No mechanism exists with the Income Tax Department (ITD) to ensure that all the registered companies have PAN and are filing their Income Tax Returns
Category: Income Tax
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How many people pay income tax in India? Here’s a glimpse – The Economic Times
According to the Economic Survey, there are only 7 income tax payers for every 100 voters in India. Have you wondered how many people pay income
Tax: Submitting fake bills to lower your tax liability? Tax department has ways to catch you–Economic Times
With the start of the new year, you must be receiving e-mails from your company’s accounts/HR department asking you to claim any reimbursements you are
Senior Citizen Savings Scheme (SCSS): Senior Citizens Savings Scheme saves tax, beats bank FDs: Here’s all you need to know about it–Economic Times
Any individual aged 60 and above can invest in it. Early retirees between 55 and 60 years can also invest in the scheme. The Senior
‘Shocking beyond words’: Start-ups allege angel tax ‘terrorism’ by I-T dept | Business Standard News
Two start-ups have alleged the Income Tax department was harassing them over angel tax, less than 24 hours after Prime Minister Narendra Modi told Parliament how his
Corporate taxes must be rationalised – The Hindu BusinessLine
For kick-starting the investment cycle, the Centre has to bite the bullet and cut tax rates for large companies While the Modi government can take
1.2 bn Indians, but just 150,000 declared income of over Rs 1 crore: CBDT | Business Standard News
Only 150,000 income tax filers have declared earnings of more than Rs 1 crore in the current assessment year, a majority of them being salaried individuals and
Only 50% of PAN linked to Aadhaar – The Hindu
CBDT chief warns of cancellation. With less than two months to go for the deadline to link Permanent Account Number (PAN) and Aadhaar, only a little
Aadhaar-PAN linking mandatory for filing income tax return, says SC | Business Standard News
The Supreme Court has said that linkage of PAN with Aadhaar is mandatory for filing of Income Tax returns. A bench comprising Justices A K Sikri and
Timely review: On start-up tax – The Hindu
Start-ups troubled by the so-called angel tax may soon receive some concession from the government. On Monday, the Centre set up a five-member working committee
‘Filing return a must to get rebate benefit’ – The Hindu BusinessLine
Revenue Secretary Ajay B Pandey has said that one will have to file the return to get the full rebate on taxable income up to ₹5
Budget 2019: Now use capital gains to buy second house also; Know how Section 54 works – The Financial Express
The Finance Bill, 2019 has proposed to extend the exemption for investment made, by way of purchase or construction, in two residential houses provided the
Income Tax exemption limit | Budget 2019: Only those with income up to Rs 5 lakh to pay no tax, rates remain same for all others–Economic Times
What Budget 2019 means for Individual Taxpayers Finance Minister Piyush Goyal has proposed that individuals with yearly income up to Rs 5 lakh will get
Income Tax Saving: How a salaried person with income up to Rs 7.75 lakh can now pay zero tax–Economic Times
You can invest Rs 1.5 lakh under section 80C in any of the eligible tax saving avenues. Going by the Budget 2019 proposals, a salaried
Some sweeteners for aam aadmi – The Hindu BusinessLine
Two important changes reduce the tax outgo for the common man The Change There have been two important changes that will reduce the tax outgo
Taxpayers Beware! 6 transactions which may invite penalty, prosecution under Income Tax Act – The Financial Express
Some media reports recently indicated that the Income Tax Department is issuing tax notices to thousands of taxpayers for minor defaults. This included prosecution notices
Got income tax notice for not filing ITR despite high value transactions? Here’s what to do – The Economic Times
Information details can be viewed under e-verification menu on the Compliance Portal. Many persons who have done high-value transaction in financial year 2017-18, but not yet filed
‘India must become a low-tax-rate, high-tax-compliance nation.. where each citizen pays a moderate rate ’ – The Hindu BusinessLine
As we celebrate our 70th Republic Day, the problems of poverty and destitution still cripple the lives of almost 300 million Indians. As I have
GST: Single rate, fewer exemptions in GST key to boosting India’s tax-to-GDP ratio–Economic Times
India may be eyeing further reforms to lift the tax-to-GDP ratio after putting in place the goods and services tax (GST), one of the country’s biggest policy changes ever.
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