Category: Income Tax

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/know-the-key-points-about-new-tax-regime/article36916514.ece From this year onwards there is an option to choose between the old tax regime and a newer one Getting ready to file

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/for-income-tax-filing-what-is-the-reference-document-for-forex-conversion-to-rupee/article36919280.ece On conversion from foreign currency to Indian rupee for income tax filing purposes, what is the reference document recognised by income tax rules?

Clipped from: https://economictimes.indiatimes.com/news/how-to/educational-services-tax-on-coaching-centres-in-india/articleshow/86886821.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis All cash received from the coaching profession has to be deposited into a separate bank account periodically and all expenses are to be

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-pre-validate-bank-account-to-receive-income-tax-refund/articleshow/86363308.cmsSynopsis The income tax department had previously announced that from March 1, 2019, it will issue only e-refunds. These tax refunds will be credited

Clipped from: https://economictimes.indiatimes.com/news/india/it-department-unearthed-huge-no-of-black-assets-overseas-accounts-after-recent-raids-cbdt/articleshow/86756306.cmsSynopsis Several incriminating documents, loose sheets, diaries, emails and other digital evidence have been unearthed which indicates ownership of a large number of foreign

lipped from: https://economictimes.indiatimes.com/news/india/it-department-detects-rs-500-crore-unaccounted-transactions-after-raids-on-gujarat-realty-group/articleshow/86701720.cmsSynopsis CBDT said about Rs 1 crore cash and jewellery worth Rs 98 lakh was seized during the operation. Twenty-four lockers have been put

Clipped from: https://economictimes.indiatimes.com/news/how-to/tax-on-freelancers-in-india-what-you-need-to-know/articleshow/86634929.cmsSynopsis As per the Income-tax Act, any earning earned through exhibiting your intellectual or manual capabilities is earnings from a profession. Freelancers are the

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/when-interest-us-234-a-b-c-can-be-levied-by-the-taxman/article36670797.ece?homepage=true Unpaid dues can hurt during ITR filing A coffee time conversation between two colleagues leads to an interesting explainer on tax jargons. Vina: Thank

Clipped from: https://taxguru.in/income-tax/presumptive-taxation-scheme-section-44ad-income-tax-act.html Special provision for computing profits and gains of business on presumptive basis. 44AD.(1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the

Clipped from: https://taxguru.in/income-tax/income-tax-return-itr-impact-delay-filing-itrs.html The Government of India has framed Income Tax laws governing the taxes to be levied on the taxable income of all persons who

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-how-to-report-excess-employer-contribution-to-epf-nps-retirement-funds/articleshow/86418378.cmsSynopsis With effect from the financial year 2020-21, the excess contributions made by the employer to EPF, NPS and retirement funds will be taxed

Clipped from: https://www.deccanherald.com/business/family-finance/know-your-tax-on-dividends-and-sale-of-shares-1032207.html It is important to note that the benefit of indexation is not available for LTCG on the sale of listed shares Representative image.

Clipped from: https://www.deccanherald.com/business/business-news/i-t-department-asks-taxmen-to-accept-applications-till-september-30-for-settlement-before-interim-board-1035467.html The 2021-22 Budget, through the Finance Act, amended the provisions of the Income-Tax Act, 1961 Representaive image. Credit: iStock Photo The Income Tax

Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/tax-evasion-money-laundering-via-shell-companies-set-to-get-tougher/articleshow/86572633.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Using ‘shell’ companies to launder money or dodge tax will become tougher with a tribunal ruling last week shifting the ‘burden of proof’

Clipped from: https://www.business-standard.com/podcast/pf/what-is-form-16-everything-about-form-16-decoded-121092700239_1.html Here’s all that you know, and you don’t know, about Form 16, TDS certificate, Form 16 part A, Form 16 part B, Form

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-why-you-shouldnt-wait-for-the-extended-due-date-to-file-itr/2338971/ The due date of filing ITR has been extended to provide relief to taxpayers, amid the Covid-19 pandemic, and due to concerns and