Category: Income Tax

Clipped from: https://www.business-standard.com/article/economy-policy/big-players-stayed-away-from-vivad-se-vishwas-cbdt-chairman-p-c-mody-121040700072_1.html The scheme announced in the Budget last year allowed for the settlement of tax disputes due up to January 31, 2020. PC Mody,

Clipped from: https://economictimes.indiatimes.com/nri/invest/nris-try-to-sidestep-deemed-residency-tax/articleshow/81922380.cmsSynopsis These individuals are booking a slice of their income in jurisdictions like Singapore and Hong Kong to pay a small tax there in

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/taxman-to-access-capital-gains-data-directly-from-fy22/articleshow/81904476.cmsSynopsis A notification issued by the I-T department on March 12 has included stock exchanges, depositories, clearing corporations and registrars to an issue and

Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-department-introduces-json-utility-for-ay-2021-22-itrs-discontinues-excel-java/2227254/ In place of the Excel and Java version of ITR utilities, the CBDT has introduced JSON utility and released a step-by-step guide for

Clipped from: https://www.businesstoday.in/current/economy-politics/income-tax-department-launches-offline-utility-for-itr-1-4/story/435789.html Taxpayers can import and pre-fill the data from e-filing portal and can also fill the remaining data. Since the facility to upload income

Clipped from: https://economictimes.indiatimes.com/wealth/tax/2-5-tds-on-small-savings-if-itr-not-filed/articleshow/81884632.cmsSynopsis Tax experts say this will ensure that tax-free options such as the PPF and other Post Office schemes are not misused by non-filers.

Clipped from: https://economictimes.indiatimes.com/wealth/personal-finance-news/taxman-to-access-capital-gains-data-directly-from-fy22/articleshow/81907295.cmsSynopsis A notification issued by the I-T department on March 12 has included stock exchanges, depositories, clearing corporations and registrars to an issue and

lipped from: https://www.business-standard.com/article/pf/avoid-tax-credit-mismatch-in-income-tax-return-request-experts-121030300038_1.html In case of an error, file a revised TDS return under Section 154(1) Tax credit is the tax deposited in the government’s treasury

Clipped from: https://www.business-standard.com/article/pf/budget-proposals-will-ease-taxpayers-burden-from-april-1-say-experts-121031800045_1.html But changes like taxation of EPF contributions above Rs 2.5 lakh will pinch the wallet Archit Gupta, chief executive officer (CEO) of Cleartax,

Clipped from: https://www.business-standard.com/article/economy-policy/new-itr-forms-aligned-with-changes-in-finance-act-check-details-here-121040500017_1.html Presumptive taxation provisions allow companies below a threshold to not keep detailed accounts of books. Rules were amended to not allow these assesses

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbdt-allows-tax-audit-report-revision-in-case-of-disallowance-recalculation-notifies-rules/articleshow/81871912.cmsSynopsis Section 40 refers to amounts that are not deductible while computing income chargeable under profits and gains of business or profession, while Section

Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-return-forms-for-fy-2020-21-notified-by-the-govt/articleshow/81849254.cmsSynopsis ITR-1 has to be filed by individuals whose total income does not exceed Rs 50 lakh in a financial year. The income sources