Clipped from: https://www.taxscan.in/once-an-assessment-order-is-rectified-under-tnvat-act-the-right-to-appeal-against-such-order-cant-be-denied-madras-hc/158086/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Right%20to%20Appeal Top Stories By Rasheela Basheer – On March 4, 2022 10:51 am The Madras High Court, while allowing a writ petition, held that once an assessment
Category: Income Tax
Delhi High Court directs CPC to process Income Tax Refund Claim–TAXSCAN
Clipped from: https://www.taxscan.in/relief-to-lg-delhi-high-court-directs-cpc-to-process-income-tax-refund-claim/158138/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=LG Top Stories By Taxscan Team – On March 4, 2022 1:05 pm The Delhi High Court, in a major relief to LG, has directed the Central
TDS rates on salary, interest and other incomes for FY 2021-22 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/tds-rate-on-salary-interest-dividend-and-other-incomes/articleshow/89960665.cms Synopsis Do keep in mind that TDS on specified transactions is deducted only when the value of payment is above a specified threshold
What should a nominee do after the death of an investor? How is investment money taxed? – The Financial Express
Clipped from: https://www.financialexpress.com/money/what-should-a-nominee-do-after-the-death-of-an-investor-how-is-investment-money-taxed/2445550/ After the demise of an investor, the family members can benefit from the investments, once the accumulated amount is transferred to the nominee(s)
What should a nominee do after the death of an investor? How is investment money taxed? – The Financial Express
Clipped from: https://www.financialexpress.com/money/what-should-a-nominee-do-after-the-death-of-an-investor-how-is-investment-money-taxed/2445550/ After the demise of an investor, the family members can benefit from the investments, once the accumulated amount is transferred to the nominee(s)
Each investment decision must be made with how capital gains tax will play out when you redeem – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/each-investment-decision-must-be-made-with-how-capital-gains-tax-will-play-out-when-you-redeem/articleshow/89680247.cms Synopsis Understanding of capital gains tax and incorporating it into investment planning is hindered because few investors even know that there is something
NRI Income Tax: If a resident turns NRI, what would be income tax implication on existing investments?
Clipped from: https://economictimes.indiatimes.com/wealth/tax/if-a-resident-turns-nri-what-would-be-income-tax-implication-on-existing-investments/articleshow/89717911.cms Synopsis On the sale of such shares or mutual funds, the NRI shall be liable to pay capital gains tax on the transfer
Explain stance on notices to companies over affiliates: Gujarat HC tells tax department – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/explain-stance-on-notices-to-companies-over-affiliates-gujarat-hc-tells-tax-department/articleshow/89828820.cms Synopsis The Gujarat High Court has asked the tax department to explain its stance on notices issued to Indian companies that were providing
The myth of Sisyphus | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/the-myth-of-sisyphus-122022400009_1.html The futile labour of Indian taxpayers The Greek mythological tale in which Sisyphus forever pushes a huge rock up a hill only to
Income Tax | Income earned from gift to wife is clubbed in husband’s income – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-income-earned-from-gift-to-wife-is-clubbed-in-husbands-income/2441865/ You may declare your income from pension and capital gains in ITR 2, disclosing sale consideration, cost of acquisition and resultant capital loss.
More clarity in tax assessment procedures to build confidence among taxpayers – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-more-clarity-in-tax-assessment-procedures-to-build-confidence-among-taxpayers/2440608/ The Budget has further corrected inadvertent drafting errors, brought clarity, and aligned the provision with the intent of the section. The government has
streedhan: Does streedhan include gifts, expensive appliances? What is husband’s right over streedhan? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/does-streedhan-include-gifts-expensive-appliances-what-is-husbands-right-over-streedhan/articleshow/89679611.cms Synopsis Streedhan includes all types of gifts, ornaments, cash, movable or immovable property that a woman receives from friends or family before and
capital gains tax: Each investment decision must be made with how capital gains tax will play out when you redeem – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/each-investment-decision-must-be-made-with-how-capital-gains-tax-will-play-out-when-you-redeem/articleshow/89680247.cms Synopsis Understanding of capital gains tax and incorporating it into investment planning is hindered because few investors even know that there is something
Prevent NRIs’ PAN from being declared inactive | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/prevent-nris-pan-from-being-declared-inactive-122022000907_1.html The I-T Department hasn’t made provision for allowing those ineligible for Aadhaar to mark their PANs, so the latter can be kept active
Tax travails: Reduce untenable tax litigation – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/tax-travails-reduce-untenable-tax-litigation/2436200/ The income tax department should target to complete all pending appeals within the next one year and release the inappropriately collected taxes to
New Income tax slabs: Deductions, exemptions not available in proposed new tax regime
Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-you-will-lose-if-you-opt-for-the-reduced-tax-rates-and-new-tax/articleshow/73839079.cms Individuals opting to pay tax under the new lower personal income tax regime will have to forgo almost all tax breaks that they were claiming in the
Reduce untenable tax litigation – income tax-The Financial Express
Clipped from: https://www.financialexpress.com/opinion/tax-travails-reduce-untenable-tax-litigation/2436200/ The income tax department should target to complete all pending appeals within the next one year and release the inappropriately collected taxes to
Income Tax Act: Got a junket as business reward? Get ready to pay tax on it – The Economic Times
lipped from: https://economictimes.indiatimes.com/industry/banking/finance/got-a-junket-as-business-reward-get-ready-to-pay-tax/articleshow/89628597.cms SynopsisThe government has added a new section to the Income Tax Act, namely Section 194R, which aims to bring such sops under the
Get crypto-clear, GST clarity can follow – The Economic Times
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
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
