It was widely expected that Sitharaman would announce higher deductions under Section 80C of the Income Tax Act. However, no such move was forthcoming.
The figure includes income tax refunds of Rs 23,026 crore in 61,53,231 cases and corporate tax refunds of Rs 69,934 crore in 1,69,355 cases, an official Twitter post said.
Read the full statement issued by the Editors Guild of India against the income tax department's 'surveys' conducted Friday at NewsClick, Newslaundry offices in New Delhi.
The IT department said officials are conducting 'survey operations' at business premises of the two portals to verify certain tax payment details and remittances made by them.
The Central Board of Direct Taxes also said that a positive trend has been observed in the various filings on the portal and Rs 1.19 crore Income Tax Returns have been filed so far.
According to an official statement issued Sunday, 93% of the refund claims, of over Rs 15,269 crore, in ITRs filed for the assessment year 2020-21 have been processed till date.
Finance Minister, who met Infosys CEO Salil Parekh, conveyed 'deep disappointment and concern' over the continuing glitches in the new income tax filing portal.
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.
India cannot be blasé about change in any important capital in the world. Let's look at five key areas where US policy matters for India and how it may vary between Harris and Trump.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Troops patrolled up to Patrolling Point (PP) 10 on Monday. Though there are PP 10, 11, 12, 12A & 13 in Depsang Plains, it was decided that only one or two PPs would be patrolled.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
COMMENTS