Tag Archives: Tax Benefits

All Income Tax refunds to be put directly in bank accounts: CBDT

Tax

Revenue secretary Shaktikanta Das emphasises that in the past one year the government has taken several steps to make taxpayers’ life simpler. In a step that would bring delight to taxpayers, the Income Tax department has put in motion a new plan which will ensure that any refund on tax paid is safely deposited in

Govt proposes tax benefits for credit and debit card payment to encourage cashless transactions

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The Indian government on Monday proposed income tax benefits for people who making payments through credit or debit cards and doing away with transaction charges on purchase of petrol, gas and rail tickets with plastic money.

In a draft paper for moving towards cashless economy and reduce tax avoidance, the government also proposed to make it mandatory to settle high-value transactions of more than Rs 1 lakh through electronic mode.