New Delhi, Feb 21 (IANS) When it comes to innovation in Pakistan, every new system, manual, or reform announcement struggles to escape the perception that it is designed as much to manage optics as to deliver results, according to a new report.Business Recorder writes that the Federal Board of Revenue’s (FBR’s) latest attempt to tighten tax collection through a withholding mechanism on digitally ordered goods appears “sensible on paper”.However, this initiative inevitably revives an olde…
Latest Taxpayers News & Updates
Mumbai, Feb 9 (IANS) The Income Tax Department’s draft Income‑tax Rules proposed a comprehensive renumbering of tax forms that would improve reporting ease and enhance compliance for taxpayers, professionals and institutions as the Income‑tax Act, 2025 is set to come into force on April 1.The draft rules, released with new form templates, replace legacy form numbers that evolved over decades and will reduce ambiguity and duplication in filings for taxpayers, experts said.It will better int…
New Delhi, Feb 2 (IANS) Finance Minister Nirmala Sitharaman said on Monday that the customs duty changes announced in the Budget for 2026-27 are part of the Indian government’s ongoing economic reforms to rationalise tariffs and are not linked in any way to the policy decisions of the US.”We have changed customs duties, and we have been making customs duty changes in every Budget for a while now, and we have continued the same in this Budget as well,” she pointed out.The Finance Minister maintai…
New Delhi, Jan 7 (IANS) India’s high-income salaried class is growing at a fast pace as the share of salaried taxpayers earning more than Rs 30 lakh a year increased from 18.49 per cent in 2024 to 23.34 per cent in 2025, a new report said on Wednesday.This reflects strong upward mobility within the middle and upper-middle class, data compiled by ClearTax showed.The findings are part of ClearTax’s annual report, ‘How India Filed in 2025’, which analysed millions of income tax returns to u…