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Friday, July 25, 2025
TopicIncome Tax

Topic: Income Tax

Incomes of Indians were shrinking even before Covid, pandemic will only make it worse

Tax returns filed by those earning above Rs 50 lakh has seen a contraction of nearly 21%. Those earning between Rs 20 lakh-Rs 50 lakh saw an 8% fall.

Modi govt scheme has reduced tax disputes by nearly 30%, but big cases still pose headache

Central PSUs have used the Vivad Se Vishwas scheme to settle relatively larger-sized disputes. But private sector and others have used the scheme to only settle low-value disputes.

In relief to senior citizens, pensioners above 75 years not required to file I-T returns

Finance Minister Nirmala Sitharaman also reduced the time frame for reopening of income tax assessment cases to three years and serious tax fraud cases to 10 years.

Budget 2021 updates: Focus on healthcare, Covid, boost for infra in poll-bound states

137% hike in health and wellness budget, agri infra cess, infra push — Nirmala Sitharaman announced a slew of allocations as she presented Budget 2021 Monday. Follow updates here.

Income Tax return filing deadline extended to 10 January, 2021

The deadline for filing tax returns by businesses too has been extended till 15 February, the finance ministry said in a statement.

Realty tax sop is unlikely to make a dent in metro cities due to caps

Modi govt has raised the differential between circle rate and agreement value of residential properties to 20%. But the sop is limited in scope, say developers.

Income tax dept extends LTC tax exemption to non-central govt employees

The payment of cash allowance, for a maximum of Rs 36,000 per person as deemed LTC, is being extended to employees of state governments, public sector enterprises, banks and private sector.

Govt extends deadline for filing income tax return till 31 December

Earlier in May, the govt had extended the date for filing ITR for FY2019-20 from 31 July to 30 November to give compliance relief to taxpayers.

What series of extensions for CBDT chairpersons under Modi govt means

Pre-Truth — snappy, witty and significant snippets from the world of politics and government.

‘Non-intrusive way’ to catch tax evaders — ministry on move to scan school fee, other payments

I-T dept will analyse expenditure patterns through collected data to look for evasion. But honest taxpayers won’t be impacted, stresses the government.

On Camera

Mumbai blasts acquittal must not set a precedent. It’ll hurt both agencies and judiciary

Several terror attack cases have been concluded by following the methods Maharashtra ATS used in the 7/11 case. It’s surprising that the high court didn’t find them worthy of legal scrutiny.

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.

During Operation Sindoor, Pakistan likely used NATO-style aerial tactics taught by China

The Chinese are said to have hired ex-fighter pilots & air force operators from NATO countries over the past several years to help them fine-tune their operational & flying capabilities.

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.