Category: Income Tax

Clipped from: https://www.financialexpress.com/money/income-tax/itr-filing-due-date-for-ay-2021-22-extended-check-new-deadline-to-file-income-tax-return/2327436/ CBDT has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment

Clipped from: https://www.business-standard.com/article/companies/the-income-tax-portal-infosys-fiasco-whose-glitch-is-it-anyway-121090801400_1.html As former finance secretary Sumit Bose pointed out, govt often does not set clear milestones. The penalties, too, are often most difficult to

Clipped from: https://economictimes.indiatimes.com/news/india/income-tax-portals-tech-issues-being-progressively-addressed-1-19-crore-itrs-filed-cbdt/articleshow/86040786.cmsSynopsis Two facilities ( Aadhaar- PAN linking and e-PANs) are being availed of by over 0.50 lakh taxpayers on a daily basis in September

lipped from: https://economictimes.indiatimes.com/wealth/tax/penalty-for-missing-itr-filing-deadline-has-been-cut-to-half/articleshow/85973433.cms For the financial year 2020-21, the deadline to file income tax return (ITR) is September 30, 2021 (it was extended from the usual deadline of

Clipped from: https://www.business-standard.com/article/pf/senior-citizens-above-75-years-can-avoid-filing-itr-from-next-year-121090701400_1.html Instead, they will just have to make a declaration in Form 12BBA to their bank, which will deduct TDS Senior citizens must fulfil

Clipped from: https://www.financialexpress.com/money/have-made-donations-heres-how-to-avail-tax-benefits-under-section-80g/2325731/ Donations made to a foreign trust or any political party do not qualify for this deduction, however, contributions towards the PM CARES Fund

Clipped from: https://www.businesstoday.in/latest/top-story/story/cbdt-allows-taxpayers-to-file-settlement-application-till-sep-30-306142-2021-09-07 While no application for settlement can be filed on or after Feb 1, 2021 as per the amended Finance Act, the government had

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/yash-birla-wins-first-round-of-tax-battle/articleshow/85990914.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In one of the first high-profile cases under the new Black Money law, Yashovardhan Birla has won the first round in his tussle

Clipped from: https://www.financialexpress.com/money/income-tax/tax-on-provident-fund-know-how-pf-contributions-interest-will-be-taxed/2324747/ Rule 9D provides for separate accounts to be maintained within the provident fund account with respect to the taxable as well as non-taxable

Clipped from: https://taxguru.in/income-tax/increasing-threshold-limit-tax-audit-good-move.html Why increasing threshold limit Under Section 44AB of the Income Tax Act, 1961 is not a good move Introduction:- In the recent union

Clipped from: https://www.financialexpress.com/money/income-tax/forms-for-exemption-from-i-t-returns-for-senior-citizens-of-75-years-above-notified/2324350/ Such exemption from ITR filing would be available only in case where the interest income is earned in the same bank where pension

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/should-those-above-65-years-go-for-the-national-pension-system/article36291126.ece?homepage=true The logic for investing may be very different for those over 65 years of age The Pension Fund Regulatory and Development Authority (PFRDA)

Clipped from: https://www.thehindubusinessline.com/business-laws/why-tax-transparency-report-enhances-value/article36302051.ece?homepage=true Stakeholders’ growing demand for tax info from MNCs necessitate the maintenance of maximum standards of tax transparency Global tax environment has entered a

Clipped from: https://www.thehindubusinessline.com/economy/in-big-relief-75-plus-need-not-file-it-returns-from-ay22-23/article36292991.ece?homepage=true The bank will deduct TDS and issue Form 16 to the senior citizen   –  istock.com/lakshmiprasad S The bank will deduct TDS and issue

Clipped from: https://www.thehindubusinessline.com/opinion/editorial/it-portal-centre-infosys-it-infra-taxpayers-gst-portal-e-governance-govt-projects/article36141630.ece The tax portal glitches highlight deficiencies in the process of awarding e-governance contracts It is most unflattering to see a country that corners

Clipped from: https://www.financialexpress.com/money/income-tax/sold-unlisted-shares-know-the-tax-implications/2324027/ As equity shares of a company are considered as capital assets, selling such shares would either result in a capital gain or capital