The number of crorepati taxpayers in India increased five times to 2.2 lakh in the income tax assessment year (AY) 2024, compared to AY 2014, according to a new report.
Coming after a wait of almost six months, the Uni on Budget had kindled hopes in many breasts only to be dashed rudely by the Budget document. People who had set their sights on increasing their take home in come were left wondering whether they were better off earlier.
The Revenue Secretary further stated that the efforts of the government will continue to provide a hassle-free, simple, and collaborative approach towards the implementation of taxes.
As a result of these changes, the finance minister said, a salaried employee in the new tax regime stands to save up to Rs 17,500.
The Supreme Court on Friday said that it will hear on July 22 a batch of petitions seeking a probe by a Special Investigation Team (SIT) into the alleged instances of quid pro quo arrangements between corporates and political parties through Electoral Bonds donations.
The Directorate of Enforcement (ED) Mumbai has provisionally attached assets worth Rs 14.02 crore of five accused under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) in the case of an Income Tax Refund fraud of Rs. 263 crore.
Ministers in the Madhya Pradesh government would now be responsible for paying their income tax themselves, as the state government will no longer provide any financial assistance to them for this purpose.
Debendra Sharma, who represented the Aul Assembly constituency in Kendrapara district from 2014 to 2019, sold off his five decimal homestead land in his native village recently.
The Income Tax Bar Association Calcutta, celebrated its centenary at a function held in the Science City auditorium last week.
The IT officials on Saturday left Swarup’s flat after prolonged investigation there since Wednesday.
