Clipped from: https://www.financialexpress.com/money/your-money-stranded-staff-in-india-look-to-cbdt-sc-for-tax-relief/2275747/ As per Income-Tax Act, based on number of days of stay and other conditions, such stranded employees could qualify as ‘non-resident’ or ‘not
Category: Income Tax
Can you prepay your dead brother’s loan from your funds? – The Financial Express
Clipped from: https://www.financialexpress.com/money/your-queries-loans-4/2275748/ In a personal loan, sometimes banks call for the guarantor to pay the loan outstanding if the borrower is deceased. The payment of
itr: Banks to check if you have filed ITR when income crosses TDS limit from July 1, levy 2X TDS if not – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/banks-to-check-if-you-have-filed-itr-when-income-crosses-tds-limit-from-july-1-levy-2x-tds-if-not/articleshow/83739110.cmsSynopsis The objective of this newly inserted provision in the Income-tax Act, 1961 is to ensure that income tax return filing compliance is fulfilled
How to get Income Tax Return e-filing assistance from CAs, ERIs on new portal incometax.gov.in – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/how-to-get-income-tax-return-e-filing-assistance-from-cas-eris-on-new-portal-incometax-gov-in/2274788/ Assisted Income Tax Return Filing: On the new Income Tax e-filing portal, taxpayers can now add a Chartered Accountant, e-Return Intermediary (ERI) or
Deeply concerned with inconvenience caused by new e-filing portal, committed to resolving all issues at earliest: Infosys – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/deeply-concerned-with-inconvenience-caused-by-new-e-filing-portal-committed-to-resolving-all-issues-at-earliest-infosys/articleshow/83669664.cmsSynopsis On June 9, Infosys had said it expects the system to stabilise in the course of this week. Finance ministry officials will meet
How to file income tax return on the new e-filing portal and its key features – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/itr-filing-how-to-file-income-tax-return-on-the-new-e-filing-portal-and-its-key-features/2274489/ The new income tax e-filing portal provides a refreshing feel and has provided a wider bouquet of services under one umbrella. Taxpayers have
How audit trail can lead to increased compliance and transparency – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/legal/how-audit-trail-can-lead-to-increased-compliance-and-transparency/articleshow/83659127.cmsSynopsis The purpose to go behind the audit trail is to facilitate employer compliance along with enhancing the enforcement of the law to bring
Govt amends rules pertaining to Indian Accounting Standards – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/govt-amends-rules-pertaining-to-indian-accounting-standards/articleshow/83668617.cms?utm_source=ETTopNews&utm_medium=HP&utm_campaign=TN&utm_content=23Synopsis Under the revised rules, entities are required to make additional disclosures related to interest rate benchmark reform. The government has amended rules pertaining
Beware! You may face higher TDS, disruption in banking services from July 1 if you fail to do this – The Financial Express
lipped from: https://www.financialexpress.com/money/beware-you-may-face-higher-tds-disruption-in-banking-services-from-july-1-if-you-fail-to-do-this/2272938/ Once higher tax is deducted, the payer may not process / perform any refund/adjustments at a later date and you have to claim
New norms of TDS/TCS from July 1 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/new-norms-of-tdstcs-from-july-1/article34843196.ece?homepage=true Three key changes relate to purchase of goods, pension income and accelerated TDS rates for non-filers Businesses may be in for some extra
How to make the most of tax deductions on education loan – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/how-to-make-the-most-of-tax-deductions-on-education-loan/2272216/ You can claim tax deductions against education loans under Section 80E of the Income Tax Act. However, there are a few things to
Income-tax portal 2.0 likely to allow payments by UPI, credit cards | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/income-tax-portal-2-0-likely-to-allow-payments-by-upi-credit-cards-121061600016_1.html More pvt lenders set to be given authorisation for providing services Currently, taxpayers have the option to make payments through net-banking of large
Dangers of a wrong diagnosis | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/dangers-of-a-wrong-diagnosis-121061501572_1.html Indirect taxes are now higher than direct taxes. But cutting indirect tax rates to address this will amount to barking up the wrong
Proposed global tax may not benefit developing countries–SURANJALI TANDON WRITES: indian express
Clipped from: https://indianexpress.com/article/opinion/columns/g7-summit-global-minimum-tax-corporate-tax-rates-7359184/ The deal between the seven countries is being labelled a landmark, but in the absence of 132 other members of the inclusive framework,
Know tax implications of credit card transactions – The Financial Express
Clipped from: https://www.financialexpress.com/money/your-money-know-tax-implications-of-credit-card-transactions/2271988/ Attractions such as discounts, cash backs, travel miles, sign up bonuses and reward points offered by merchant dealers or banks, make credit cards
All you need to know about tax on gifts | Deccan Herald
Clipped from: https://www.deccanherald.com/business/all-you-need-to-know-about-tax-on-gifts-994493.html For the purpose of Taxation, a gift refers to the receipt of a sum of money, property or something in kind, by any
YOUR QUERIES: INCOME TAX: Can switch to old tax regime at the time of filing income tax return – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-can-switch-to-old-tax-regime-at-the-time-of-filing-income-tax-return/2271385/ Under the new concessional tax rate regime, individuals can offer their total income at lower slab rate prescribed, provided they forgo certain specified
Income Tax Alert! CBDT relaxes norms for forms 15CA & 15CB amid glitches on new e-filing portal – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-alert-cbdt-relaxes-norms-for-15ca-15cb-amid-glitches-on-new-income-tax-e-filing-portal/2271538/ The Central Board of Direct Taxes (CBDT) has granted relaxation in electronic filing of forms 15CA & 15CB in view of difficulties reported
How not to upgrade vital websites – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/how-not-to-upgrade-vital-websites/articleshow/83519845.cmsSynopsis One cannot transit to a new site, adopt a new process and introduce new features — and do many more consequent changes at
G7 Summit: Less than global leadership – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/g7-summit-less-than-global-leadership/articleshow/83490256.cmsSynopsis India must step up to the vaccination challenge The Carbis Bay communiqué of the G7, the seven richest countries led by the US,
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