Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbdt-issues-rules-for-taxing-partnership-companies-in-india/articleshow/84091536.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The Central Board of Direct Taxes (CBDT) has said that capital assets, money or stock in trade received by a partner in a
Category: Income Tax
India joins 130 nations to back minimum corporate tax plan – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/india-joins-global-minimum-tax-rate-plan/article35092841.ece In favour of consensus solution that is simple to implement and comply India on Thursday joined the world’s leading economies in endorsing a
New TDS/TCS regime from July 1 – are you ready? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/policy-trends/new-tds/tcs-regime-from-july-1-are-you-ready/articleshow/83944077.cmsSynopsis The new provision coming into effect requires both sellers and buyers to undertake due diligence w.r.t. tax return filing status of the other
Your Queries (Income Tax): Use ITR Form 1 if you have income from salary and dividend only – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-use-itr-form-1-if-you-have-income-from-salary-and-dividend-only/2280783/ Assuming that you have income only from salary and dividends, you may continue to declare income in ITR-1. Disclosure may be made under
New TDS/TCS regime from July 1 – are you ready? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/policy-trends/new-tds/tcs-regime-from-july-1-are-you-ready/articleshow/83944077.cmsSynopsis The new provision coming into effect requires both sellers and buyers to undertake due diligence w.r.t. tax return filing status of the other
Have sunset clause for economic laws constraining growth: Vijay Kelkar – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/have-sunset-clause-for-economic-laws-constraining-growth-vijay-kelkar/articleshow/83960998.cmsSynopsis Kelkar, who has also served as the Union finance secretary, cited the Land Act and Rent Act while illustrating the constraints posed by
Tax cuts for individuals, companies needed to boost demand, say economists | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/tax-cuts-for-individuals-companies-needed-to-boost-demand-say-economists-121062801313_1.html While the measures announced on Monday are focussed more on the supply side, these steps would take a lot of time to move
Tax system must become less iniquitous | Deccan Herald
Clipped from: https://www.deccanherald.com/opinion/main-article/tax-system-must-become-less-iniquitous-1000460.html High excise on fuel, lower corporate tax and huge unrealised capital gains in a booming stock market are increasing disparity Tripura Pradesh Congress
Can I pay life insurance premium for my wife, daughter for tax deduction? – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/ask-money-today/story/ask-money-today-can-i-pay-life-insurance-premium-for-my-wife-daughter-for-tax-deduction-298259-2021-06-01 The interest rate earned in PPF is reasonably higher and this helps get the benefit of compounding effect over the long term Contribution
Received donations from friends and family; will it be taxable? – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/ask-money-today/story/ask-money-today-received-donations-from-friends-and-family-will-it-be-taxable-296876-2021-05-24 Not all gifts received are taxed. Gifts received from specified close relatives are not taxed and are fully tax-free in the hands of
What is presumptive taxation scheme for professionals? Who can opt for it? – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/what-is-presumptive-taxation-scheme-for-professionals-who-can-opt-for-it/2279158/ This scheme is available only to a resident individual or a partnership firm engaged in a specified profession but not to a limited
All you wanted to know about capital gains account scheme – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/all-you-wanted-to-know-about-capital-gains-account-scheme/article34992880.ece The Income Tax (IT) Act provides certain exemptions on capital gains, arising from sale of land, building, or any other long-term capital asset,
Tax Query: How much money can father send to son working abroad? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-much-money-can-father-send-to-son-working-abroad/article34994238.ece I am working with The Ramco Cements Limited. I am also an employee of a firm and I pay/ file my annual tax
Taxpayers can avail exemption on receipt of Covid-related aid citing SC’s ‘limitation’ order – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/taxpayers-can-avail-exemption-on-receipt-of-covid-related-aid-citing-scs-limitation-order/article34992636.ece?homepage=true Those with taxable income below threshold limit should file returns for getting the exemption, advise experts The Supreme Court’s recent order extending the
No income tax on financial aid for treatment; exemption to ex-gratia received by kin of deceased – The Financial Express
Clipped from: https://www.financialexpress.com/economy/covid-relief-no-income-tax-on-financial-aid-for-treatment-exemption-to-ex-gratia-received-by-kin-of-deceased/2278653/ It also extended the due date of various compliances, including the last date of linkage of Aadhaar with PAN from June 30 to
‘Gain from jaggery making not agri income’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/agri-business/gain-from-jaggery-making-not-agri-income/article34971983.ece Madras HC says conversion to jagger not essential to make cane marketable Profit from the sale of jaggery is not agricultural income. Hence,
In relief to taxpayers, govt announces extension of compliance deadlines | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/in-relief-to-taxpayers-govt-announces-extension-of-compliance-deadlines-121062501274_1.html PAN-Aadhar linkage deadline is extended by another 3 months till Sept 30; payment without interest under dispute-resolution scheme is extended by 2 months
form 16: Deadline to issue Form 16 extended to July 31, more time to save capital gains tax on property – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/deadline-to-issue-form-16-extended-to-july-31-more-time-to-save-capital-gains-tax-on-property/articleshow/83843128.cmsSynopsis Form 16 contains important information required by a salaried employee for filing ITR. The TDS certificate contains all the information related to salary
COVID-19 relief up to ₹10 lakh for victims’ families tax-free – The Hindu
Clipped from: https://www.thehindu.com/business/Economy/financial-aid-sought-for-treatment-costs-also-exempt-from-income-tax/article34973930.ece Financial aid sought for treatment costs also exempt from income tax. The government on Friday announced Income tax relief for COVID-19 affected taxpayers
करावे कर-समाधान : भांडवली संपत्तीची व्याख्या आणि करआकारणी | लोकसत्ता
Clipped from: https://www.loksatta.com/arthvrutant-news/income-tax-on-capital-asset-capital-assets-definition-zws-70-2505565/ भांडवली नफा हा कोणत्या संपत्तीवर करपात्र आहे हे समजल्यानंतर यावरील करपात्रता त्याच्या धारण काळावर अवलंबून असते. प्रवीण देशपांडे व्यक्तीची करपात्रता ही त्याच्याकडील संपत्तीच्या
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