Clipped from: https://economictimes.indiatimes.com/news/economy/finance/the-great-indian-tax-paradox-can-the-tax-mop-up-keep-its-pace-in-the-current-fiscal/articleshow/83265391.cmsSynopsis Augmenting tax collection is critical. If the pandemic continues, pro-poor schemes will need more resources. Ramping up the heath infrastructure to prepare for
Category: Income Tax
Income Tax Return: Know the key changes in ITR Forms, filing processes before you start – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-know-the-key-changes-in-itr-forms-filing-processes-before-you-start/2265499/ Apart from a change in the e-filing site, some changes are also made in the ITR Forms for AY 2021-22, as well as
Income Tax Return: Know the key changes in ITR Forms, filing processes before you start – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-know-the-key-changes-in-itr-forms-filing-processes-before-you-start/2265499/ Apart from a change in the e-filing site, some changes are also made in the ITR Forms for AY 2021-22, as well as
Get tax refunds faster now! I-T department to launch new portal on Jun 7–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/get-tax-refunds-faster-now-i-t-department-to-launch-new-portal-on-jun-7/story/440936.html The new taxpayer-friendly portal will be integrated with immediate processing of Income Tax Returns (ITRs) to issue quick refunds to taxpayers, CBDT said.
Simplify the Tax: Put more cash in taxpayers’ hands – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/simplify-the-tax-put-more-cash-in-taxpayers-hands/2264740/ The government should increase the Section 80G deduction limit from 10% to 30% for this year The government should consider doubling the limits
Excise duty mop-up up by 62% in FY21, highest during Modi regime – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/excise-duty-mop-up-up-by-62-in-fy21-highest-during-modi-regime/article34719631.ece Petrol, diesel shore up govt’s revenues to ₹3.89-lakh crore The Centre has collected over ₹3.89-lakh crore through central excise duty during FY21; this
ICAI issues exposure draft of self-evaluation matrix for audit firms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/icai-issues-exposure-draft-of-self-evaluation-matrix-for-audit-firms/article34716686.ece Centre for Audit Quality expected to issue the final version on July 1 The CA Institute has now set the ball rolling on
FEMA and the Income-tax Act: Understanding your tax obligations before you move abroad – Compliance with FEMA | The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/fema-and-the-income-tax-act-understanding-your-tax-obligations-before-you-move-abroad/compliance-with-fema/slideshow/83204678.cms 1/5 Compliance with FEMA According to an article by Archit Gupta, Founder and CEO, ClearTax, any person moving abroad or coming back to
Income Tax Return: From mobile app to new payment options – know benefits of new e-filing site – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-from-mobile-app-to-new-payment-options-know-benefits-of-new-e-filing-site/2263115/ The ITR filing process will resume from June 7, 2021, a day after launch of the new e-filing site – incometax.gov.in – on
Cannot adjust LTCG gains against payments for flat made over 5 years – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-cannot-adjust-ltcg-gains-against-payments-for-flat-made-over-5-years/2262545/ The long-term capital gains from sale of a residential house property (held for more than 24 months) can be claimed as exemption under
All about MF dividend plan nomenclatures – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-mf-dividend-plan-nomenclatures/article34678819.ece Under dividend option, certain portion of the capital can be distributed as dividend College mates discuss money, politics and life over a video
Is flat registration must for claiming long term capital gains? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-is-flat-registration-must-for-claiming-long-term-capital-gains/article34679745.ece I have a flat in one of projects of Amrapali Group in Noida. The builder did not complete the projects on time and
daughters legal rights: When is a daughter legal heir of her parent’s assets and when she is not? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/plan/when-is-a-daughter-legal-heir-of-her-parents-assets-and-when-she-is-not/articleshow/78509788.cms Synopsis–The Supreme Court in its judgement gave equal rights to daughters as sons. Would it mean that under no circumstances can a daughter
Indian Income Tax Act: Everything you need to know on taxation of NRIs under Indian Income Tax Act – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/taxation-of-nris-under-indian-income-tax-act/articleshow/83032625.cmsSynopsis Section 6 of the Income Tax Act prescribes provisions for determination of residential status of an individual. Residential Status is determined by the
करावे कर-समाधान : विवरणपत्र भरण्यास मुदतवाढ, पण.. | Loksatta
lipped from: https://www.loksatta.com/arthvrutant-news/income-tax-department-extended-the-deadline-filing-return-zws-70-2478629/ फॉर्म १६’ देण्याची मुदत १५ जून २०२१ ही होती. ती आता अनुक्रमे ३० जून आणि १५ जुलै २०२१ अशी करण्यात आलेली आहे; प्रवीण
Your Queries (Income Tax): Tax exemption on gain on plot sale if reinvested in new house within 2 years – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-4/2258877/ If by the time of filing of ITR for the relevant assessment year, the net consideration/ part of it cannot be appropriated towards
I-T Department prescribes hybrid formula to determine FMV of capital assets in slump sale – NEWS – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/article34646028.ece Budget 2021 amended the tax law on fair market value The Income Tax Department has notified rules for computation of fair market value
The time has come for a states income tax | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/the-time-has-come-for-a-states-income-tax-121052400287_1.html What better way is there to empower states than for them to have their own income tax and have a greater degree of
Tips on handling tax matters and digital assets of a deceased person | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/tips-on-handling-tax-matters-and-digital-assets-of-a-deceased-person-121052100838_1.html Legal heirs must file tax returns for income earned in the year the dead passed away Benjamin Franklin’s famous quote: “In this world
Is it possible for tax deductors to verify if payee has filed ITR in last 2 years? – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-is-it-possible-for-tax-deductors-to-verify-if-payee-has-filed-itr-in-last-2-years/2258165/ The government, vide Budget 2021,introduced new provisions under Section 206AB/206CCA that prescribe a double rate of TDS/TCS for those, who despite having a
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