IT department updates the income tax return forms 2 and 5 again

The income tax department has recently made further changes to the income…

FinMin: Task force for direct tax code is all set to submit report by July 31

Finance Minister, Nirmala Sitharaman, said that the work on direct tax code…
Tax

Mandatory disclosing of LTCG making ITR filing tough

The government has made it mandatory to disclose long-term capital gains (LTCG)…

Is it possible to reduce the income disparity in India?

Income inequality is the gap between the richest and the poorest. It…

Income tax department may extend ITR filing deadline of July 31

The income tax department is feeling the pressure to grant more time…
CBDT

Unsolved IT litigations pile up at CIT-Appeal level, CBDT focuses

Central Board of Direct Tax (CBDT) is set to focus on litigation…

Income Tax Benefits Likely to Be Announced in Union Budget 2019-20

The Union Budget is due to be announced on July 05, 2019…

AMFI Seeks Clarity on Taxability of Side-Pocketed Funds

The Association of Mutual Funds of India (AMFI) released their list of…

Budget 2019: Does tax slabs change at all for salaried individuals?

As the budget season is nearing, the hopes of individual taxpayers are…

IT department suspects Misuse of Tax Exemption on Agriculture Income

The primary occupation in India is agriculture. The government comes up with…