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August 21, 2025, 06:00 PM - 3 min read
Income tax data for 2024-25 has revealed unexpected disparities in India’s middle class, with Jharkhand outperforming Gujarat in the proportion of higher-earning taxpayers.
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April 5, 2025, 04:22 PM - 3 min read
As the financial year 2024-25 drew to a close, over 3.24 lakh individuals in India filed their income tax returns (ITR) for incomes exceeding ₹1 crore.
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March 30, 2025, 05:11 PM - 2 min read
InterGlobe Aviation Ltd, the parent company of budget airline IndiGo, has received a tax penalty of ₹944.20 crore from the Income Tax Department for the assessment year 2021-22.
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March 18, 2025, 04:07 PM - 4 min read
India’s direct tax collections have continued to show strong growth, with net receipts reaching ₹21.26 trillion so far this fiscal year. This represents 95 pc of the government’s revised full-year target, the Income Tax Department announced on Monday, following the final advance tax instalment deadline.
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March 10, 2025, 04:12 PM - 2 min read
The Central Goods and Services Tax (CGST) officers have uncovered tax evasion amounting to ₹1.95 lakh crore during the April to January period of the current financial year.
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February 2, 2025, 06:36 PM - 4 min read
In a post-Budget interview, the Chairman of the Central Board of Direct Taxes (CBDT), Ravi Agrawal, stated that more than 90% of individual taxpayers in India may opt for the newly introduced tax regime following the significant tax reforms announced in the Union Budget.
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February 1, 2025, 08:22 PM - 3 min read
The recent income tax relief announced in the Union Budget 2025 has provided a major financial boost to the middle class. With Finance Minister Nirmala Sitharaman revising tax slabs and making income up to ₹12 lakh tax-free, many taxpayers are set to benefit from increased disposable income.
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February 1, 2025, 09:10 AM - 5 min read
Finance Minister Nirmala Sitharaman will present her record eighth budget today, with expectations for relief in income tax rates to ease inflation. Hopes are high after PM Modi invoked Goddess Lakshmi for blessings on the middle and poorer classes.
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December 31, 2024, 03:31 PM - 3 min read
The deadline for filing belated or revised Income Tax Returns (ITR) for the Assessment Year (AY) 2024-25 has been extended by the Central Board of Direct Taxes (CBDT). Initially set for December 31, 2024, the new deadline is now January 15, 2025.
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August 2, 2024, 06:38 PM - 2 min read
“Citizens pay taxes like England to get services like Somalia.” A statement that opened floodgates of the good, the bad and the ugly in India’s taxation system versus the rest of the world.
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August 2, 2024, 02:59 PM - 2 min read
Over 7.28 crore income tax returns were filed by the July 31 deadline, marking a new record for the assessment year.
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May 28, 2024, 02:50 PM - 2 min read
The income tax department has urged taxpayers to link their PAN with Aadhaar by May 31 to avoid higher tax deduction rates, while reporting entities are reminded to file SFT by the same deadline to avoid penalties.
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