Over Rs 2,000 Crore Uncovered In Income Tax Raids In Andhra, Telangana
Friday, February 14, 2020, 11:58 AM
The Income Tax department has said searches conducted over the last week at premises belonging to three infrastructure firms based in Andhra Pradesh and Telangana have led to the detection of unaccounted income of more than Rs 2,000 crore. Search and seizure raids were carried out on February 6 at Hyderabad, Vijayawada, Cuddapah, Visakhapatnam, Delhi and Pune. More than 40 premises were covered.
Income Tax Slab: You Will Now Pay Rs 1.95 Lakh In Tax On Rs 15 Lakh Income In This Case
Tuesday, February 4, 2020, 8:01 AM
According to Budget 2020 proposals, annual gross income of Rs 15 lakh will lead to a tax liability of Rs 1.95 lakh, but there's a catch: the assessee has to give up a range of income tax exemptions and deductions (including Section 80C). First things first, the new income tax slabs proposed in Budget 2020 are optional, subject to certain conditions.
"Excessive Tax Is Social Injustice By Government": Chief Justice SA Bobde
Saturday, January 25, 2020, 9:14 AM
With only a-few-days to go for the Union-Budget, CJI SA Bobde asked the central-government to take steps to reduce the tax-burden on citizens and ensure the country's all-round development. Speaking at an event held to mark the 79th-Foundation-ceremony of the Income-Tax-Appellate-Tribunal in the national capital, Chief-Justice Bobde said that "excessive taxation" can be seen as a form of social injustice imposed on the people.