Clipped from: https://economictimes.indiatimes.com/news/economy/policy/itr-1-2-4-filing-e-proceedings-certain-other-key-functionalities-available-on-new-i-t-portal-government/articleshow/85178760.cmsSynopsis In a reply to a question on whether technical glitches continue to mar the functioning of the new IT portal, Minister of State
Category: Income Tax
Tax consultants challenge constitutional validity of ‘Faceless Appeal Scheme’ in Bombay HC – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/tax-consultants-challenge-constitutional-validity-of-faceless-appeal-scheme-in-bombay-hc/articleshow/85188953.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis One of the oldest industry bodies of professionals has argued that there is a reasonable apprehension in the mind of the taxpayers that
5 investment strategies that can help you avoid tax legally, improve your investment returns – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/invest/5-investment-strategies-that-can-help-you-avoid-tax-legally-improve-your-investment-returns/articleshow/84703486.cms SynopsisEarning higher returns is not in the hands of investors. However, they can take steps to minimise their tax outgo. In this cover
I-T dept issues 3 email IDs for registering grievances under faceless assessment scheme – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/i-t-dept-issues-3-email-ids-for-registering-grievances-under-faceless-assessment-scheme/2306303/ Under the faceless assessment system, a taxpayer or an assessee is not required to visit an I-T department office or meet a department
A bold move to bury the retro tax ghost – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-view/et-view-a-bold-move-to-bury-the-retro-tax-ghost/articleshow/85073317.cmsSynopsis The Bill, introduced in the Lok Sabha, nullifies the tax demand on the indirect transfer of Indian assets on transactions prior to 28
Retrospective tax goes, not soon enough – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/retrospective-tax-goes-not-soon-enough/2305304/ Odd that the govt took this long to see sense on the matter, but this is the first step towards a less-litigious tax
Defer income-tax filing if you have to pay a penalty, say analysts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/defer-income-tax-filing-if-you-have-to-pay-a-penalty-say-analysts-121080600013_1.html Do so once the glitches on the new tax portal have been ironed out Timely filing of returns carries several benefits Owing to
Good sense, finally | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/good-sense-finally-121080501755_1.html Govt wasted nine years in trying to defend the indefensible retro tax The government has introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to
Move to do away with infamous retro tax will boost investment sentiments | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/move-to-do-away-with-infamous-retro-tax-will-boost-investment-sentiments-121080501695_1.html The Bill now introduced in the Parliament proposes to provide that no tax demand shall be raised on indirect transfers effected prior to
Retro tax must be resolved via Indian law, not arbitral award: Somanathan | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/retro-tax-must-be-resolved-via-indian-law-not-arbitral-award-somanathan-121080600035_1.html Somanathan says that the government doesn’t support retrospective taxation since it creates sudden and fresh liability and is not in line with the
Govt buries retro taxes; brings bill in LS to withdraw tax demand on Cairn, Vodafone – The Hindu BusinessLine
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
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
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