Clipped from: https://www.business-standard.com/article/economy-policy/experts-unsure-if-new-aar-for-direct-taxes-will-resolve-disputes-faster-121021400914_1.html Experts also believe that at least pendency of cases would come down, though only time will tell about quality of orders Illustration: Ajay
Category: Income Tax
Income tax pampers senior citizens with extra benefits; here’s the list–business today
Clipped from: https://www.businesstoday.in/money/tax/income-tax-pampers-senior-citizens-with-extra-benefits-here-the-list/story/431104.html A senior citizen enjoys a higher exemption limit compared to non-senior citizens. While the exemption limit for the financial year 2020-21 available to
Tax disputes: ‘Faceless assessment key to solve problem’ – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-disputes-faceless-assessment-key-to-solve-problem/2193806/ The consideration received or receivable for e-commerce supply or services won’t include considerations that are already taxable as royalty or fees for technical
If you want higher returns, and are prepared for volatility, opt for NPS | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/if-you-want-higher-returns-and-are-prepared-for-volatility-opt-for-nps-121021300034_1.html But be ready for lock-in till the age of 60, volatility, mandatory annuitisation From April 1, the rate of return on Employees’ Provident
Tax disputes: ‘Faceless assessment key to solve problem’ – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-disputes-faceless-assessment-key-to-solve-problem/2193806/ The consideration received or receivable for e-commerce supply or services won’t include considerations that are already taxable as royalty or fees for technical
Keep in mind exemption limit while complaining about few taxpayers: Revenue Secy–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/keep-in-mind-exemption-limit-while-complaining-about-few-taxpayers-revenue-secy/story/430755.html The government had raised the threshold income for paying tax to Rs 5 lakh in the interim budget of 2019. According to data
‘Gilt’ option for citizens–editorial–deccan chronicle
The Reserve Bank of India, during its latest monetary policy review, proposed to allow retail investors to park their money in government securities (G-Secs) —
SC asks CBDT to decide on exemption to NRIs from paying income tax in India–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/sc-asks-cbdt-to-decide-on-exemption-to-nris-from-paying-income-tax-in-india/story/430869.html Several NRIs, stuck in the country due to Covid-19 travel restrictions, have been seeking relief from paying income tax under the residency criteria
Tax on partnership firms: Budget change to put real estate, infrastructure consultancy firms in a fix – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/tax-on-partnership-firms-budget-change-to-put-real-estate-infrastructure-consultancy-firms-in-a-fix/articleshow/80779879.cmsSynopsis After these assets appreciated, they would bring in a new partner and old partners would exit or retire from the partnership after taking
I-T refunds worth Rs 1.91 lakh crore issued between April 1 – Feb 8 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/i-t-refunds-worth-rs-1-91-lakh-crore-issued-between-april-1-feb-8/articleshow/80788118.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Of this, personal income tax refunds of Rs 67,334 crore have been issued to over 1.84 crore taxpayers and corporate tax refunds of
Home buyers to be asked for KYC, info on source of funds by real estate agent – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/real-estate/home-buyers-to-be-asked-for-kyc-info-on-source-of-funds-by-real-estate-agent/articleshow/80326908.cms Synopsis–The government has issued two notifications dated December 28, 2020, making it mandatory for real estate agents to maintain records of transactions facilitated
Towards decriminalising minor offences – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/towards-decriminalising-minor-offences/article33794159.ece?homepage=true The Centre’s move to separate good-faith errors or omissions from mala fide ones will bolster ease of doing business Assurance as a part
PF interest rate: Tax on PF interest will change the way we invest in it: How the Budget hits your PF – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/invest/tax-on-pf-interest-will-change-the-way-we-invest-in-it-how-the-budget-hits-your-pf/articleshow/80720630.cmsSynopsis This is not the first time the government has proposed to tax Provident Fund money. A significant number of salaried employees use the
Faceless ITAT – a premature experiment – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/faceless-itat-a-premature-experiment/article33775171.ece Virtual assessment, which seeks to eliminate human interface, is welcome, provided the principles of fairness and equity are not eroded Virtual assessments and
Tax on PF interest will change the way we invest in it: How the Budget hits your PF – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/invest/tax-on-pf-interest-will-change-the-way-we-invest-in-it-how-the-budget-hits-your-pf/articleshow/80720630.cmsSynopsis This is not the first time the government has proposed to tax Provident Fund money. A significant number of salaried employees use the
Budget 2021 rationalises tax rules, removes difficulties faced by taxpayers–business today
Clipped from: https://www.businesstoday.in/union-budget-2021/columns/budget-2021-rationalises-tax-rules-removes-difficulties-faced-by-taxpayers/story/430501.html The focus on self-reliance, innovation, research and development, infra capex and digital payments in Union Budget 2021 would definitely help in lifting the
Unfair tax on savings – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/the-budget-proposal-to-tax-pf-contribution-over-a-certain-limit-is-retrograde/article33752232.ece The proposal to tax PF contribution over a certain limit is retrograde The 2021-22 Budget is notable for not imposing fresh taxes, but
‘No retro taxation on interest earned for EPF/GPF contributions of over ₹2.5 lakh’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/no-retro-taxation-on-interest-earned-for-epfgpf-contributions-of-over-25-lakh/article33762741.ece?homepage=true Interest of more than ₹2.5 lakh earned annually from contribution to Employees Provident Fund (EPF) or Government Provident Fund (GPF) will not be
Vivad se Vishwas attracts a quarter of all disputed cases – The Financial Express
Clipped from: https://www.financialexpress.com/economy/vivad-se-vishwas-attracts-a-quarter-of-all-disputed-cases/2188948/ “Vivad se Vishwas was brought by the government in March last year just before the Covid-19 outbreak and has received an overwhelming response
Vivaad Se Vishwas scheme more successful than previous govt initiatives: Source – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/vivaad-se-vishwas-scheme-more-successful-than-previous-govt-initiatives-source/articleshow/80710483.cmsSynopsis So far 125,144 cases have opted for the scheme which is 24.5% of the entire long pending 510,491 cases that were in various
aniltikotekar4sme.com 