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Home Tag Archives: Income Tax Department of India

Tag Archives: Income Tax Department of India

Here are the latest income tax slabs and rates

By FabNewz Team
January 10, 2019
in :  Business, Finance
income tax

Income tax is nothing but a certain percentage of the income that taxpayers pay to the government so that this money can be used for development projects and for the betterment of the public overall. The division of income tax into categories and sub-categories, based on the amount of income and the age of the taxpayer is known as the …

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Budget 2017: Here Are 10 Tax Saving Tips For You To Beat The Taxman!

By FabNewz Team
June 13, 2017
in :  Business, Finance
Saving Tips

Post the union budget, the one question on everyone’s minds is how an average salaried Indian will save taxes and maximize his or her income. We covered the budget yesterday in real time here and we also welcomed the tax breaks given to the average salaried Indian. Despite the tax breaks, however, the prevailing high rates of inflation demands that maximum …

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Budget 2017: Here Are 10 Tax Saving Tips For You To Beat The Taxman!

By FabNewz Team
February 19, 2017
in :  Business, Finance
Tax Saving Tips

Post the union budget, the one question on everyone’s minds is how an average salaried Indian will save taxes and maximize his or her income. We covered the budget yesterday in real time here and we also welcomed the tax breaks given to the average salaried Indian. Despite the tax breaks, however, the prevailing high rates of inflation demands that maximum …

Read More

Tax Saving Tips For Startups: A Step By Step Guide To Save Taxes Post Budget 2017

By FabNewz Team
February 6, 2017
in :  Business, Finance
Tax Saving Tips For Startups: A Step By Step Guide To Save Taxes Post Budget 2017

Startups, as a rule, need a caring hand which guides them on the path of doing business and growing. In light of the recent union budget and the various incentives the central government has given to enrich the startup culture in India, we have prepared a small list of the various ways in which startups in India can get tax …

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Tax Saving Tips For Startups: A Step By Step Guide To Save Taxes Post Budget 2017

By FabNewz Team
February 1, 2017
in :  Finance
tax saving tips

Startups, as a rule, need a caring hand which guides them on the path of doing business and growing. In light of the recent union budget and the various incentives the central government has given to enrich the startup culture in India, we have prepared a small list of the various ways in which startups in India can get tax …

Read More

Rs 3-4 Lakh Crores of Black Money May Have Been Deposited Post Demonetisation, IT Department Says

By FabNewz Team
January 6, 2017
in :  National
Money

The Income Tax department estimates that an astounding Rs. 3-4 lakh crore of tax evaded income, black money in common jargon, may have been deposited after demonetisation was announced on November 8 last year and Rs. 500 and 1000 currency notes were rendered illegal tender. The report comes in the wake of information that suggests 97% of the total money …

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Election Commission: Ban Anonymous Contributions Above Rs 2000 To Political Parties

By FabNewz 2016
December 7, 2016
in :  National
Election Commission

The Election Commission has sought to eliminate the flow of black money into the electoral process of the country, curb money laundering in general and reduce instances of huge undisclosed wealth by decidingto amend laws that allow tax-exempt contributions to political parties. The EC has asked the centre to ban anonymous contributions to political parties amounts equal to or more …

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I-T depatement tightens noose around abnormal deposits & property buys

By FabNewz 2016
November 26, 2016
in :  National
i-t-

The government has on Wednesday asked all banks and post offices to report to the Income Tax Department of all deposits above Rs 2.5 lakh in savings accounts, as well as deposits exceeding  Rs 12.5 lakh in current accounts, made during the 50-day window till December the 30th  for depositing demonetised high-value notes. Banks and post offices now have to file a relevant statement …

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Baaubali Production Unit’s Houses and Office Raided By IT

By FabNewz 2016
November 23, 2016
in :  Bollywood News
th (58)

One of the most speculated movies till date Baahubali has always been thetalk of the town along with buzz around the tinsel town for its production, direction, acting, in fact, everything. The magnum opus has always been a piece of curiosity, but this time the makers were in the news for entirely different reasons, and that is, Baahubali production unit’s …

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Cairn Energy seeks $5.6 billion compensation from India Following Tax Issuance

By FabNewz 2016
July 19, 2016
in :  Business News
Cairn Energy

Cairn Energy, one of Europe’s leading independent oil and gas exploration and development companies   has sought $5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore on 10-year old internal re-organisation of its India unit. The Edinburgh-based company demanded withdrawal of the tax demand, sighting the fact that India had failed to …

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Cairn Energy seeks $5.6 billion compensation from India Following Tax Issuance

By FabNewz 2016
July 15, 2016
in :  Business News
Tax Issuance

Cairn Energy, one of Europe’s leading independent oil and gas exploration and development companies   has sought $5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore on 10-year old internal re-organisation of its India unit. The Edinburgh-based company demanded withdrawal of the tax demand, sighting the fact that India had failed to …

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