With jobs and incomes dwindling, the demand for tax relief acquires a new urgency. It’s now back to a slow and painful grind to make
Category: Income Tax
gst: Covid-19: Revival of economy through tax measures – The Economic Times
The government (GoI) has so far been very supportive and empathetic towards businesses and was quick to respond through delayed application of few amendments introduced
GST, GAAR reporting delayed till March 2021 amid coronavirus outbreak | Business Standard News
The I-T Dept had, in 2018, changed the tax audit form 3CD, seeking details under GST as well as GAAR, which seeks to prevent firms
Govt dismisses report that proposes to tax the rich, says it is “ill-conceived” – The Economic Times
“It is unequivocally stated that CBDT (Central Board of Direct Taxes) never asked IRS Association or these officers to prepare such a report,” CBDT said
Big Story | Income-tax and investment relaxations for individuals. What you need to know – The Hindu BusinessLine
Taking into account the disruption to daily life caused by the pandemic, the Centre has announced a series of relaxations for taxpayers, investors The Covid-19
Financial reporting, auditing during coronavirus days bring along its own set of challenges – The Hindu BusinessLine
Normally, March and April are busy months for businesses and auditors. But the lockdown following the cornavirus has brought along with it a set of
Arrears’ collection will be tricky | Business Standard Column
We need to understand the nature of the astronomical tax arrears’ figure of Rs 9 trillion The Covid-19 crisis is yet to play out completely.
income tax refund: Not received your income tax refund yet? Follow these steps – The Economic Times
It has come to the notice of the Income Tax Department that certain sections were unable to receive their income tax refunds as there may
CBDT says it’s mails to 1.72 lakh assesses to settle refund against outstanding tax cannot be misconstrued as harassment – The Economic Times
Since April 8, the CBDT has been fast-tracking refund payments to help taxpayers in the COVID-19 pandemic situation and has till date issued nearly 14
Your Queries: NRIs can’t adjust TDS on capital gains against basic exemption limit – The Financial Express
You may avoid double taxation on your income by claiming tax relief if India has signed the Double Taxation Avoidance Treaty (DTAA) with the country
I-T return forms to be modified – The Hindu BusinessLine
The Finance Ministry on Sunday announced that the Income Tax return forms for Assessement Year 2020-21 (fiscal year 2019-20) will be revised. New forms will
Finance Act 2020: Subtle yet significant changes in income-tax rules – The Hindu BusinessLine
Professional income earners can’t opt in and out of new tax regime As the saying goes, there is many a slip between the cup and
Income Tax Department: Direct Tax department sets target of Rs 13.19 lakh crore for FY21 – The Economic Times
Direct tax collections for FY20 missed the revised estimate of Rs 11.7 lakh crore by Rs 1.42 lakh crore, and even fell 8% short of
CBIC orders customs refunds & drawbacks – The Economic Times
The ”Special Refund and Drawback Disposal Drive” will go on till April 30. Issuing the pending GST and Custom refunds will benefit around 1 lakh
Banks and manufacturing companies look at significant deferred tax asset hit on financials – The Economic Times
Mumbai: The uncertainty around future taxable profits because of the Covid-19 virus outbreak may lead to write downs or impairments of tax assets at some top banks,
income tax refund: Govt to give income tax refunds up to Rs 5 lakh immediately due to coronavirus impact – The Economic Times
The Income Tax Department, on its official Twitter handle, announced that it will issue all pending income tax refunds up to Rs 5 lakh immediately to individuals and business
Income tax filing | Coronavirus impact: Income Tax Department cautions against breach in e-filing accounts–Economic Times
NEW DELHI: The Income-Tax Department has asked taxpayers to guard against possible breach of their personal e-filing account and report such an instance to the police cyber security wing. “If
income tax rules for nri: New criteria for NRI status and how income will be taxed in India effective from FY2020-21 – The Economic Times
By Dr. Suresh Surana Among the global pandemic crisis and the expected economic turmoil, the Finance Bill 2020 has been passed by the Parliament with
Govt says financial year 2019-20 not extended; clarifies on income tax compliance | Business News,The Indian Express
The central government on Monday clarified that it has not extended the current financial year 2019-20 which is set to end today March 31. The
Nirmala Sitharaman: Tax filing dates extended, business rules eased, ATM, bank charges waived off in Covid relief measures. Here are key announcements by Nirmala Sitharaman – The Economic Times
Here are the key announcements: Tax measures *For Financial year 2018-19, last date for returns extended to June 30, 2020. Delayed payments made till June
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