https://www.business-standard.com/opinion/columns/does-brics-exist-only-because-a-good-acronym-cannot-be-allowed-to-die-123081800644_1.html There is nothing like a good acronym to give currency to a dodgy idea, and so it has been with Brics. Coined by economists
Day: August 19, 2023
👍Received Income Tax Refund or intimation? You can still file revised ITR to rectify mistakes – Know how
https://www.financialexpress.com/money/received-income-tax-refund-or-intimation-you-can-still-file-revised-itr-to-rectify-mistakes-know-how/3215505/ The deadline to fill out original income tax returns (ITR) concluded on July 31. While it is crucial to submit your ITR on time,
👍Income Tax; Income from gift by relative taxable in hands of receiver
https://www.financialexpress.com/money/your-queries-income-tax-income-from-gift-by-relative-taxable-in-hands-of-receiver/3215271/ By Chirag Nangia —Mangalaprasad Patnaik There are no provisions for deductions / exemptions for the person giving a gift to mother and sister as
👍👍👍👍👍👍👍Safeguard yourself against massive vet bills with pet insurance policy
https://www.business-standard.com/finance/personal-finance/safeguard-yourself-against-hefty-vet-bills-with-pet-insurance-policy-123081800672_1.html f you’ve added a dog or a cat to your family, the thought of buying pet insurance must have surely crossed your mind, especially
Fair lending practice. Penal charges should not be used as revenue enhancement tool: RBI to banks, NBFCs
https://www.thehindubusinessline.com/money-and-banking/rbi-issues-fresh-instructions-on-penal-charges-in-loan-accounts/article67208546.ece The Reserve Bank of India has issued fresh guidelines for lenders on penal charges in loan accounts to ensure that penal interest/ charges is not used
👍China is slowing. What does it mean for India?
https://www.thehindubusinessline.com/blexplainer/china-is-slowing-what-does-it-mean-for-india/article67209252.ece Chinese investors and households are cutting back on spending, leading to a deflationary situation | Photo Credit: THOMAS PETER What are the latest numbers
Tax benefit–Income Tax Dept revises rent-free accommodation valuation, boosting take-home salaries for employees
https://www.thehindubusinessline.com/economy/policy/income-tax-department-revises-rent-free-accommodation-valuation-boosting-take-home-salaries-for-employees/article67211121.ece Income Tax Department’s revised rules on rent-free accommodation valuation will increase take-home salaries, benefiting employees. Employees enjoying rent-free accommodation will now have higher takeaway
👍Income shall be determined on Net Profit even though Society is not Registered u/s 12A of Income Tax Act: ITAT allows Deduction of Expenditure
Read More: https://www.taxscan.in/income-shall-be-determined-on-net-profit-even-though-society-is-not-registered-u-s-12a-of-income-tax-act-itat-allows-deduction-of-expenditure/311220/ The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) allowed deduction of expenditure and held that the income shall be determined on net profit even though
E-commerce policy almost final, with clarity now on data localisation rules
https://www.thehindubusinessline.com/economy/e-commerce-policy-almost-final-with-clarity-now-on-data-localisation-rules/article67210475.ece Both the Department for Promotion of Industry and Internal Trade (DPIIT) and the Department of Consumer Affairs will have their own roles in the
👍Govt notifies GST laws for uniform tax on online gaming, casinos, and horse racing
https://www.thehindubusinessline.com/economy/policy/govt-notifies-gst-laws-for-uniform-tax-on-online-gaming-casinos-and-rorse-racing/article67211136.ece Government amends GST laws to implement 28% tax rate on real money online gaming, casinos, and horse racing. The Government has notified GST laws
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