Clipped from: https://www.thehindubusinessline.com/business-laws/judiciary-walks-the-talk-on-taxpayers-charter/article34573636.ece As promised in the Taxpayers Charter, the IT department is committed to providing fair treatment and delivering professional assistance in all dealings with
Category: Income Tax
Section 301 hearing: Indian industry fights tariffs proposed by US as retaliation against digital tax – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/section-301-hearing-indian-industry-fights-tariffs-proposed-by-us-as-retaliation-against-digital-tax/article34573474.ece Exporters of basmati, gems & jewellery, steel, seafood argue that proposed tariffs will escalate dispute, hurt industry, consumers in both countries Strong arguments
Non-resident entities seek withholding tax breather amid second Covid wave | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/non-resident-entities-seek-withholding-tax-breather-amid-second-covid-wave-121051700026_1.html In absence of certificates, they risk having 40% tax cut from revenues Lockdowns have been imposed over most of the country to slow
Stricter RBI rules force auditors to rethink on assessing holding companies – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/stricter-rbi-rules-force-auditors-to-rethink-on-assessing-holding-cos/articleshow/82689602.cms Synopsis–Holding companies of large corporate entities are now categorised as “deemed” Non Banking Finance Companies (NBFCs) even if they have not borrowed a
Reimbursement claimed on welfare expenses incurred by multinationals in India outside gamut of tax: ITAT – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/reimbursement-claimed-on-welfare-expenses-incurred-by-multinationals-in-india-outside-gamut-of-tax-itat/articleshow/82680179.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Tax tribunal lays out ground rules for taxing such expenses, should benefit Indian arms amidst Covid pandemic. It said that there should be
Tax Query: How will spouse of NRI be taxed on stock trading gain funded by joint bank account in India? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-will-spouse-of-nri-be-taxed-on-stock-trading-gain-funded-by-joint-bank-account-in-india/article34569341.ece I am an NRI and I have an NRE trading account and savings account with one of the private banks of India. I
Covid has exposed holes in handling of personal finances, says a BL Portfolio survey – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/big-story/covid-has-exposed-holes-in-handling-of-personal-finances-says-a-bl-portfolio-survey/article34567209.ece?homepage=true The pandemic has taught many money management lessons. Here are key takeaways from the survey As the second wave of the pandemic rages
Stranded NRIs look at Cambodia, Vietnam & Lanka for tax tourism – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/migrate/stranded-nris-look-at-cambodia-vietnam-lanka-for-tax-tourism/articleshow/82612491.cmsSynopsis Many multinational employees are stuck in India as several countries are not allowing Indians to fly back. In other cases, some NRIs want
Own Bitcoin? You may be required to disclose it in I-T returns – The Economic Times
lipped from: https://economictimes.indiatimes.com/markets/cryptocurrency/make-individuals-disclose-bitcoin-assets-in-i-t-returns-crypto-players-tell-government/articleshow/82606463.cmsSynopsis Crypto players have requested the government to make specific provisions in the Income Tax Act that would lead to individual crypto holders of
Income Tax notice: 6 high-value cash transactions that can get you an income tax notice – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/6-high-value-cash-transactions-that-can-get-you-an-income-tax-notice/articleshow/82544062.cmsSynopsis Here is a look at some of the high-value cash transactions that can that can get you an income tax notice from the
CSR spending: Corporates told to create accounting ‘liability’ for unspent amounts – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/csr-spending-corporates-told-to-create-accounting-liability-for-unspent-amounts/article34536833.ece CA Insitute’s clarification follows MCA’s diktat on fulfilling ‘obligation’ Close on the heels of the Ministry of Corporate Affairs (MCA) requiring companies to
Mutual Funds: You can withdraw money from ELSS after lock-in period and reinvest it – The Financial Express
lipped from: https://www.financialexpress.com/money/mutual-funds/your-queries-mutual-funds-you-can-withdraw-money-from-elss-after-lock-in-period-and-reinvest-it/2250103/ I have been investing in ELSS for the past five years. As the lock-in is for three years, can I withdraw my first
Time to slash stamp duty – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/time-to-slash-stamp-duty/article34528970.ece The Damani property deal must lead to a rethink In one of the biggest property deals, DMart founder Radhakishan Damani and his brother,
I-T dept goes after hospitals taking cash payment to treat Covid patients | Business Standard News
Clipped from: https://www.business-standard.com/article/current-affairs/finance-ministry-asks-cbdt-to-penalise-hospitals-fleecing-covid-19-patients-121051100028_1.html Finance ministry asks department to penalise hospitals found with unaccounted cash, prevent evasion. A patient suffering from the coronavirus disease (Covid-19) waits to
Hospitals allowed to take cash payments of over Rs 2 lakh | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/economy/hospitals-allowed-to-take-cash-payments-of-over-rs-2-lakh-7306392/ The government has allowed hospitals, dispensaries and Covid care centres to accept cash payments in excess of Rs 2 lakh from patients or
करावे कर-समाधान : ‘फॉर्म २६ एएस’ ही काय भानगड? | लोकसत्ता
Clipped from: https://www.loksatta.com/arthvrutant-news/importance-of-form-26as-in-itr-filing-process-zws-70-2466301/ करदात्याने मोठय़ा रकमेचे व्यवहार केले असल्यास याची माहितीसुद्धा ‘फॉर्म २६ एएस’मध्ये दिसते. प्रवीण देशपांडे pravin3966@rediffmail.com करदात्याला विवरणपत्र भरण्यापूर्वी ‘फॉर्म २६ एएस’ तपासण्यास सांगण्यात
How India is leading by example with its faceless E-assessment system for income tax – The Financial Express
Clipped from: https://www.financialexpress.com/economy/how-india-is-leading-by-example-with-its-faceless-e-assessment-system-for-income-tax/2247824/ The most important aspect of new procedure is coverage of ‘Best judgement assessment’ in faceless Assessment Scheme. Over the last few years, the
Several hospitals come under taxman’s probe – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/several-hospitals-come-under-taxmans-probe/articleshow/82474009.cmsSynopsis It comes as the government has received several complaints that many hospitals have refused to accept payments in any other mode but cash.
SEBI notifies relaxed rules for listing start-ups – The Hindu
Clipped from: https://www.thehindu.com/business/Industry/sebi-notifies-relaxed-rules-for-listing-start-ups/article34508771.ece The changes have been made to the framework for listing on the Innovators Growth Platform (IGP), according to two separate notifications issued on
Delhi High Court stays show cause notice by I-T dept under faceless assessment regime – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/hc-stays-show-cause-by-i-t-under-faceless-assessment-regime/articleshow/82465756.cmsSynopsis The Delhi High Court said the submission that there was a breach of principles of natural justice appears to be prima facie correct.
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