Earlier this month, NFRA asked auditors to provide client information on fees received by auditor for statutory audit, tax audit, non-audit services and out-of-pocket expenses.
Category: Income Tax
Haven’t received your tax refund yet? Validate your bank account first | Business Standard News
If you have not received your tax refund, there’s a high probability that you don’t have a pre-validated bank account. From this year onwards, the tax department has made
Budget extends tax on NRIs for receiving gifts from resident Indians – The Economic Times
The Economic Survey said while the sustainable impact of the Insolvency and Bankruptcy Code (IBC) would be known in due course, green shoots had already emerged and
All you need to know about…Buyback tax – The Hindu BusinessLine
Finance Minister Nirmala Sitharaman in her maiden Budget, proposed to levy a tax on buybacks by listed companies. The tax, at 20 per cent, may
File tax returns if you have foreign trips, steep electricity bills – The Hindu BusinessLine
Here is why even those high spenders whose taxable income is below the threshold exemption limit of Rs 5 lakh should also file their returns.
IL&FS: Change in I-T Act may lure buyers to IL&FS–Economic Times
Since the NCLT has allowed recasting of accounts for IL&FS, whether the losses incurred in the recast financial results will be allowed to be carried
I-T will ‘suo motu’ allot PAN to those only furnishing Aadhaar: CBDT chairman – The Economic Times
The taxman will “suo motu” allot a fresh PAN to a person who files I-T returns with only Aadhaar as part of a new arrangement to link
ITR filing: Budget 2019 proposes to make filing ITR easier by providing data from various sources | Income Tax Return
To make tax return filing easier for taxpayers, Finance Minister Nirmala Sitharaman has announced that pre-filled ITR forms will be made available. These forms will now contain
Home Loan: Budget 2019 hikes tax break on interest paid on loan for affordable housing by Rs 1.5 lakh
This will translate in to benefit of Rs 7 lakh to the middle class home buyers over a loan period of 15 years. Budget 2019 proposes
Aadhaar card: Budget 2019: No need for a PAN, you can quote Aadhaar number for filing I-T return–Economic Times
With an aim to simplify tax administration and bring greater transparency, FM has proposed inter-changeability of PAN and Aadhaar. “Those who don’t have PAN, can
ITR filing: 10 challenges taxpayers face while filing ITR–Economic Times
Often it can become difficult to file your tax return if you have switched jobs during the financial year. The process of filing income tax return (ITR)
Direct Tax code: Concise, coherent and consolidated tax structure – The Financial Express
On the direct tax side, the Wealth Tax Act, 1957, was scrapped and a panel constituted in November 2017 to rewrite the existing Income-tax Act.
ITR1 salary details filling | ITR Filing: Tax dept will pre-fill your salary, FD interest, TDS details in ITR1–Economic Times
Interest income from fixed deposits will also be pre-filled from Form26AS. To make the tax filing process easier for individuals, this year the tax department
I-T returns: 3,500 exporters under lens – The Economic Times
The government has trained its guns on around 3,500 exporters whose customs records are not matching their income tax returns, while another 3%-odd traders are under the lens
Labyrinthine disclosures – The Hindu BusinessLine
Instead of getting simpler, IT return forms for small taxpayers are turning tedious by the year It is a peculiarity of the Indian direct tax
Assessment of firms: CBDT wants AOs to verify partnership deeds & salary/income of partners – The Hindu BusinessLine
Move will ensure there is no under-reporting of tax liability Tax authorities will take a closer look at the income and remuneration of partners of
ITR1 filing | Income tax returns: Which salaried individuals can’t file ITR-1 for FY2018-19–Economic Times
If you have made capital gains during the year, you should use ITR-2. And if you have made any business income then use ITR-3. The
Gift taxation | ITR: Gifts have to be declared in ITR: Here’s how they are taxed–Economic Times
By Sudhakar Sethuraman and Vibha Bhaskar Income tax returns notified for financial year 2017-2018 mandated disclosure of gifts received. The tax return forms for financial year 2018-2019
ITR 1 filing | Income tax returns: How to report tax-exempt incomes in ITR-1–Economic Times
Dividends received by you are not taxable in your hands. However, you are required to report them as your tax-exempt income. The way to report
ITR filing forms: Know the correct income tax return form applicable to you for FY 2018-19–Economic Times
By Shalini Jain The Central Board of Direct Taxes (CBDT) notified tax return forms for the Financial Year (FY) 2018-19 on April 01, 2019. While
aniltikotekar4sme.com 