income tax act

Banks Will Deduct Tax From Your Cash Withdrawal By Checking Income Tax Returns Sounds Scary! Isn't it? Now there is no running away for tax collectors anymore as they have imposed these rules. How Does It Work? So, consider the…

You will be charged higher income tax, as a penalty of either not adding unexplained cash/valuable(s) in your tax filings or if you are unable to explain the source and reason of such an entry to the IT officers. We have covered a…

SBI Reduces Interest On Saving Account, Rs 30 Lakh Crore Of Deposits Will Be Impacted: 5 Facts You Should Know As we had previously informed you that the country’s largest lender State Bank of India, SBI had up with reformed service…

In a terse, crude and direct notification for all salaried employees, Income Tax Dept. has threatened salaried employees of severe punishment, if they file incorrect tax returns. At the same time, as reported earlier, there are many tax…

The much-awaited revised discussion paper on the Direct Tax Code (DTC) is set in the public domain by the Manmohan Singh government. The earlier discussion paper on the Direct Tax Code Bill was released in August 2009 to receive public…

Congress Party seems to have played a masterstroke here. After not so impressive budget, they have announced something that will make the common man scream with Joy. In fact the Government has unveiled the draft of a brand new direct tax…