The setting up of national e-assessment centre is a step for better taxpayer service, reduction of taxpayer grievances in line with the prime minister's vision of \"Digital India\" and promotion of ease of doing business, the finance ministry said

CBDT-member Akhilesh Ranjan-led panel has recommended introducing a 10 per cent tax rate slab for annual income between Rs 2.5 lakh and Rs 10 lakh followed by a 20 per cent slab for the Rs 10-20 lakh income bracket and a 30 per cent, or higher, slab for higher income levels.

Cases where a taxman has conducted raids and instances categorised under \"extraordinary circumstances\" shall also not be covered under the faceless assessment system set to be launched on October 8 in the country

The Central Board of Direct Taxes (CBDT) will on Thursday conduct a pan-India review of the ambitious e-assessment system for income-tax payers before rolling it out next month.

Why GST collections have been short of target. And why they may not pick up any time soon

ITR filing last date: Late filers will be required to pay a penalty if taxes are filed after August 31.

Days after the meeting between President Donald Trump and Pakistan Prime Minister Imran Khan, the Pentagon has notified the Congress of its decision to approve military sales worth USD 125 million that would result in the monitoring of the F-16 fighter jets of Pakistan.

Speaking on the 159th Income Tax Day today, the finance minister stressed on the need for better information sharing between the three agencies so that only those avoiding paying taxes are being dealt with severely and not every other taxpayer is harassed.

Income Tax deadline extended: Initially, the last date was July 31. The July 31 deadline was set for most individuals and HUFs.

A new income tax filer is defined as a person who is not included in the tax filing base at the beginning of the year but subsequently files his/her income tax return during the fiscal. In FY19, about 1.10 crore new tax filers came into the net.

The government has initiated or proposed to initiate projects to further improve the technology backbone of the Income Tax department which would result in enhanced time-bound services to the taxpayers in addition to increasing their voluntary compliance.