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 Central government has let loose the Enforcement Directorate (ED) in Chhattisgarh, raided our leaders, arrested some of them, but we managed to make the convention (plenary) successful,” the Congress president said.
Income Tax officials are conducting a survey on the Indian offices of the British public broadcaster BBC, sources said on…
Deputy Secretary Saumya Chaurasia was detained after months of grilling and raids by the federal agencies including the Income Tax.
He also directed the officials to register complaints of excesses perpetrated on officials and businessmen detained by the ED.
A Finance Ministry release said Direct Tax collections up to November 10, 2022, show that gross collections are at Rs. 10.54 lakh crore, which is 30.69 per cent higher than the gross collections for the corresponding period of last year.
