Income tax

09 Jun

Recent data leak shows how little Income tax billionaires pay

editor0 CommentsBusinessbillionaires, Income tax, international, leaked data, USA

Data revealing income tax paid by US billionaires has been leaked to a news website. The website says it has seen the tax returns of some of the world's richest people, including Jeff Bezos, Elon Musk and Warren Buffett. It alleges Amazon's Mr Bezos paid no tax in 2007 and 2011, while Tesla's Mr Musk paid nothing in 2018. They claimed the richest 25 Americans pay less in tax, an average of 15.8% of adjusted gross income, than most mainstream US workers. They also said said they were analysing what it called a "vast trove of Internal Revenue Service data"…

09 Jun

Income Tax department launched its new portal on 7th June 2021

editor0 CommentsNorth EastIncome on tax, Income tax, income tax new portal, tax department

The tax department has launched the much-awaited new portal of filing income tax return (ITR) — www.incometax.gov.in — on Monday night. After this the Income Tax department has informed tax payers via an e-mail communication, asking them to re-register their digital signature certificate (DSC) once again on the newly launched IT website. This new portal comes with a lot of new features and is expected to give a smarter and smoother Income Tax Return (ITR) filing experience to the users. Announcing the launch of its new portal, the income tax department tweeted, “We proudly present to our valued taxpayers, the…