Category: Income Tax

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/income-tax-department-to-zero-in-on-tax-evaders-under-faceless-assessment-scheme/articleshow/79943835.cms Synopsis–Under the faceless assessment scheme, transactions with the ITRs of taxpayers/entities and selects tax returns for scrutiny that show wide discrepancies in financial

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/i-t-reaches-out-to-individuals-firms-as-the-vivaad-se-vishwas-scheme-vsvs-deadline-nears/articleshow/79803379.cmsSynopsis Assessing officers have identified cases where the I-T department has filed appeals in courts for settlement and in cases where the interest component

Clipped from: https://www.thehindubusinessline.com/portfolio/big-story/how-your-salary-perks-are-taxed/article32931148.ece Your employer might provide you perquisites such as reimbursements, stock options and accommodation. Taxes on these are usually deducted at source by the

Clipped from: https://www.financialexpress.com/money/income-tax/itr-filing-claim-your-tax-deductions-for-the-extended-period-under-schedule-di/2147069/ The claim for deductions and exemptions under Schedule DI will pertain to the investments a taxpayer wants to make for FY 2019-20. Usually,

Clipped from: https://www.thehindubusinessline.com/economy/i-t-dept-allows-revision-of-declarations-filed-under-vivad-se-vishwas-scheme/article33262873.ece?homepage=true Entities filing declaration under the direct tax dispute resolution scheme ‘Vivad Se Vishwas’ can revise them till the time tax authorities issue certificate

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-computing-your-total-taxable-income/articleshow/78142784.cmsSynopsis According to income tax laws, gross total income is divided into five parts. Here is how you can calculate income under each head

Clipped from: https://www.thehindubusinessline.com/portfolio/portfolio-media/how-are-income-from-other-sources-taxed/article33222328.ece?homepage=true Any income that are you have, but ist is not your salary, profits, capital gains or income from income from house properties will

Clipped from: https://www.financialexpress.com/money/income-tax/no-income-tax-on-life-insurance-policies-of-10-or-more-years-icai-recommends-modi-govt/2138601/ Income Tax on Life Insurance policies: ICAI has recommended the Union government to make all life insurance policies with a policy term of

Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-dont-forget-to-file-your-itr-every-year-heres-why/2139374/ Filing of ITR is necessary for carrying forward any losses sustained during the year for set-off in subsequent years There are certain categories

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/what-nri-selling-a-house-must-know/article33205719.ece Ignoring issues related to tax and repatriation can create a cash crunch If you live and work abroad and the pandemic has wrecked

Clipped from: https://www.thehindubusinessline.com/portfolio/big-story/all-you-need-to-know-about-filing-i-t-return/article33200992.ece?homepage=true The last date for tax filing is just a month away. Here’s a guide to save the stress and the last minute rush

Clipped from: https://economictimes.indiatimes.com/wealth/tax/no-tax-on-rent-to-be-paid-by-owner-if-the-tenant-defaults-on-it-tax-tribunal/articleshow/79448305.cmsSynopsis The Income-tax Appellate Tribunal has given this ruling in respect of a case pertaining to Navi Mumbai based leasing company. This will have

Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-return-filing-heres-your-step-by-step-guide/articleshow/69968042.cmsSynopsis Filing your income tax return before the deadline i.e. November 30, 2020, for FY 2019-20 offers certain tax benefits. These benefits include carry

Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-file-itr-1-online/articleshow/69441344.cmsIt is important that you pick the right form to file your income tax return (ITR). This is because if you use the wrong form then