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Saturday, March 16, 2024
TopicIncome Tax

Topic: Income Tax

Income inequality reducing, one-third tax filers in bottom slab moved up to higher levels since 2014

Report released by State Bank of India Monday shows that those at the bottom of India’s tax slabs have seen incomes grow, while the share of 'ultra-rich' in total income has fallen.

What happens to cash seized in income tax raids? A look as Congress MP-linked ‘Rs 350cr’ op goes on

An income tax department operation under way for a week and counting has been in the news for seizures described as being34weds among the highest ever.

More Indians filing tax returns but only 1-2% of population actually pays income tax, shows govt data

Data presented in Parliament shows income tax compliance is increasing due to govt making better use of GST data & TDS mechanism, but bulk of tax filers have 0 tax incidence.

Owaisi just challenged Modi to scrap Hindu Undivided Family. What it is & how it helps save on taxes

Responding to PM Modi’s comments on Uniform Civil Code, Owaisi said HUFs provide tax relief to Hindus. But it has significant downsides, such as being prone to family squabbles.

Budget 2023: An election-year bonus for the super-rich. No, Modi govt hasn’t lost it

See the political messaging in this budget. It is an uncluttered continuation from last year and is a statement of confidence, bordering on overconfidence.

‘Hum do, Humare do,’ Shatrughan Sinha’s dig at Modi govt’s new income tax regime

The TMC leader alleged that the Union Budget 2023 presented in Parliament Wednesday has nothing special for the middle class.

13 % increase in India’s defense budget is not enough to afford its military needs

ThePrint view on the most important issues.

Budget 2023: Income tax reduced — new exemption limit Rs 3 lakh, tax rebate up to Rs 7 lakh

Finance Minister Nirmala Sitharaman presented this government’s final full-fledged Budget in Parliament Wednesday.

Indian taxpayers are ‘dragged’ into paying higher income tax. Govt must factor in inflation

Inflation does not affect everyone equally and the taxpayer with the lowest income is most adversely affected under the new tax regime.

Taxing farmers’ income is ‘necessary’, says Chairman of PM’s Economic Advisory Council

In an article, Bibek Debroy says that taxing farmers’ incomes should be the states’ responsibility and the reason it is not already done is due to political clout of large farmers.

On Camera

Electoral Bonds data by SBI needs different levels of inquiry: Ashok Lavasa

The setting up of a National Election Fund is a suggestion that needs serious consideration but can it eliminate or minimize the use of black money in elections?

Complaints to RBI ombudsman up 68% in FY23, banks biggest cause for customer grievances

Data shows large public sector banks received highest number of complaints in absolute terms, but fared better than several private banks when looked at on complaints-per-branch basis.

Pakistan Navy gets its first spy ship, PNS Rizwan, courtesy China 

With this ship, smaller than the Indian counterpart, Pakistan has joined an elite list of countries to operate these ships, including India, France, the US, the UK, Russia, and China.

CAA comes not with a bang, but with a whimper. Without NRC, it will fade into academic debate

For BJP, CAA was strategic move that did not quite work out because those it would benefit could’ve been accommodated under existing laws, and new entrants would remain excluded.