The salaried will not face regular income tax scrutiny this year.
According to Exam Controller Sanyam Bhardwaj, the exams which were pending due to the COVID-19 situation have been cancelled.
The economic growth slowed to 6.9 per cent in the second quarter against 8.4 per cent in the same period last year.
The top court observed that even in reserve forests, there are no concrete roads and the safari vehicles ply on forest roads.
TDS has been successfully used for direct taxes like the income tax.
Taxpayers may get relief in terms of tax rates in the proposed Direct Taxes Code (DTC), which is likely to replace the 50-year-old Income Tax Act from the next fiscal, a key official indicated on Friday.
The Central Board of Secondary Education (CBSE) and Council for the Indian School Certificate Examinations (CISCE) boards have told the Supreme Court that class XII board examination results would be declared by July 31 and the students, desirous of taking up the board examination physically of CBSE can do so between August 15 to September 15, subject to conducive pandemic situation.
Analysts warn that complying with the new standards will be a cumbersome process for companies, particularly smaller ones.
The CBDT has revised the target upward by 10 per cent (Rs 53,000 crore or Rs 530 billion) for the current fiscal to keep the fiscal deficit at the budgeted level of 4.6 per cent of the gross domestic product.
Justice Jasmeet Singh, who was hearing a plea by the Delhi Waqf Board seeking a direction to open the mosque for the holy month, clarified that no "Tablighi activities" and lectures can take place on the premises and only prayers can be offered.
The Yamuna surged to a record 208.48 metres at 8 am, the Central Water Commission said on Thursday, adding that it is likely to rise to 208.75 metres by 4 pm.
The Union finance ministry has asked field officers of the income tax department to not be adversarial to assessees, and to not send high-pitched demands without a proper basis.
The federal agency wants to question and record Parab's statement under the Prevention of Money Laundering Act, they said.
The vacancies are learnt to be impacting the I-T department's day-to-day functioning.
This is the eighth time that the CBDT has extended the deadline for individuals to link their PAN with Aadhaar.
CBDT was considering discontinuing these bonds in the coming Union Budget.
All categories of taxpayers can now file their income returns on October 29 and 30.
The income tax department is asked to keep names of blackmoney holders under wraps.
Pratinav Anil is able to foresee some agency and assertion on the part of India's Muslims. His hope emanates from the citizenship rights movement of Muslims in 2019-2020, notes Mohammad Sajjad.
Rajshekhar detailed his complaints in a report to the lieutenant governor's office, joint secretary in the Ministry of Home Affairs and the additional commissioner of police of Delhi's anti-corruption branch.
The government on Friday informed the Supreme Court that it will set aside its order directing scam-hit information technology firm Satyam Computer to pay Rs 617 crore (Rs 6.17 billion) as income tax and will give a fresh hearing to the firm's plea challenging the tax demand.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
This facility, initially, will be available at select ATMs in the major centres.
The plea, filed by advocates Shishir Chaturvedi and Karunesh Kumar Shukla, said that apart from private individuals and members of state Sunni Board, the presence of central and state government representatives was essential to ensure proper management of the funds.
Some companies are charged with undervaluing their assets.
Finance Ministry issues strict instructions on foreign bank accounts.
Officials in the know indicate the Central Board of Direct Taxes might come out with a notification in due course, saying that cases that have reached finality would not be touched.
Assessees whose tax is deducted at source now can file their returns in the current assessment year without quoting a proposed tax number, UTN, as the government deferred its introduction."Taxpayers filing their income tax returns for assessment year 2009-10 or any other earlier AY, may continue to file their returns without mentioning the Unique Transaction Number (UTN)," the Central Board of Direct Taxes said in a statement issued on Tuesday.
This amount will include Rs 13,100 crore that Economic Affairs Secretary Subhash Garg has been publicly seeking from the central bank's contingency reserve fund since 2017-18 (FY18).
The panel, headed by former Central Board of Direct Taxes chairman N Rangachary, will be in addition to the one set up to review the General Anti-Avoidance Rules provisions to address the concerns of foreign investors.
The Delhi high court was informed on Tuesday that a petition challenging the appointment of Gujarat-cadre Indian Police Service officer Rakesh Asthana as Delhi Police Commissioner has also been filed before the Supreme Court.
Redrafting the Direct Taxes Code is proving to be an uphill task for the finance ministry, bombarded with comments from various stakeholders. The Central Board of Direct Taxes has received about 10,000 suggestions on the code, which seeks to replace the Income Tax Act of 1961.
The Board of Control for Cricket in India may now have to shell out more than Rs 100 crore, as the income tax department is set to penalise it for concealing details of its commercial activities.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
The court set aside the direction issued to the CBI director to make a written apology to Patel for the agency's action against him.
'Trust your new governor,' Omkar Goswami advises RBI Deputy Governor Viral Acharya. 'Just because he is from the IAS and doesn't carry a PhD from a US university does not make him unsuitable for the task.' 'If anything, Das will pour oil on troubled waters, and save the RBI's reputation.'
Riding on Baba Aparajith's splendid century, South Zone crushed a hapless Central Zone by 116 runs with 13.3 overs to storm into the Deodhar Trophy semi-finals at the Wankhede Stadium, in Mumbai, on Saturday.
The CBSE issued a circular to its affiliated schools asking them to restrict use of mobile phones by students as well as teachers as these phones can be serious cause of distraction and anxiety.
In the over 20-page report, the central probe agency has also stated that the seven persons whose charred bodies were recovered from inside one of the burnt houses in Bogtui village, were "assaulted before being burnt alive".
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