The Income Tax Department has reported the new Form 26AS would have additional details of taxpayers’ high-value financial transactions undertaken during a financial year and would facilitate voluntary compliance and ease of e-filing of I-T returns. Daily Current Affairs Quiz 2020 Key-Points Form 26AS is an annual consolidated tax statement that can be accessed from […]
The Income Tax department has made history with a quantum jump in the e-filing of Income–Tax Returns (ITRs) with an all time high record of 49 lakh 29 thousand and 121 ITRs filed in a single day on 31st August 2019. This has perhaps created a history as the tax administration nowhere in the world
Income Tax department made history with a quantum jump in the e-filing of Income Read More »
The government panel on Direct Tax Code has proposed radical revisions to the personal income tax rates and slabs. It has suggested zero tax levy on annual income between Rs 0-2.5 lakh. Daily Current Affairs Quiz 2019 People earning between Rs 5 lakh and 10 lakh per year may have to pay 10% income tax,
The Central Board of Direct Taxes (CBDT) and all field offices will be observing and celebrating the 159th Income Tax Day i.e. Aaykar Diwas on 24th July, 2019. It was on 24th July, 1860 that Income Tax was introduced for the first time in India by Sir James Wilson to compensate for the losses incurred
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