Clipped from: https://www.thehindubusinessline.com/multimedia/video/seniors-over-75-with-multiple-accounts-still-need-to-file-tax-returns/article33741357.ece?homepage=true Senior citizens over 75 with multiple bank accounts will not get any exemption from filing Income-Tax returns. Also, those who want refund will
Category: Income Tax
PF interest Tax: Will tax on PF interest also cover contribution to PPF account? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/will-tax-on-pf-interest-also-cover-contribution-to-ppf-account/articleshow/80676396.cmsSynopsis On the plain reading of the budget documents, it appears that tax will apply to the interest earned on contributions made to Employees’
No rethink on Google tax, clarity on NRI tax residency once travel resumes: CBDT chief
Clipped from: https://www.businesstoday.in/current/economy-politics/no-rethink-on-google-tax-clarity-on-nri-tax-residency-once-travel-resumes-cbdt-chief/story/430217.html On the direct tax collection targets for 2021-22, CBDT Chairman PC Mody said that the projections are “realistic and not ambitious”; we are
Budget move to tax PF contributions of over ₹2.5 lakh/year ‘raises retrospectivity questions’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/budget/budget-move-to-tax-pf-contributions-of-over-25-lakhyear-raises-retrospectivity-questions/article33742595.ece?homepage=true Experts say it is no clear how the past contributions will be treated The Budget proposal to tax provident fund contributions above ₹2.5
Equalisation levy: Finance Bill clarification to bring more players under the net – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/equalisation-levy-finance-bill-clarification-to-bring-more-players-under-the-net/article33742923.ece?homepage=true I-T Dept says new taxpayers to pay dues for last two quarters The clarification in the Finance Bill, 2021 on the equalisation levy
Tax rate stability key, Budget not time for tinkering, says finance secretary–the economic times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/tax-rate-stability-key-budget-not-time-for-tinkering-says-finance-secretary-ajay-bhushan-pandey/articleshow/80663570.cmsSynopsis Increased sharing of info between different arms of the govt and banks has made hiding income or evading tax an increasingly difficult task,
Decoding the fine print of Nirmala Sitharaman’s ‘no harm’ Budget – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/budget-2021-key-highlights/articleshow/80621984.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The FM’s third Budget tackles the considerable wishlist of industries and consumers that were impaired by the Covid-19 pandemic, while acknowledging the spending
MCA initiates decriminalisation of LLP Act – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/mca-initiates-decriminalisation-of-llp-act/articleshow/80671734.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The government will decriminalise 12 compoundable offences under the Act and will omit section 73, which relates to penal provisions in case of
Too much onus on tax deductors – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/too-much-onus-on-tax-deductors/article33733832.ece They cannot be expected to track the non-filers Where income tax is deductible at source, the person responsible for deducting is required to
Info-based assessments will help reduce harassment of taxpayers: PC Mody, CBDT chairman – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/info-based-assessments-will-help-reduce-harassment-of-taxpayers-pc-mody-cbdt-chairman/articleshow/80660999.cmsSynopsis The provision, announced in the budget for 2021-22 on Monday, along with limiting the time to three years from six years for opening
Stricter rules for non-complaint taxpayers – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/budget/budget-stricter-rules-for-non-complaint-taxpayers/article33727244.ece?homepage=true Will suffer a higher rate of tax deduction at source On one hand where the Finance Minister had proposed the easing of certain
About 23% of tax disputes amounting to ₹95,000 cr settled under ‘Vivad se Vishwas’: CBDT chairman – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/about-23-of-tax-disputes-amounting-to-95000-cr-settled-under-vivad-se-vishwas-cbdt-chairman/article33729697.ece?homepage=true A disputed amount of ₹95,000 crore has been settled by about 1.20 lakh entities who opted for the ‘Vivad se Vishwas’ scheme to
Key Budget 2021 proposals on direct tax front – The Financial Express
Clipped from: https://www.financialexpress.com/budget/key-budget-2021-proposals-on-direct-tax-front/2184237/ On the direct tax front, the FM has given great relief by not increasing the rate. For the first time, the taxpayers may
6 key budget proposals taxpayers should be aware of – -BUDGET 2021: The Financial Express
Clipped from: https://www.financialexpress.com/budget/budget-2021-6-key-budget-proposals-taxpayers-should-be-aware-of/2184687/ Union Budget 2021-22: Here’s a look at some budget proposals which may impact the salaried class and the common man. Union Budget 2021-22: Keeping
Tax axe on big-ticket PF – -UNION BUDGET 2021: The Financial Express
Clipped from: https://www.financialexpress.com/budget/union-budget-2021-tax-axe-on-big-ticket-pf/2185305/ Interest accrued on PF contributions by employees of more than `2.5 lakh annually to be taxed The Budget has proposed that the interest
Interest earned on PF contributions above Rs 2.5 lakh is taxable now – How you will get impacted – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/interest-earned-on-pf-contributions-above-rs-2-5-lakh-is-taxable-now-how-you-will-get-impacted/2185771/ Since we do not have a social security system in our country, why should the government discourage anyone from contributing a higher amount
ITR, Belated Income tax Return Filing AY 2021-22: Income Tax Return filing due date AY 2021-22 extended for these taxpayers; belated ITR deadline cut | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-filing-due-date-ay-2021-22-extended-for-these-taxpayers-belated-itr-deadline-cut/2185637/ ITR, Belated Income tax Return Filing AY 2021-22: Proposed changes to be effective from April 1, 2021 and accordingly apply for the assessment
What Budget 2021 had in store for individual taxpayers – The Financial Express
Clipped from: https://www.financialexpress.com/budget/what-budget-2021-had-in-store-for-individual-taxpayers/2185933/ While no changes have been proposed to the individual tax rates, the Finance Minister accorded relief in the form of ease of compliance
करावे कर-समाधान : दीर्घावधीच्या भांडवली तोटय़ाची वजावट, दीर्घावधीच्या भांडवली नफ्यातूनच! | लोकसत्ता
Clipped from: https://www.loksatta.com/arthvrutant-news/long-term-capital-loss-deduction-only-from-long-term-capital-gains-abn-97-2391293/ करोना, टाळेबंदी, मंदावलेली अर्थव्यवस्था या पार्श्वभूमीवर अर्थसंकल्पातून काय बदल केले जाणार आहेत याकडे सर्वाचे लक्ष लागले आहे (संग्रहित छायाचित्र) प्रवीण देशपांडे करोना, टाळेबंदी,
Key income tax announcements for taxpayers | BUDGET 2021 |–Deccan Herald
Clipped from: https://www.deccanherald.com/business/union-budget/budget-2021-key-income-tax-announcements-for-taxpayers-946139.html The time limit for reopening of income tax assessment cases has been reduced to three years from six years India unveiled a massive spending
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