« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Tax collection up in Bengal... Assocham for adoption of Singapore's low-tax scheme... » CPI opposes move to cut tax rate November, 09th 2006 The CPI today opposed any move by the UPA regime to lower income tax rate. CPI MP Gurudas Dasgupta said today that his party would oppose any move that would mean less revenue.   This came a day after Finance Minister P Chidambaram said that there was scope for further moderation (of income tax rate), indicating the government's willingness to lower it to encourage greater compliance.   The theory that lower tax means grater compliance is outdated. They (government) are doing it to woo foreign funds...We are opposed to it because we need additional one lakh crore for developmental schemes, Dasgupta told reporters.   Meanwhile, the Union Labour Ministry today decided to constitute a study team on violation of labour laws.   The team consisting of Members of Parliament, Labour Secretary and other officials will visit Himachal Pradesh, Haryana, Rajasthan and Tamil Nadu in this connection shortly.   Labour Minister Oscar Fernandes agreed to set up this team in response to a demand from AITUC leader Gurudas Dasgupta at the Consultative Committee meeting today.   CPI(M) MP Chittabrata Majumdar, who also attended the meeting, raised the issue of poor service conditions and labour law violations in the information technology sector.   The minister was said to have responded positively to senior CPI(M) leader's complaints but there was no concrete decision on this issue. The labour minister was also learnt to have agreed to invite the trade unions at the State Labour Ministers conference.