Clipped from: https://economictimes.indiatimes.com/small-biz/policy-trends/budget-may-offer-new-direct-tax-dispute-resolution-framework/articleshow/80321893.cmsSynopsis Govt is considering options such as mediation or a permanent dispute resolution system with pre-specified benchmarks on the lines of the ‘Vivad Se
Category: Income Tax
Budget may offer new direct tax dispute resolution framework – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/budget-may-offer-new-direct-tax-dispute-resolution-framework/articleshow/80317756.cmsSynopsis Govt is considering options such as mediation or a permanent dispute resolution system with pre-specified benchmarks on the lines of the ‘Vivad Se
Late income-tax returns surge slows direct tax mop-up contraction | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/late-income-tax-returns-surge-slows-direct-tax-mop-up-contraction-121011500037_1.html Net collection stands at Rs 6.57 trn, compared with Rs 7.24 trn a year ago A surge in filing income-tax returns for the financial year
Gujarat HC declines to interfere in CBDT’s order of not extending due date of Audit Reports – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gujarat-hc-declines-to-interfere-in-cbdts-order-of-not-extending-due-date-of-audit-reports/article33575916.ece?homepage=true Gujarat High Court has decided not to overrule the order by Central Board of Direct Taxes (CBDT) related to the due date for
Now, I-T Dept unveils faceless penalty scheme – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/now-i-t-dept-unveils-faceless-penalty-scheme/article33568767.ece Will set up national, regional centres to conduct e-proceedings and impose penalties As a corollary to faceless assessment and faceless appeal scheme, the
income tax returns: 5% more income tax returns filed this year – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/5-more-income-tax-returns-filed-this-year/articleshow/80231571.cmsSynopsis Over 5.95 crore income tax returns (ITRs) for the fiscal year ended March 31, 2020 (2019-20) were filed by January 10, the Income
income tax: CBDT rejects all representations for further extension of ITR due date – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/cbdt-rejects-all-representations-for-further-extension-of-itr-due-date/articleshow/80219698.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The order was passed in compliance with the directions of the Gujarat High Court that had directed the finance ministry to look into
Income Tax Return: Visiting 80D page is a must even if you don’t have health insurance – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-visiting-80d-page-is-a-must-even-if-you-dont-have-health-insurance/2167907/ In case an assessee has incurred the expenses allowed as deductions u/s 80D for his/her parents, he/she may also claim deductions for the
How to check income tax return status | Check ITR Filing Status
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-check-income-tax-return-status/articleshow/60856625.cmsSynopsis Once the income tax return is filed by you, the income tax department processes your return and is required to send you the
Income tax notice response: How to respond to income tax notice online
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-respond-to-an-income-tax-demand-notice/articleshow/60286178.cmsSynopsis While processing your ITR, if the assessing officer finds that you have paid less tax than what he has calculated, you will be
How to read tax intimation notice under section 143(1) – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-filing-how-to-read-tax-intimation-notice-under-section-1431/articleshow/70875246.cmsSynopsis This notice is sent to you on your registered email ID to inform you whether income tax calculation in the ITR filed by
5 reasons you could get an income tax notice and how to deal with it – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/5-reasons-you-could-get-an-income-tax-notice-and-how-to-deal-with-it/articleshow/79811868.cmsSynopsis Once you have filed your income tax return, the income tax department processes your tax return. If a discrepancy is found, the department
Income Tax dept surveys Flipkart arm, Swiggy on charges of tax evasion by associated vendors – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/income-tax-dept-surveys-flipkart-arm-swiggy-on-charges-of-tax-evasion-by-associated-vendors/2166650/ Tax officials said the action was undertaken at the offices of the two entities– Instakart and Swiggy– in Bengaluru, apart from the office
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
Not filing ITR of your own? You may not get income tax refund – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/not-filing-itr-of-your-own-you-may-not-get-income-tax-refund/2165690/ The Income Tax Department wants people to file ITRs of their own and have taken steps to reduce the dependency on intermediaries. Filing
India’s tax outreach justified – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/indias-tax-outreach-justified/article33503294.ece?homepage=true Right in holding its ground in the Voda retro tax case The challenge is against the award by the Permanent Court of Arbitration
Firms face I-T heat over GST evasion charges; L&T, Zee offices ‘surveyed’ | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/firms-face-i-t-heat-over-gst-evasion-charges-l-t-zee-offices-surveyed-121010500050_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Newsletter_11072018 The crackdown is part of coordinated action against thousands of entities identified by the Directorate General of GST Intelligence, which recently shared the
Indirect taxes: India’s tax pie gets altered because of pandemic; share of direct taxes drops – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/indias-tax-pie-gets-altered-because-of-pandemic-share-of-direct-taxes-drops/articleshow/80095610.cmsSynopsis The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that
Beyond Budget Headlines: Govt should standardise income-tax rates, widen base, Video Gallery – Business Standard
Clipped from: https://www.business-standard.com/multimedia/video-gallery/budget/beyond-budget-headlines-govt-should-standardise-income-tax-rates-widen-base-117490.htm Beyond Budget Headlines: Govt should standardise income-tax rates, widen base The year 2020 was no ordinary year and so the Budget 2021 will
Government ropes in I-T department to crack down on GST fraud – The Hindu
Clipped from: https://www.thehindu.com/business/Economy/government-ropes-in-i-t-department-to-crack-down-on-gst-fraud/article33488214.ece?homepage=true Data being pooled to track evasion, says Finance Secretary. Tightening the noose around fraudsters rigging the Goods and Services Tax (GST) regime, the
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