Let us assume an individual in India makes an income of ₹7,00,000. In this case, his earnings up to ₹2,50,000 are exempt from tax. However, he will have to pay 10% tax on any income between ...

The Vijay Kelkar Committee in 2002 was constituted with the objective of addressing the worsening fiscal situation of India ... income, providing a haven for tax evasion. The Committee provided ...

There has been a tremendous increase in the number of income tax notices issued to taxpayers in India in recent months. These ...

Data shared on the income tax portal indicates that the total number of e-verified returns stood at 8.64 crore during this time with Rs 4,35,008 crore issued in refunds. The Income Tax department ...