Clipped from: https://economictimes.indiatimes.com/news/economy/finance/15th-finance-commission-keeps-tax-devolution-to-states-at-42-suggests-fiscal-deficit-glide-path/articleshow/80629623.cmsSynopsis Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in
Category: Income Tax
income tax slab: No changes in income tax slabs, rates, deductions, exemptions in Budget 2021 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/no-changes-in-income-tax-slabs-rates-deductions-exemptions-in-budget-2021/articleshow/80628697.cmsSynopsis With no change in the basic exemption limit, income tax slabs and rates, an individual tax payer will continue to pay the tax
LTC Cash Voucher Scheme notified in Budget 2021 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/personal-finance-news/ltc-cash-voucher-scheme-notified-in-budget-2021/articleshow/80630267.cmsSynopsis The benefit of the LTC Cash Voucher scheme is available in the old tax regime. If an individual opts for the new tax
Tax benefit on mergers and acquisitions withdrawn – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/tax-benefit-on-mergers-and-acquisitions-withdrawn/articleshow/80629225.cmsSynopsis The government in the Budget 2021 said that no depreciation would be allowed on goodwill. Up until now many companies would end up
Personal I-T revenue now equals all other direct taxes: That’s a problem | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/personal-i-t-revenue-now-equals-all-other-direct-taxes-that-s-a-problem-121013001192_1.html Until the 1950s taxes on output contributed more to government revenue than those on incomes of people and businesses. But since then the
Excise duty collection jump 48 % this fiscal on record hike in taxes on petrol, diesel – The Hindu
Clipped from: https://www.thehindu.com/business/Industry/excise-duty-collection-jump-48-this-fiscal-on-record-hike-in-taxes-on-petrol-diesel/article33593119.ece With this, the total incidence of excise duty on petrol rose to ₹ 32.98 per litre and that on diesel to ₹ 31.83
How Budget 2021 can reduce tax burden, ensure Acche Din for pensioners, senior citizens – The Financial Express
Clipped from: https://www.financialexpress.com/budget/how-budget-2021-can-reduce-tax-burden-ensure-acche-din-for-pensioners-senior-citizens/2182318/ With the Budget 2021 around the corner, senior citizens as well as those nearing retirement or who have retired recently want the government
Tax Ombudsman needed to protect tax-payer’s rights: Eco Survey – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/personal-finance-news/tax-ombudsman-needed-to-protect-tax-payers-rights-eco-survey/articleshow/80577027.cmsSynopsis To avoid the conflict of interest, ensure fair dealings and consequently build the trust between taxpayers and the concerned tax authority, it is
Income tax regime: New, or old: Which tax regime makes the most sense for you? | India Business News – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/india-business/new-or-old-which-tax-regime-makes-the-most-sense-for-you/articleshow/80459936.cms NEW DELHI: The Union Budget is around the corner and given the tough year it has been due to the pandemic, the expectations of the
Time to shelve personal income tax – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/time-to-shelve-personal-income-tax/article33669256.ece?homepage=true The salaried bear the brunt – Getty Images/iStockphoto The salaried bear the brunt – Getty Images/iStockphoto× The revenue lost on this count will
Govt mulls revenue dept restructuring; CBIC, CBDT to focus on collection | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/govt-mulls-revenue-dept-restructuring-cbic-cbdt-to-focus-on-collection-121012700038_1.html People in the know said the government was examining measures like the strengthening of the Central Economic Intelligence Bureau (CEIB) The government is
All you need to know about Revised ITR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/columns/slate/all-you-need-to-know-about/article33661086.ece Have you filed your income tax return (ITR) for the financial year 2020 but discovered you forgot something or made a wrong statement
The gaping loopholes in India’s faceless penalty scheme and how to plug them – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/view-the-gaping-loopholes-in-indias-faceless-penalty-scheme-and-how-to-plug-them/articleshow/80411755.cms Synopsis–In order to make the faceless penalty scheme be effective, it is, therefore, important that the allocation of cases is proper. FPS envisages
I-T refunds worth ₹1.76 lakh cr issued till January 18 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/i-t-refunds-worth-176-lakh-cr-issued-till-january-18/article33623057.ece?homepage=true Of this, personal income tax refunds of ₹58,631 crore have been issued in 1,62,39,742 cases The Income Tax department on Wednesday said it
CBIC calls for ‘disciplinary’ action in case of appeal dismissed on account of late filing – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/cbic-calls-for-disciplinary-action-in-case-of-appeal-dismissed-on-account-of-late-filing/article33617935.ece?homepage=true Officials told to strictly adhere to timeline in filing appeals/ petitions before courts or tribunal The Central Board of Indirect Taxes & Customs
करावे कर-समाधान : चढय़ा शेअर बाजारात विक्रीच्या विचारात असाल तर.. | लोकसत्ता
Clipped from: https://www.loksatta.com/arthvrutant-news/capital-gains-tax-capital-gain-tax-on-shares-zws-70-2381670/ भांडवली नफ्यावरील कर आकारणी जाणून घ्या! भांडवली नफ्यावरील कर आकारणी जाणून घ्या! प्रवीण देशपांडे मागील काही दिवसात शेअर बाजारात तेजी दिसून येत आहे
Cleaning up taxes | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/cleaning-up-taxes-121011801532_1.html Govt must seize opportunity to reform holes in tax system In the run-up to the Union Budget, the finance ministry must be wrestling
Not the time for big bang tax reform–the economci times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/not-the-time-for-big-bang-tax-reform/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The coming budget offers narrow scope for sweeping
Senior citizens: Strike a balance between tax saving and liquidity | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/senior-citizens-strike-a-balance-between-tax-saving-and-liquidity-121011801444_1.html They must also maximise the utilisation of the higher deductions available to them The government offers several benefits to senior (60-80 years of
Cleaning up taxes | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/cleaning-up-taxes-121011801532_1.html Govt must seize opportunity to reform holes in tax system In the run-up to the Union Budget, the finance ministry must be wrestling
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