery

The high prices of petrol and diesel are adding another headwind to India’s economy facing the biggest contraction in four decades.
Representational image of Union finance ministry | ANI

3 top IRS officers stripped of charge after report on super rich tax, Covid-19 cess

I-T department has issued charge sheets to the officers for their complicity in a report that was prepared by 50 IRS officers, and causing "embarrassment" to govt.
File image of a sign outside the Income Tax office | Photo: Brent Lewin | Bloomberg

Modi govt message to taxmen — ensure 100% targets are met, or forget good postings

Modi govt wants to earn Rs 2 lakh crore from ‘Vivaad Se Vishwas’ scheme for disputed tax cases, and has told field officers their appraisals will depend on it.
Illustration by Arindam Mukherjee | ThePrint Team

It’s actually Modi govt’s fault that only 1.5 crore Indians pay income tax

Modi is right to complain about the low number of taxpayers, but it is his govt that doubled the exemption threshold to Rs 5 lakh ahead of 2019 polls.
Finance Minister Nirmala Sitharaman arrives at the Parliament to present the 2019 Budget. | Photo: Suraj Singh Bisht | ThePrint

Budget 2020 rules front pages, Express sees ‘creeping socialism’, Hindu on ‘bat hunters’

A round up of newspaper front pages from across the country.

On Camera

A Harley Davidson dealership (Representational Image ) | Photographer: David Paul Morris | Bloomberg

Harley-Davidson riding away reflects poorly on both US icon and Modi’s ‘Make in India’

Modi’s ambitious plans to ‘Make in India’ could have been helped by a symbolic gesture to hold on to Harley, a premium manufacturer with an outsize brand.

Defence

Representational image | ANI

India, China working on Ladakh peace formula — alternate week patrolling, after disengagement

Patrolling in alternate weeks has been the established practice in the Northeast, and has worked well, barring the occasional face-off.
Illustration: Soham Sen | ThePrint

Suspect all, fix all? Is that the motto of our new ‘National Suspicion State’?

It’s not just Modi government or BJP, but even state governments, judiciary are getting caught in a ‘we suspect all’ mindset. Is India becoming a National Suspicion State?