Clipped from: https://www.businesstoday.in/money/tax/deadlines-extended-for-income-tax-filing-gst-compliance-check-out-full-details/story/426509.html The government has extended various tax compliance deadlines, including Income Tax Returns, tax audit reports and declaration under ‘Vivad Se Vishwas Scheme, in
Category: Income Tax
ITR Filing deadline: Missing ITR filing deadline on Dec 31 will attract penalty twice that of last year – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/missing-itr-filing-deadline-on-dec-31-will-attract-penalty-twice-that-of-last-year/articleshow/79995676.cmsSynopsis The last date to file income tax return for FY 2019-20 is December 31, 2020. As per the income tax laws, a penalty
Vivad se Vishwas: Direct tax dispute resolution scheme may be extended | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/vivad-se-vishwas-direct-tax-dispute-resolution-scheme-may-be-extended-120123000059_1.html This is due to dismal participation and industry representations seeking more time for declaration With two days to go for Vivad se Vishwas
ITR Filing deadline: Missing ITR filing deadline on Dec 31 will attract penalty twice that of last year – The Economic Times
Synopsis The last date to file income tax return for FY 2019-20 is December 31, 2020. As per the income tax laws, a penalty of
Know how the rent collected is accounted for I-T purpose – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/know-how-the-rent-collected-is-accounted-for-i-t-purpose/article33426617.ece Request response on the following questions on tax pertaining to undivided property and tax applicable to rent: 1. Can the rent allotted from
ITR filing: Who has to file income tax return mandatorily? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/who-has-to-file-income-tax-return-mandatorily/articleshow/78965134.cmsSynopsis As per income tax laws, ITR must be mandatorily filed if a resident individual’s total income during the financial year exceeds the basic
Form 26AS: You must check these 5 things in your Form 26AS – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/you-must-check-these-5-things-in-your-form-26as/articleshow/78329479.cmsSynopsis One of the things you should check in your Form 26AS is the information related to income-tax payments such as advance tax and
icici bank form 16a: How ICICI Bank customers can download Form-16A, interest certificate – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-icici-bank-customers-can-download-form-16a-interest-certificate/articleshow/77143765.cmsSynopsis ICICI Bank customers can download the TDS certificates i.e. Form 16A and interest certificates via Net Banking facility. Here is the step by
ITR filing: List of essential documents to finalise tax return – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-list-of-essential-documents-to-finalise-tax-return/articleshow/79579559.cmsSynopsis An individual is not required to submit any documents while filing an income tax return. However, there are several documents that are required
Income tax return: Last date for filing is Dec 31. Here is how to file yours online – business news – Hindustan Times
Clipped from: https://www.hindustantimes.com/business-news/income-tax-return-last-date-for-filing-is-dec-31-here-is-how-to-file-your-online/story-FAJam8pkhTmQKwNhV44Y8I.html According to rules, those who earn Rs 250,000 or more annually are mandatorily required to file ITRs. The limit for senior citizens or
Failed gambit – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/weak-outcome-of-vivad-se-vishwas-scheme-highlights-flawed-revenue-assessment-policies/article33438760.ece?homepage=true Weak outcome of Vivad Se Vishwas scheme highlights flawed revenue assessment policies With the last day for declarations under the Vivad Se Vishwas
To tax and to please – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/india-can-well-make-the-claim-of-sovereign-right-to-tax-but-it-shouldnt-do-so-retrospectively/article33431750.ece India can well make the claim of sovereign right to tax, but shouldn’t do so retrospectively The government has decided to contest the
About 40% small businesses say it’s impossible to file tax returns by month end, want extension: LocalCircles – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/about-40-small-businesses-say-its-impossible-to-file-tax-returns-by-month-end-want-extension-localcircles/articleshow/79977398.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis As per the survey 41% of small businesses have said that it would be impossible for them to file income tax returns by
Learning to let go: The Hindu Editorial on retro taxes after Vodafone, Cairn setbacks – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/learning-to-let-go-the-hindu-editorial-on-retro-taxes-after-vodafone-cairn-setbacks/article33413359.ece India must ensure policy stability, and not rely on retrospective laws to levy tax The Permanent Court of Arbitration at The Hague on
Courts taxed by too much litigation – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/courts-taxed-by-too-much-litigation/article33419231.ece There are no strict limits on reopening tax assessments. This issue should be resolved, leveraging faceless assessment systems That India is a highly
income tax returns: 3.97 crore ITRs filed for 2019-20 fiscal till December 24 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/3-97-crore-itrs-filed-for-2019-20-fiscal-till-december-24/articleshow/79954067.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis “Over 3.97 crore Income Tax Returns have already been filed till 24th of December, 2020. Have you filed yours as yet? If not,
I-T Department cracks down on evaders ignoring calls, messages – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/i-t-department-cracks-down-on-evaders-ignoring-calls-messages/article33412888.ece?homepage=true Over 6,000 assessees, whose ITRs did not match bank transactions, identified Think twice before you decide to ignore a call or message from
Banking on Budget: Some key indirect tax measures govt should focus on | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/banking-on-budget-some-key-indirect-tax-measures-govt-should-focus-on-120122300437_1.html Having multiple GST rates not only leads to complexities in compliance and tax structure, but also does not optically make India tax-friendly and
Arrests for alleged tax evasion isn’t a joke, time taxman gets a new textbook – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/view-arresting-for-alleged-tax-evasion-is-not-a-knock-knock-joke-time-the-taxman-gets-a-new-textbook/articleshow/79945163.cms Synopsis–Given the fact that arrest under tax laws has become a fairly regular affair, it is necessary that GoI comes out with detailed
Income tax department to zero in on tax evaders under faceless assessment scheme – The Economic Times
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
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