Government of India working on New Income Tax Act
The Finance Ministry’s Revenue Department is expediting a comprehensive review of the Income Tax Act of 1961 to simplify and condense it by removing up...
Tag : income tax department
Gross Direct Tax Collections Surged by 21% to Rs 12.01 Lakh Crores, April-Mid Sept Data
India’s gross direct tax collections for 2024 showed significant growth, with a 21.48% increase as of September 17, 2024. The surge in Securities Transaction Tax...
Finance Ministry: Not All Residents Leaving India Require Tax Clearing Certificate
The Finance Ministry clarified that not all residents leaving India need tax clearance certificates. This requirement applies only to specific cases under the Income Tax...
LIC Shares Climbed Over 5% After Receiving Rs 21,740-crore Refund
Life Insurance Corporation of India’s (LIC India) shares climbed over 5% on Monday as it received a refund of Rs 21,740.77 crore from the Income...
LIC Shares Slip 1% Lower on Receiving Rs 3,528.75 Crore Income Tax Demand Notice
Shares of Life Insurance Corporation of India (LIC) slipped 1% on 12 January after the company announced receiving two demand orders from the Mumbai income...
RR Kabel Shares Plunge After Income Tax Search At Factories and Offices
Shares of R R Kabel witnessed a decline, falling over 5% after reports surfaced about Income Tax searches at its offices and factories. RR Kabel...
Vodafone Idea Shares Jumped as Bombay High Court Orders Rs 1,128 Crore Tax Refund
Shares of Vodafone Idea Ltd surged up to 2.5% on November 9 after the Bombay High Court directed the Income Tax department to refund Rs...
Shares of Som Distilleries Plunge Over Reports of IT Raids on Company Premises
Shares of Som Distilleries & Breweries Ltd tumbled on Tuesday following reports of raids being conducted by the Income Tax (IT) department on the company’s...
Vedanta to Get Refund of Rs 190 Crore with Interest from the Income Tax Department
The Income Tax department will refund Rs 190 crore with interest to Vedanta for the assessment year 2021-22. The decision was made after a hearing...
Maruti Suzuki Shares Dip Over Rs 2,160 Crore Income Tax Draft Assessment Order
Shares of Maruti Suzuki plunged on Wednesday after the company received a Rs 2160 crore notice for unpaid dues from the Income Tax (IT) department...