Clipped from: https://www.thehindubusinessline.com/news/govt-buries-retro-taxes-brings-bill-in-ls-to-withdraw-tax-demand-on-cairn-vodafone/article35748351.ece?homepage=true – The Government will refund the money collected earlier without any interest In a bid to bury the ghost of retrospective taxation, the
Category: Income Tax
Experts welcome govt’s move to bury retro tax, but with riders | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/experts-welcome-govt-s-move-to-scrap-retrospective-tax-121080501275_1.html They, however, say are not sure if the lack of interest and costs payable by govt will satisfy all litigants Photo: PIB India
Tax Query: Treatment of ‘bullock rent’ income – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-treatment-of-bullock-rent-income/article35514560.ece I got retired from a PSU in May 2020. My earnings for FY2020-21 comprise regular salary for April 2020 and May 2020, retirement
New vs old tax regime: Compute liability before making the switch | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/new-vs-old-tax-regime-compute-liability-before-making-the-switch-121080301966_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 Non-investors in tax-saving instruments may opt for the new regime Taxpayers having income from business or profession also have to opt-in for the
विमा प्राप्तिकर कायदा | Loksatta
Clipped from: https://www.loksatta.com/arthvrutant-news/insurance-income-tax-act-business-ssh-93-2548633/ जीवन विम्याव्यतिरिक्त आरोग्य विमा (मेडिक्लेम) हादेखील लोकप्रिय आहे. करावे कर-समाधान प्रवीण देशपांडे गुंतवणुकीच्या पर्यायांमध्ये ‘जीवन विमा’ हा लोकप्रिय पर्याय आहे. हे क्षेत्र खासगी कंपन्यांना
Demand notice must be served properly to buyer | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/demand-notice-must-be-served-properly-to-buyer-121080100730_1.html The purchaser couldn’t be termed a defaulter since the demand letter had not been served properly, and especially when he paid the amount
Don’t forget mandatory disclosures while filing your income-tax returns | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/don-t-forget-mandatory-disclosures-while-filing-your-income-tax-returns-121073000951_1.html Failure to do so might render the ITR (Income-Tax Returns) defective and invite an income tax notice and penalties Albert Einstein once said,
Tax reassessment past deadline is a symptom | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/tax-reassessment-past-deadline-is-a-symptom-121080100886_1.html ‘Over the years this government, obsessed with alliterative dazzle, has talked about transparent taxation and honouring the honest’, says the author Every few
The Reform NPS Withdrawals Need – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/the-reform-nps-withdrawals-need/articleshow/84954633.cmsSynopsis Exiting subscribers should be free to invest in any capital asset of their choice that offers a steady stream of income. Today, when
All you need to know about transfer of property to NRI children – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/all-you-need-to-know-about-transfer-of-property-to-nri-children/articleshow/84232351.cmsSynopsis For starters, any transfer of property to non-resident Indians (NRIs) and persons of Indian origin (PIOs) must comply with the Foreign Exchange Management
Businesses can now self-certify GST returns, instead of mandatory CA audit | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/businesses-can-now-self-certify-gst-returns-instead-of-mandatory-ca-audit-121080100227_1.html GST taxpayers with a turnover of over Rs 5 crore can now self-certify their annual return, instead of a mandatory audit certification by
Simply Put: New tax regime – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-new-tax-regime/article35656575.ece If offers lower tax rates but without the benefit of most deductions and exemptions A phone call between two friends leads to a
Tax Query: Setting off capital losses in delisted shares – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-setting-off-capital-losses-in-delisted-shares/article35657286.ece Kindly guide whether there is any method by which capital loss under Income Tax provisions can be set off against the shares which
Foreign card payment companies may have to shell out more taxes once data servers are set up – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/foreign-card-payment-companies-may-have-to-shell-out-more-taxes-once-data-servers-set-up/articleshow/84911998.cmsSynopsis A large part of the income generated by these companies in India is outside the domestic tax net as they did not have
Delhi HC set aside order passed by AO as no personal hearing was granted to assessee–taxguru.in
Clipped from: https://taxguru.in/income-tax/delhi-hc-set-order-passed-assessing-officer-personal-hearing-granted-assessee.html Naresh Kumar Goyal Vs National Faceless Assessment Center & Ors. (Delhi High Court) Naresh Kumar Goyal (Petitioner) challenged the show cause notice and the draft
I-T Dept detects unaccounted transactions of ₹400 cr after raids on ‘pan masala’ group – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/i-t-dept-detects-unaccounted-transactions-of-400-cr-after-raids-on-pan-masala-group/article35629506.ece Searches were carried out on 31 premises of the group which is also involved in the real estate business The Income Tax Department
Income tax benefits, rebates that senior citizens enjoy – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-benefits-rebates-that-senior-citizens-enjoy/2301294/ Under the Old Income Tax Regime, senior citizens, having income from salary, rent and interest income, enjoy additional tax benefits and rebates compared
New I-T portal receives over 25.82 lakh ITRs, distributes 7.90 lakh e-PANs – BusinessToday
Clipped from: https://www.businesstoday.in/latest/economy/story/new-i-t-portal-receives-over-2582-lakh-itrs-distributes-790-lakh-e-pans-302817-2021-07-30 A total of 80,23,266 ITRs have been drafted, over 6.07 lakh forms have been drafted out of which 5,51,150 were filed at the
Include cryptocurrency gains in income-tax returns, say analysts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/include-cryptocurrency-gains-in-income-tax-returns-say-analysts-121072901736_1.html Treat it as capital gain if you buy and hold; as business income if you trade frequently Two ITR forms are relevant for
Personal finance rule changes: 3 rule changes that will impact your money from August 1 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/save/3-rule-changes-that-will-impact-your-money-from-august-1/articleshow/84848250.cmsSynopsis From August 1, your salary credit into your bank account, auto-debits related to mutual fund SIPs, home/car/personal loans EMI payments, bill payments such
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