IT dept notifies current fiscal’s cost inflation index

The Income Tax Department has notified the cost inflation index for the current fiscal to calculate long-term capital gains arising from the sale of immovable property, securities, and jewelery. The cost inflation index (CII) is used by a taxpayer to compute gains arising out of the sale of capital assets after adjusting for inflation. The … Read more

The tax deadline is 10 days away. Here’s the average refund so far

bymuratdeniz | iStock | Getty Images There are 10 days until April 18, the tax deadline for most Americans, and the IRS has already sent more than 63 million refunds worth over $ 204 billion in total, as of April 1, the agency reported Friday. Almost one-third of Americans do not file until the last … Read more

Modi government sees high tax collection as an achievement, does not see people’s pain: Rahul Gandhi

It also noted that during April-November 2021, gross tax revenue has grown by 50 percent year-on-year, while the GST mop has remained above Rs 1 lakh crore mark since July 2021. Congressman Rahul Gandhi claimed on Monday that the Narendra Modi government sees high tax collection as its great achievement but does not see the … Read more