Monday, 28 November, 2022
TopicIncome Tax

Topic: Income Tax

Finance Ministry summons Infosys CEO Salil Parekh over persistent glitches on I-T website

The new income tax e-filing portal has reported issues since its launch on 7 June and has been 'not available' since 21 August.

Donations to SGPC gurdwaras eligible for tax exemption, income tax tribunal says

Twelve years after Shiromani Gurdwara Parbandhak Committee filed an appeal calling for exemptions to its donors, an IT tribunal Monday gave approval for the exemption under Section 80G of IT Act.

Tax filing deadline nears but new I-T portal faces glitches even 2 months after launch

Taxpayers and chartered accountants are struggling to file I-T returns on the new portal developed by Infosys.

Income Tax department issues 3 email IDs to register taxpayers’ grievances

Under the technology-driven faceless schemes, a taxpayer will not be required to visit IT department's office or meet an official for income tax related complaints.

Govt exempts tax on employee’s Covid treatment, extends I-T compliance deadlines

The Income Tax department also said the ex-gratia payment received from the employer by family members in case of death of an employee due to Covid would be exempt from income tax.

Nirmala Sitharaman, Infosys officials meet to review glitches in income tax e-filing portal

The portal, which was launched on 7 June, is riddled with problem including long logging time, inability to generate OTP for Aadhaar validation & non-availability of previous ITRs.

I-T tribunal says no tax on homemakers who deposited less than Rs 2.5 lakh during demonetisation

The tribunal says women accumulated cash through various sources, which they had to deposit in bank accounts during demonetisation & therefore, it cannot be treated as taxable income.

Some of America’s uber-rich dodging taxman, pay next to no income tax, ProPublica finds

Jeff Bezos paid no income tax in 2007 & 2011. Elon Musk's income tax bill came to zero in 2018, and financier George Soros went 3 straight years without paying federal income tax.

FM Nirmala Sitharaman asks Infosys to fix technical glitch on new e-filing portal

Sitharaman took to Twitter to announce the launch of the new portal that went live Monday evening, but soon, her timeline was flooded with user complaints.

Covid, lower rates push corporate tax collections below personal tax for first time in years

Corporate tax collections levied on profits of firms contracted 18% in 2020-21 to a 5-year low. There has been a sharp fall in firms filing tax returns for income ranges of above Rs 5 lakh.

On Camera

YourTurn

Former Pakistani Army Chief Qamar Javed Bajwa | ISPR/Twitter

On my last day as Pakistan Army Chief, I leave Asim Munir with bigger problems than my billions

Does Indian Army Chief Gen Pande have no interest in making CPEC, cheese pizza economic corridor? I suggest him this corridor against China. Learn from us.
Representational image of workers at a construction site | ANI

GDP data this week will indicate FY23 outlook. But analysis shows growth still below pre-Covid yrs

Analysis of industrial & consumer data not included in usual ‘high-frequency indicators’ shows although demand seems to have recovered from pandemic, it remains weak.

Defence

Illustration: Soham Sen | The Print

Modi govt moves with Arunachal Frontier Highway, among India’s ‘toughest’ projects yet, China in mind

The 2,000 km-long highway will be of strategic importance to military. Same equipment used on other side of LAC being deployed to carry out work on tough terrain, say officials.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.