Tag: Income Tax (IT)

Bikaner Wool Traders Urge Centre’s Intervention as US Imposes 50% Tariffs

“The carpet industry was exempted from income tax till 1996. We need such relief again. Orders are being cancelled, and if the government does not step in, the industry will suffer irreparably,” Kala told ANI.

September 3, 2025

Personal income tax collection overtakes corporate tax: Report

The share of personal income tax in total direct taxes rose sharply from 38.1 per cent in FY14 to 53.4 per cent in FY24, while corporate taxes declined from 61.9 per cent to 46.6 per cent over the same period.

August 27, 2025

Big Relief for Middle Class: No Income Tax on Earnings Up to Rs 12 Lakh

For salaried taxpayers, the income tax exemption will extend up to Rs 12.75 lakh, factoring in a Rs 75,000 standard deduction.

February 1, 2025

“Income tax raids common since 2014,” says Jharkhand CM Hemant Soren, questions timing ahead of elections

He went on to say that he had spoken several times about the state of constitutional agencies and how they were functioning in the country.

November 10, 2024

Central Board of Direct Taxes extends deadline for filing audit reports of FY24 to October 7

According to a circular (No. 10/2024, reference 225/205/2024-ITA-II) issued by the CBDT on Sunday, the deadline for filing these reports has been pushed from September 30 to October 7, this year.

September 30, 2024

Four Kudo India National Winners and World Cup Athletes Appointed as Income Tax Officers in Mumbai

Expressing his joy and pride, Akshay Kumar shared on social media, "Students from my Kudo academy securing positions in the Income Tax Department has made me very happy and emotional."

June 29, 2024

Income Tax seize Rs 26 crore cash after raids against Nashik-based jewellers

According to IT department officials, about Rs 26 crore in cash and documents of unaccounted "wealth" worth Rs 90 crore have been seized during the searches.

May 26, 2024

I-T Dept detects cases of tax not being fully paid, fixes March 15 deadline to pay up

The Income Tax Department receives information of specified financial transactions of taxpayers from various sources.

March 10, 2024

Powerloom weavers in TN on day-long strike to protest I-T rule amendment

According to the new I-T amendment, if a buyer has not paid his/her dues to micro or small-scale weavers for more than 45 days by March 31, 2024, the outstanding amount will be disallowed as an expenditure.

February 28, 2024

Allahabad HC refuses to recognise those paying GST, I-T as ‘slum dwellers’

In the course of hearing the bench had segregated the matters of these well-to-do petitioners from poor slum dwellers.

February 28, 2024