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.
A total of 6.77 crore income tax returns (ITRs) for assessment year 2023-24 were filed till July 31, the Income Tax Department said on Tuesday.
Union Finance Minister Nirmala Sitharaman on Monday said that about one lakh notices were sent in cases of non-filing of returns and misrepresentation of income.
Shree Cement on Wednesday received a letter from the office of Regional Director (NWR), Ministry of Corporate affairs (MCA), informing about order of inspection under Section 206(5) of the Companies Act, 2013.
A YouTuber from Bareilly, Uttar Pradesh, Taslim has been running a YouTube channel for years and has made close to Rs 1 crore.
A special team of the Income Tax (I-T)department was conducting raids at the premises of the arrested Tamil Nadu minister, Senthil Balaji's friend, Mani's business premises 'Kongu Mess' at Karur, said sources on Tuesday.
