Clipped from: https://www.thehindubusinessline.com/opinion/editorial/equalisation-levy-should-stay-but-clarity-is-needed-on-some-grey-areas/article33895976.ece?homepage=true Equalisation levy should stay, but clarity is needed on some grey areas The vociferous criticism of the changes proposed to the equalisation levy
Category: Income Tax
Open to reviewing ₹2.5 lakh cap on tax-free EPF contribution: FM – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/open-to-reviewing-25-lakh-cap-on-tax-free-epf-contribution-fm/article33896840.ece?homepage=true Says EPF will remain in its present form, and there’s no plan afoot to merge it with NPS Finance Minister Nirmala Sitharaman has
ITR filing: Failed to submit investment proofs? You can still save taxes–business today
If you have no plans to make tax-saving investments, you may opt for the new tax regime. From FY21 onwards, taxpayers have two options– It’s
NPS vs PPF investment: Where should you invest to save for your retirement? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/invest/nps-vs-ppf-investment-where-should-you-invest-to-save-for-your-retirement/articleshow/81035567.cmsSynopsis While PPF gives you one of the highest returns in the fixed income category, equities are known to deliver much higher return in
Tax evasion: I-T department in hunt for small evaders as deadline looms – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/i-t-department-in-hunt-for-small-evaders-as-deadline-looms/articleshow/80965995.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Suddenly, there has been a surge in reopening of returns of small-time tax evaders, with income tax authorities deploying investigation units to search
Tax disputes: ‘Faceless assessment key to solve problem’ – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-disputes-faceless-assessment-key-to-solve-problem/2193806/ The consideration received or receivable for e-commerce supply or services won’t include considerations that are already taxable as royalty or fees for technical
Budget signals focus on improving tax compliance, increasing transparency–SURANJALI TANDON WRITES: –indian express
Clipped from: https://indianexpress.com/article/opinion/columns/union-budget-tax-compliance-economy-gdp-growth-7190263/ With little flexibility to change rates or to redefine the tax base, it is expected that the rate of growth in tax revenue
Reducing the compliance burden – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/reducing-the-compliance-burden/article33844150.ece?homepage=true A master document of all requirements and setting up single-window systems can be the starting point A reduction in regulatory compliance burden on
करावे कर-समाधान : घराचा ताबा मिळाल्यावरच, गृह कर्ज व्याजाची कर वजावट! | लोकसत्ता
Clipped from: https://www.loksatta.com/arthvrutant-news/tax-deduction-on-home-loan-interest-only-after-possession-of-the-house-akp-94-2400815/ मी पुण्यामध्ये एक सदनिका डिसेंबर २०२० मध्ये अग्रिम रक्कम भरून आरक्षित केली आहे. || प्रवीण देशपांडे सर्वसामान्यांच्या जिव्हाळ्याचा विषय असलेल्या घराच्या संदर्भात प्राप्तिकर
Experts unsure if new AAR for direct taxes will resolve disputes faster | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/experts-unsure-if-new-aar-for-direct-taxes-will-resolve-disputes-faster-121021400914_1.html Experts also believe that at least pendency of cases would come down, though only time will tell about quality of orders Illustration: Ajay
Income tax pampers senior citizens with extra benefits; here’s the list–business today
Clipped from: https://www.businesstoday.in/money/tax/income-tax-pampers-senior-citizens-with-extra-benefits-here-the-list/story/431104.html A senior citizen enjoys a higher exemption limit compared to non-senior citizens. While the exemption limit for the financial year 2020-21 available to
Tax disputes: ‘Faceless assessment key to solve problem’ – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-disputes-faceless-assessment-key-to-solve-problem/2193806/ The consideration received or receivable for e-commerce supply or services won’t include considerations that are already taxable as royalty or fees for technical
If you want higher returns, and are prepared for volatility, opt for NPS | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/if-you-want-higher-returns-and-are-prepared-for-volatility-opt-for-nps-121021300034_1.html But be ready for lock-in till the age of 60, volatility, mandatory annuitisation From April 1, the rate of return on Employees’ Provident
Tax disputes: ‘Faceless assessment key to solve problem’ – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-disputes-faceless-assessment-key-to-solve-problem/2193806/ The consideration received or receivable for e-commerce supply or services won’t include considerations that are already taxable as royalty or fees for technical
Keep in mind exemption limit while complaining about few taxpayers: Revenue Secy–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/keep-in-mind-exemption-limit-while-complaining-about-few-taxpayers-revenue-secy/story/430755.html The government had raised the threshold income for paying tax to Rs 5 lakh in the interim budget of 2019. According to data
‘Gilt’ option for citizens–editorial–deccan chronicle
The Reserve Bank of India, during its latest monetary policy review, proposed to allow retail investors to park their money in government securities (G-Secs) —
SC asks CBDT to decide on exemption to NRIs from paying income tax in India–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/sc-asks-cbdt-to-decide-on-exemption-to-nris-from-paying-income-tax-in-india/story/430869.html Several NRIs, stuck in the country due to Covid-19 travel restrictions, have been seeking relief from paying income tax under the residency criteria
Tax on partnership firms: Budget change to put real estate, infrastructure consultancy firms in a fix – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/tax-on-partnership-firms-budget-change-to-put-real-estate-infrastructure-consultancy-firms-in-a-fix/articleshow/80779879.cmsSynopsis After these assets appreciated, they would bring in a new partner and old partners would exit or retire from the partnership after taking
I-T refunds worth Rs 1.91 lakh crore issued between April 1 – Feb 8 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/i-t-refunds-worth-rs-1-91-lakh-crore-issued-between-april-1-feb-8/articleshow/80788118.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Of this, personal income tax refunds of Rs 67,334 crore have been issued to over 1.84 crore taxpayers and corporate tax refunds of
Home buyers to be asked for KYC, info on source of funds by real estate agent – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/real-estate/home-buyers-to-be-asked-for-kyc-info-on-source-of-funds-by-real-estate-agent/articleshow/80326908.cms Synopsis–The government has issued two notifications dated December 28, 2020, making it mandatory for real estate agents to maintain records of transactions facilitated
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