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What is Income tax

Income tax

What is Income tax
What is Income tax
Income tax is a direct tax that a government levies on the income of its citizens. The Income Tax Act, 1961, mandates that the central government collect this tax. The government can change the income slabs and tax rates every year in its Union Budget. 
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Latest Updates on Income tax

I-T dept extends ITR filing deadline for charitable trusts till Nov 30

1 min read Last Updated : Sep 19 2023 | 1:59 PM IST
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Govt extends deadline for filing tax returns by companies, audit reports

1 min read Last Updated : Sep 18 2023 | 11:54 PM IST
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IDFC First Bank's MD and CEO V Vaidyanathan to raise stake in bank

2 min read Last Updated : Sep 12 2023 | 9:29 AM IST
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Tata Comm moves ITAT against Rs 228.49 cr TDS order by Income Tax Dept

1 min read Last Updated : Sep 9 2023 | 5:26 PM IST
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Ashneer Grover calls out officials for asking for ITR of shareholders

2 min read Last Updated : Sep 8 2023 | 6:59 PM IST
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Average time taken for issuing I-T refunds reduced to 10 days in FY24: CBDT

3 min read Last Updated : Sep 6 2023 | 1:01 PM IST
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Over 60 mn ITR filings processed for assessment year 2023-24: CBDT

2 min read Last Updated : Sep 5 2023 | 7:03 PM IST
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Around 500,000 taxpayers get I-T department alert for low advance tax

3 min read Last Updated : Sep 4 2023 | 11:46 PM IST
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CBDT signs 95 APAs in 2022-23, highest ever since launch in 2012

2 min read Last Updated : Sep 1 2023 | 10:36 PM IST
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Sec 54 benefit gets forfeited unless taxpayer meets multiple criteria

5 min read Last Updated : Aug 28 2023 | 10:56 PM IST
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Explained: How to structure your salary to reduce your tax burden

7 min read Last Updated : Aug 14 2023 | 12:18 PM IST
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Missed July 31 deadline for filing ITR? File belated return by December 31

5 min read Last Updated : Aug 9 2023 | 11:46 PM IST
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Doing a second job? You may be under I-T department's lens for moonlighting

2 min read Last Updated : Aug 9 2023 | 5:31 PM IST
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Individuals reporting annual income of above Rs 1 cr doubles in 2 yrs

2 min read Last Updated : Aug 7 2023 | 6:46 PM IST
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I-T dept to hire 50 young law, accountancy graduates for better litigation

3 min read Last Updated : Aug 7 2023 | 4:44 PM IST
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We changed perception tax paid by citizens is squandered in corruption: PM

3 min read Last Updated : Aug 6 2023 | 7:07 PM IST
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Top headlines: Fitch cuts US credit rating, corporation tax mop-up slips

3 min read Last Updated : Aug 2 2023 | 8:37 AM IST
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Record 67.7 million ITRs for AY 2023-24 filed till July 31: I-T department

1 min read Last Updated : Aug 1 2023 | 8:40 PM IST
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Last day to file returns: What happens if you miss your ITR deadline today

6 min read Last Updated : Jul 31 2023 | 11:16 AM IST
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ITR filing last date today: Step-by-step guide to filing your returns here

3 min read Last Updated : Jul 31 2023 | 11:19 AM IST
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