Category: Income Tax

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

Clipped from: https://taxguru.in/income-tax/reassessment-restrained-79-cases-following-section-148a-procedure.html Tarun Goel Vs ITO (Delhi High Court) Conclusion: Revenue authorities were restrained from continuing with reassessment till further orders with respect to notices issued

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-with-glitches-in-e-filing-site-yet-to-be-removed-due-date-extension-looks-inevitable/2322014/ Finance Minister Nirmala Sitharaman has given Infosys a final deadline of September 15 to remove all the glitches from the new e-filing site.

Clipped from: https://www.business-standard.com/article/companies/60-65-small-to-mid-sized-companies-on-i-t-radar-for-tds-mismatch-121083001100_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 These companies had reported healthy advance tax payments According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65