The donations made to the PM CARES Fund would be eligible to receive 100 percent deduction under Section 80G of the Income Tax Act. This simply means that you won't have to pay any tax on the amount donated to PM CARES Fund

CBDT said that such communications are just a request for seeking an update response from the assessee for the proposed adjustment of refund with the outstanding demand

Coronavirus update: Many wondered if the government would now take the cheque back. Nina Olson, founder of Center for Taxpayer Rights told USA Today that the government would not take the amount back

The Finance Ministry said last week that it will fast track issuance of pending income tax refunds  Rs 5 lakh

The goods and services network (GSTN) said in its release that the tax officers have processed over 10,000 new registrations and about 8,000 refund applications in the first 10 days of lockdown until April 3, working through Virtual Private Network (VPN)

The Goods and Services Tax Network (GSTN) said it has enabled tax officers of different states and union territories (UTs) to access their office during the lockdown period and is providing secured access to the office network on request

Revenue Department says SC has not given clean cheat to NDTV but upheld the government's view by giving it liberty to assess the case by resorting to another provision relating to foreign assets

While some developed economies have adopted anti-tax avoidance GAAR and digital tax on sales of multinationals, India has been deferring operationalisation of GAAR since 2012 and is also handicapped by lack of adequate studies and data

US Senate passed $8.3 billion measure to help tackle outbreak in hopes of reassuring a fearful public and accelerating government's response to virus. Its rapid spread is threatening to upend everyday life in US and across globe

The Budget 2020 has introduced more tax slabs and offers higher limits provided the taxpayer is ready to forego all the existing exemptions and deductions including home loan interest, other tax savings investments

\"Our government's policy is to allow each of the individual to choose where to invest beneficially, than forcing or directing them to invest in certain instruments,\" said FM Sitharaman

With over half a million income-tax cases stuck in litigation at various appellate forums, the success of this scheme is critical to meet the government's twin objective of de-cluttering the judicial bodies and shoring up the much-needed tax collections

The Union Budget had proposed 'Vivad Se Vishwas' Scheme', which aims to resolve 4.83 lakh direct tax disputes pending in various tribunals

Kumar was commenting on the Budget proposal of finance minister Nirmala Sitharaman

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In Budget 2020, Centre proposed to levy TDS at 10 per cent on dividend income paid by a company or mutual fund to shareholders if amount exceeds Rs 5,000 a year

A day after she presented her second Budget, Business Today caught up with Finance Minister Nirmala Sitharaman in her North Block office to find out the reasoning behind the key initiatives in Budget 2020

Budget 2020 taxes: The individual taxpayers are free to choose between the old tax regime and the new tax regime. However, not every taxpayer will find it easy to make this switch. Here's for more

The centre added that abolition of DDT would encourage low-income earners, who have total income up to Rs 5 lakh, to invest in capital market. Also, the decision will provide relief to a large class of investors

Budget 2020: The FM gave a clarification about the purpose of new tax regime, which were--'reduce tax incidence' and 'remove all exemptions'