The Latest Breaking News from Income Tax

The prime minister who originally introduced the stage three tax cuts to the parliament says you would probably not legislate them today, given their growing cost and the deteriorating budget position.

She promised a “bold plan” to cut taxes and grow the economy and “deliver on the energy crisis”

The Delhi High Court has sought a response on a petition filed by Newslaundry against the reassessment notices issued to it under the Income Tax Act for 2017-2018 and 2019-2020. The reassessment notice was issued on grounds that the assessment of income for these years was not done.

Here's a breakdown of income and rates for next year.