Income tax

Taxpayers nudged to opt for “Vivaad Se Vishwas” scheme

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NEW DELHI: The income tax department is asking companies and individuals engaged in tax disputes to settle cases under the Vivaad Se Vishwas scheme even though the relevant law is yet to be passed by Parliament. Tax experts said that the department is pushing taxpayers, including those based overseas, to settle but the government maintains that it’s only […]

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Six income tax slabs in, 70 exemptions out: Impact on taxpayers

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The Budget 2020 has made the tax structure more complicated by adding three tax slabs. The removal of tax exemptions and deductions certainly makes compliance less tedious, but avid tax planners who maximised their tax deductions will probably pay more tax under the new tax regime. The budget has tried to put more money in

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