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
Category: Income Tax
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
ITR 1 filling salary details: How to fill salary details in ITR-1 for FY 2018-19–Economic Times
Highlights ITR-1 is one of the most widely used forms by the salaried individuals to file their income tax return (ITR). The form is now available on the income
ITR 1 filing: ITR-1 for FY2018-19 asks for interest income break-up from tax payers–Economic Times
In the previous year’s ITR-1 form, the taxpayers were asked to provide an aggregate amount of income from other sources received by them. For the
NRIs need to file income tax return to get TDS refund – The Financial Express
NRIs need to file income tax return to get TDS refund > We live in Melbourne. We have some fixed deposits in India. Recently the
From now, tax defaulters can’t get away by just paying fine – The Economic Times
The government is tightening the prosecution noose around several categories of tax defaulters, such as those who stash black money offshore. These categories of taxpayers will not be
Income tax notice | ITR filing: Don’t make these mistakes to avoid getting tax notice–Economic Times
Here are some tax filing mistakes that can result in a notice and the steps taxpayers should take to avoid getting one. Highlights The tax
Govt probes I-T and GST mismatch in crackdown against evaders – Times of India
Back in office, the Modi government is set to take up the next stage of action against tax evasion and money laundering with data analysis helping detect thousands of
Modi 2.0: Govt mulls steps to lift demand, to focus on lowering I-T rates | Business Standard News
The government had then given over Rs 1 trillion stimulus to spur the economic growth Faced with warning signs of an economic slowdown, the finance ministry has
Senior citizens with taxable income up to Rs 5 lakh can seek TDS exemption on bank interest – The Economic Times
Senior citizens with a taxable income of up to Rs 5 lakh can now submit in banks and post offices Form 15H to claim exemption
ITR-1: How to fill income from other sources in ITR-1 for FY 2018-19 – The Economic Times
The income tax department has made a few changes to the income tax return (ITR) forms for this year. This means that there will be changes in
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