Tag: central board of direct taxes
Finance Ministry says UIDAI does not need to pay income tax
The finance ministry has exempted the income of Unique Identification Authority of India (UIDAI) from payment of income tax for five years till fiscal 2027-28….
Outward remittances exceeding ₹6 lakh come under I-T scanner
New Delhi: The Central Board of Direct Taxes (CBDT) has launched a comprehensive scrutiny and verification of high-value outward foreign remittances of above ₹6 lakh…
New Tax Regime: I-T issues rules for pros to switch between old, new tax regimes
New Delhi: Consultants, professionals and individuals with income from businesses will now be able to opt for the old tax regime in the current financial…
Final Cost Inflation Index for FY24 to be fixed at 348
Finance Ministry has notified the final Cost Inflation Index (CII) for FY24 (Assessment Year 2024-25) at 348, same as the provisional index notified in April….
‘Angel tax’ shield for buyers of PSU shares during selloff
India Thursday provided a carve out for buyers, including overseas buyers, of shares of a public sector enterprise or any government company under a strategic…
angel tax: Angel tax regime: Draft rules give investors more valuation flexibility
India on Friday announced draft valuation rules for overseas investments into startups under the ‘angel tax’ regime, providing foreign investors greater flexibility in determining the…
I-T department invites comments on draft rules for valuing startup investment by non-residents
The income tax department on Friday invited comments from stakeholders on rules for valuing non-resident investment in unlisted startups. The Central Board of Direct Taxes…
tds: Threshold for TDS levy on net winning from online gaming at Rs 100: CBDT
The Income Tax department on Monday said online game platforms will not be required to deduct tax at the source for a player if the…
Personal income tax to GDP ratio rises to 2.94 per cent in FY22
Personal income tax as a percentage of GDP has gone up from 2.11 per cent in 2014-15 to 2.94 per cent in 2021-22 fiscal, indicating…
I-T dept notifies Cost Inflation Index for current fiscal
The Income Tax Department has notified the Cost Inflation Index for the current fiscal beginning April 2023, for calculating long-term capital gains arising from sale…