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income tax act

News Reports

You don’t have to pay full income tax if income exceeds ₹12 lakh by a small amount: Read what is Marginal Relief and how...

Raju Das -
Under the tax structure announced in the budget, marginal relief will be calculated by deducting the amount exceeding ₹12,00,000 from the tax calculated on the entire taxable income
News Reports

If no income tax up to ₹12 lakh, why there are two tax slabs below it: Explained how Income Tax calculation works

Raju Das -
One may ask if there is no income tax up to ₹12 lakh, why there are tax slabs for 4-8 lakh and 8-12 lakh, the reason is I-T is calculated in slabs
News Reports

Income Tax department issues 1700 crores demand notice to Congress Party

ANI -
The Delhi High Court had earlier this week dismissed the party's plea, challenging Income Tax Department's order opening of reassessment proceedings against it for 2017-18, 2018-19, 2019-20, and 2020-21.
Economy and Finance

Budget 2020: Dual tax regime, a complicated tax structure that may require professional help

Guest Author -
Finance Minister Nirmala Sitharaman today announced a new dual regime of taxation for individuals and HUF (Hindu Undivided Family). This is first time in Income tax where such dual regime would be applicable. 
News Reports

Deadline for linking of PAN with Aadhaar extended till end of the year 2019

OpIndia Staff -
Linking of PAN with Aadhaar has been made mandatory and upheld by the SC
Editor's picks

Budget 2019: Here is how people earning upto Rs. 75,000 per month can pay zero income tax

OpIndia Staff -
Taking into account various deductions along with enhanced income tax rebate, incomes upto ₹9,50,000 per year may not need to pay tax
News Reports

Modi govt cracks down on shell companies: 16,500 entities confirmed, another 80,000 under investigation

OpIndia Staff -
The present government has been coming down massively on economic offenders.
News Reports

73,000 deregistered companies deposited Rs 24,000 crore post demonetisation, shows govt data

OpIndia Staff -
Narendra Modi has made the 'war against the black money' as the top priority of the government
News Reports

The crackdown continues : Income Tax Department unearths Rs 3,200 crores TDS scam

OpIndia Staff -
A total of 447 companies are under scanner for not depositing TDS deducted from employees

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