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Wednesday, July 23, 2025
TopicIncome Tax

Topic: Income Tax

Income Tax refunds being held back so that stiff collection targets are met, allege CAs

Tax collection targets were revised upwards by Rs 50,000 crore in the interim budget, and CAs claim officials are also withholding refunds for previous years.

How to pay zero tax on income of upto Rs 10 lakh, thanks to Piyush Goyal’s budget

After today’s interim budget announcement, a person earning upto Rs 10 lakh can pay zero income tax with smart financial management.

Finance minister Piyush Goyal proposes to increase TDS on rent income to Rs 2.4 lakh

While presenting this year's budget, Piyush Goyal further proposed to exempt tax on notional rent for unsold units for two years.

Income Tax department reverses order that would’ve cleared Gandhis in National Herald case

Within three weeks, I-T department reverses circular after BJP MP Subramanian Swamy, among others, raises objections.

Want ‘Make in India’ only — Ahmedabad taxman rants against Chinese water bottles

An Income Tax official shot off a letter to the administration department, calling China ‘exploitative’ & ‘narcissistic’, and asking for Indian-made bottles.

45% increase in e-filing by taxpayers who earn less than Rs 10 lakh a year

The sharp increase in tax filers in the lower income slabs can be mainly attributed to government’s decision to start penalising late filers.

Angel tax makes a comeback, tax department defends notices to start-ups

Start-ups are in the process of making a representation to the government over notices from the Income Tax department.

Govt orders restructuring of income tax dept & review of fresh cadre

The Central Board of Direct Taxes ordered creation of a panel of senior officials to accomplish the task within the next three months.

What happens in an income tax raid in India

There is no separate operation called an income tax ‘raid’. It’s a blanket term to cover searches and seizures.

Income-Tax department needs to stop thinking that it is the ‘real’ IRS

A rupee collected by indirect tax officers has as much worth to the nation’s well-being as a rupee collected by direct tax officers.

On Camera

Air India crash report shows an institutional reform of AAIB and aviation ministry is in order

The civil aviation ministry could have recognised the enormity of the Air India crash and prepared the AAIB and its investigating team for its sensitivities.

India-US set to ink mini trade deal soon, reach understanding on agricultural & dairy products

Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.

Indian firm sets up titanium, superalloy plants to meet global need. Safran, Dassault, BAE line up

PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.

Strategic partner one day, tactical nightmare the next: India’s learning Trumplomacy the hard way

Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.