Clipped from: https://www.thehindubusinessline.com/economy/covid-relief-delhi-hc-asks-i-t-dept-to-give-3-weeks-notice-to-assessee-before-taking-any-coercive-action/article34508991.ece Petitioners plead for issuance of directions for waiver of charges towards tax payment delay The Delhi High Court has asked the Government to
Category: Income Tax
Ask Money Today: How does Capital Gains Account Scheme work in buying a house property?
Clipped from: https://www.businesstoday.in/money/ask-money-today/ask-money-today-how-does-capital-gains-account-scheme-work-in-buying-a-house-property/story/438363.html It is required to utilise capital gains amount towards acquisition of property before filing of ITR. If you don’t, then this amount should
Centre mulls relaxing Rs 2 lakh cash transaction limit for COVID-19 treatment–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/centre-mulls-relaxing-rs-2-lakh-cash-transaction-limit-for-covid-19-treatment/story/438537.html The high court was hearing a plea seeking suspension of Section 269ST of the Income Tax Act which puts a bar on a
Foreigners won’t need PAN for investment in GIFT alternate investment funds | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/government-eases-gift-entry-for-foreign-investors-in-category-iii-aifs-121050500483_1.html PAN requirement will no longer apply to such investors The government has eased personal account number (PAN) requirements for foreign investors in the
Income Tax Dept sets threshold for significant economic presence – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/income-tax-dept-sets-threshold-for-significant-economic-presence/article34473809.ece Rules prescribing thresholds for SEP provisions would have limited impact, say experts The Income Tax Department on Monday notified a threshold for Significant
Planning to set up a trust? Reduce litigation risk, say analysts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/planning-to-set-up-a-trust-reduce-litigation-risk-say-analysts-121050401390_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 It’s exempted from the probate process; courts don’t get involved in its execution “There is an absolute absence of any court process in
India notifies digital tax threshold of Rs 2 crore and 300,000 users | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/india-notifies-digital-tax-threshold-of-rs-2-croreand-300-000-users-121050400156_1.html This is part of the Significant Economic Presence (SEP) principle, which was introduced in the Finance Bill 2018-19 In order to tax Facebook,
Arbitrage and profits in stock trading – The Financial Express
lipped from: https://www.financialexpress.com/money/your-money-arbitrage-and-profits-in-stock-trading/2245818/ The logic is based on the argument that either way the dealer ought to make a profit. Now the dealer’s borrowing rate is
Fractional ownership fast catching attention of NRIs, HNIs and UHNIs – The Financial Express
Clipped from: https://www.financialexpress.com/industry/fractional-ownership-fast-catching-attention-of-nris-hnis-and-uhnis/2245807/ As Covid-19 posed unprecedented economic challenges for real estate, investors were forced to explore emerging and alternate investment classes like fractional ownership, which
Income Tax: Gains from share trading taxed under business profit, file ITR 3/4 – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-gains-from-share-trading-taxed-under-business-profit-file-itr-3-4/2245835/ Separate disclosure of each source of income shall have to be made in the ITR Form, whether or not you choose to be
Food Processing Ministry floats EoI for PLI scheme – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/food-processing-ministry-floats-eoi-for-pli-scheme/article34472819.ece Selected applicants will get sales-based sops after fulfilling fresh investment target The Ministry of Food Processing has floated an expression of interest (EoI)
Income Tax Dept sets threshold for significant economic presence – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/income-tax-dept-sets-threshold-for-significant-economic-presence/article34473809.ece Rules prescribing thresholds for SEP provisions would have limited impact, say experts The Income Tax Department on Monday notified a threshold for Significant
Income Tax Dept sets threshold for significant economic presence – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/income-tax-dept-sets-threshold-for-significant-economic-presence/article34473809.ece?homepage=true Appeal to Commissioner can be filed within the time provided or May 31 Appeal to Commissioner can be filed within the time provided
Tax Query: How to close HUF account with the I-T Department – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-how-to-close-huf-account-with-the-i-t-department/article34460660.ece?homepage=true My friend is having an HUF account. Till 2016 he had business income in HUF. He has two sons and a spouse. Both
Income Tax: Extension of Due Dates- Extended due dates–tax guru
Clipped from: https://taxguru.in/income-tax/income-tax-extension-due-dates-extended-due-dates.html In order to provide much awaited relief to its taxpayers during the pandemic faced by the entire country, the Central Board of Direct
IT Department extends compliance dates – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/it-department-extended-compliance-dates/article34456604.ece Must file returns on or before May 31 Income Tax Department on Saturday eased the compliance by extending certain due dates. The payment
MSMEs seek easing of NPA, compliance rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/msmes-seek-easing-of-npa-compliance-rules/articleshow/82287398.cmsSynopsis The Federation of Indian Small and Medium Enterprises (FISME) also pitched for creation of a “war-room” to monitor prices of key raw materials
Assocham MSME chairman urges Centre to relax norms in view of second wave – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/assocham-msme-chairman-urges-centre-to-relax-norms-in-view-of-second-wave/articleshow/82320910.cmsSynopsis Assocham along with other national and regional organisations have urged the Centre to extend the deadline for statutory filings in view of the
Covid second wave: Industry body, MSMEs drag government, taxman to court over not extending deadlines – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/second-covid-wave-industry-body-msmes-drag-government-taxman-to-court-over-not-extending-deadlines/articleshow/82321202.cmsSynopsis Companies are worried that they would face penalties and jail term if they don’t follow deadlines. MUMBAI: An industry association and a group
capital gains tax: How can I save on capital gains tax from sale of plot? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-can-i-save-on-capital-gains-tax-from-sale-of-plot/articleshow/82291322.cmsSynopsis The due date to invest in CGAS is 31 July 2021. Investments in post office time deposits are not eligible for the purpose
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