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.
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.
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.
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.
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.
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.
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.
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.
India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
COMMENTS