Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/get-crypto-clear-gst-clarity-can-follow/articleshow/89512173.cms Synopsis GoI, keen to encourage fintech innovation, must give proper legal backing to cryptos and let RBI regulate them. A clear GST framework
Category: Income Tax
Rationalise capital gains tax regime – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/rationalise-capital-gains-tax-regime/articleshow/89550871.cms Synopsis Extending the roll-over facility to all assets will encourage churning across assets and make the tax treatment more efficient. It would incentivise
Updated ITR will reduce litigation for taxpayers – BusinessToday
Clipped from: https://www.businesstoday.in/opinion/columns/story/budget-2022-updated-itr-will-reduce-litigation-for-taxpayers-322304-2022-02-11 A major dampener for the taxpayers is the requirement for the additional tax liability of filing the ‘updated return’. In the Budget speech,
Expanding the tax base, key to IT rationalisation: Revenue Secretary – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/rationalisation-not-reduction-of-tax-levels-needed-revenue-secretary/article65001942.ece Tarun Bajaj , Revenue Secretary | Photo Credit: KAMAL NARANG 11 crore file taxes via TDS but only 7 crore file returns; this
Tax when you want to spend | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/tax-when-you-want-to-spend-122013001016_1.html Raise the tax-GDP ratio to finance rising revenue expenditure The principal fiscal challenge that India faces is the stagnation in the tax-GDP ratio for
Is there another tax amnesty scheme? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/budget-2022-is-there-another-tax-amnesty-scheme/articleshow/89358090.cms Synopsis To find a way around, governments usually announce an “income-tax amnesty scheme” whereby tax defaulters are given the opportunity to declare their
Around 6.17 crore ITRs, 19 lakh audit reports filed on new I-T portal, says CBDT – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/around-6-17-crore-itrs-19-lakh-audit-reports-filed-on-new-i-t-portal-says-cbdt/2427820/ The government had in January extended till March 15 the deadline for corporates to file income tax returns for the fiscal ended March
Income Tax Return: Happy belated returns from I-T dept, but only if you pay up the extra tax | India Business News – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/india-business/happy-belated-returns-from-i-t-dept-but-only-if-you-pay-up-the-extra-tax/articleshow/89284549.cms?utm_medium=referral&utm_campaign=iOSapp&utm_source=email Representative photo: PTI Worried that the taxman will come after you for not reporting your rent income or not including interest from your
Union Budget 2022: Make life less taxing with these tips – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/india-business/union-budget-2022-make-life-less-taxing-with-these-tips/articleshow/89292991.cms?utm_medium=referral&utm_campaign=iOSapp&utm_source=email NEW DELHI: Union Budget 2022-23 eased certain compliances for taxpayers. Even though there was no change in income tax slabs or standard deduction limit, the
File a rectification request in case you have received a low refund | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/file-a-rectification-request-in-case-you-have-received-a-low-refund-122020700967_1.html While recalculating your tax liability, ensure you include income from all sources If you had met the extended deadline of December 31, 2021,
File a rectification request in case you have received a low refund | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/file-a-rectification-request-in-case-you-have-received-a-low-refund-122020700967_1.html While recalculating your tax liability, ensure you include income from all sources If you had met the extended deadline of December 31, 2021,
Around 6.17 crore ITRs, 19 lakh audit reports filed on new I-T portal, says CBDT – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/around-6-17-crore-itrs-19-lakh-audit-reports-filed-on-new-i-t-portal-says-cbdt/2427820/ The government had in January extended till March 15 the deadline for corporates to file income tax returns for the fiscal ended March
budget 2022 for taxpayers: These tax payers can’t use new rule to update income tax returns, says Budget 2022 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/these-tax-payers-cant-use-new-rule-to-update-income-tax-returns-says-budget-2022/articleshow/89271063.cmsSynopsis As per the budget memorandum, individual taxpayers will not be able to use this facility if the updated return leads to lesser total
Section 80dd Tax Relief: Budget 2022 introduces new tax relief for parents of disabled under Sec 80DD – The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/tax/budget-2022-introduces-new-tax-relief-for-parents-of-disabled-under-sec-80dd/articleshow/89272780.cmsSynopsis Earlier the Section 80DD allowed deduction on the premium amount to the proposer of the policy if it was a term plan where
Long term capital gain surcharge capped at 15% for all assets, how will it impact you – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/long-term-capital-gain-surcharge-capped-at-15-for-all-assets-how-will-it-impact-you/articleshow/89273498.cmsSynopsis “The long-term capital gains on listed equity shares, units etc. are liable to maximum surcharge of 15 per cent, while the other long
Budget 2022 proposes to notify income tax reliefs for Covid – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/budget-2022-proposes-to-notify-income-tax-reliefs-for-covid/articleshow/89273254.cmsSynopsis Budget 2022 has clarified that money received by individuals either as one-time ex-gratia from an employer or for treatment of covid-19 will not
TDS on property sale to be levied on higher of stamp duty value or sale amount: Budget 2022 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/tds-on-property-sale-to-be-levied-on-higher-of-stamp-duty-value-or-sale-amount-budget-2022/articleshow/89271898.cmsSynopsis As per income tax laws, an individual is required to deduct tax if the sale value of an immovable property exceeds Rs 50
Budget 2022 Income Tax Highlights | Key income tax, personal finance highlights from Budget 2022
Clipped from: https://economictimes.indiatimes.com/wealth/personal-finance-news/key-income-tax-personal-finance-highlights-from-budget-2022/articleshow/89272198.cmsSynopsis Here is a look at key tax related and personal finance highlights from Budget 2022, according to a PIB press release. Even though
standard deduction budget 2022: Budget 2022: Any change in standard deduction for salaried, pensioners in FY2022-23? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/budget-2022-any-change-in-standard-deduction-for-salaried-pensioners-in-fy2022-23/articleshow/89269237.cmsSynopsis There was an expectation of hike in the amount available to claim as standard deduction due to the higher cost borne by employees
budget 2022 section 80c changes: Was section 80C limit increased in Union Budget 2022? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/was-section-80c-limit-increased-in-union-budget-2022/articleshow/89268899.cmsSynopsis There has been long-standing demand to hike the deduction limit under section 80C as the limit was last hiked in financial year 2014-15,
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