Middle, lower income class too needs tax breaks; Corp tax cut to cost ₹1 lakh cr in FY22: Cong
Congress urged the Centre to announce tax breaks for the middle and lower income classes.
income tax
August 2022
February 2022
January 2022
December 2021
Relook at capital gains tax needed: Revenue Secretary Tarun Bajaj
In a post-budget interaction with CII, Bajaj also listed GST and personal income tax as areas on which work is in progress.
A Quick Guide to Tax Saving
Tax planning should be a year-round activity, but if you haven’t started yet, here’s the low-down on options for maximising tax savings at the last minute.
Budget 2022: Income tax collections up, despite Covid
According to the Income Tax Department, nearly 5.89 crore income tax returns for FY21 (assessment year 2021-22) were filed till the December 31, 2021 deadline.
Budget 2022: Good news on corporate tax
Expected growth in corporate tax collections during FY22 indicates a strong economic revival in spite of Covid-19.
Budget 2022: Four key income tax expectations for senior citizens
A significant class of senior citizens are taxpayers and have many expectations from Budget 2022 particularly as Covid-19 has impacted this segment the most.
Budget 2022: Govt reviews new personal tax slabs, incentives likely
The new slabs – with lower taxes – were offered to those taxpayers willing to forego certain deductions and exemptions. But response has been tepid.
Insurance sector seeks higher tax deduction u/s 80C, 80D
Currently, all financial purchases are clubbed under the same section 80C for deduction under the income tax, capped at ₹1,50,000.
Ensure tax parity among corporates, SMEs & LLPs: Assocham
Assocham's pre-budget memorandum to the finance ministry pointed out that the Finance Act of 2019 increased the surcharge on individual taxpayers.
Why high GST collection is bad taxation and bad economics
The hype over high GST collection hides the falling corporate tax and rising oil tax, both of which put higher burden on the poor, keep consumption demand low and drag growth down
