Sikkim, a small state in northeastern India, is exempted from paying income tax under its own tax laws, which were established in 1948, making it unique in the country.
The Income Tax department's survey at BBC offices triggered massive outrage as Opposition parties targeted the government calling the move as a dictatorship.
The Income Tax Department raided the offices of BBC in Delhi and Mumbai on Tuesday amidst the ongoing controversy over BBC's documentary 'India: The Modi Question'. After which this matter caught fire.
The Income Tax raided the BBC's Delhi and Mumbai offices amid the ongoing controversy over the BBC documentary 'India: The Modi Question' released last month. However, it is not yet clear what the Income Tax Department has found during the investigation?
The Central Board of Direct Taxes (CBDT) issued Income Tax return forms for individuals, Hindu Undivided Families, businesses, and others for the fiscal year 2022-23, earlier than last year, providing ample time to prepare their returns.
The Delhi office of British Broadcasting Corporation (BBC) which is in the HT House building on KG Marg was on Tuesday searched by the Income Tax department.
Budget 2023: In a big relief for the common man, the Modi government on Wednesday made five major announcements in the personal income tax space including increasing rebate up to Rs 7 lakh per annum.
Saving in insurance should not be limited to saving taxes, but consumers should understand that insurance is a safety net that can protect them in planned and unplanned circumstances
Budget 2023: People across industries are expecting changes in the tax regime as the Finance Minister Nirmala Sitharaman would be presenting the upcoming union budget before parliament on February 1.
If a resident's annual total income exceeds the basic exemption limit, an ITR must be filed in accordance with income tax laws.
In the final full budget before the 2024 general elections, the central government may make a few minor adjustments to the new income tax system.
Earlier, former US President Donald Trump said he closed all his bank accounts in China before he began his 2016 campaign for the White House.
Budget 2023: As of now, the maximum slab of income which is exempted from the purview of income tax is Rs 2.5 lakh.
ITR reforms news: Taxation of the digital economy, ensuring developing countries get their fair share of taxes and global coordination for taxation of cryptocurrencies would be one of the priority areas as India is all set to host the leaders of G-20 countries next year.
While Aadhaar is issued by the Unique Identification Authority of India to a resident of India, PAN is a 10-digit alphanumeric number allotted by the IT Department to a person, firm or entity.
The raids carried out by Central agencies often get a political color as TRS keeps claiming that BJP-led Central government uses agencies as a political tool.
Jaimangal had earlier lodged a police complaint saying that three of his party legislators -- Irfan Ansari, Rajesh Kachchap and Naman Bixal Kongari, were planning to topple the UPA government in Jharkhand.
CBDT extends ITR due date: CBDT, the tax administration arm of the government, had extended the deadline for filing audit reports by 7 days last month to October 7.
Income Tax: Under the income tax act, those taxpayers who need to get their accounts audited by a chartered accountant are required to file the tax audit report with the I-T department by September 30.
I-T raids: The department gathered "evidences of out-of-books cash transactions and on-money receipts and several documents and electronic data indicate routing of unaccounted money through shell companies".
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