Category: Income Tax
Check Form 26AS, reconcile with Form 16 before you file your tax r
https://www.business-standard.com/finance/personal-finance/check-form-26as-reconcile-with-form-16-before-you-file-your-tax-return-123070700678_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/check-form-26as-reconcile-with-form-16-before-you-file-your-tax-return-123070700678_1.html Claiming excess tax credit in your return could trigger a notice from the tax authorities Before a taxpayer files his Income-Tax Return
CBDT issues guidelines for re-opening cases post Supreme Court judgement – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/cbdt-issues-guidelines-for-re-opening-cases-post-supreme-court-judgement/article67234001.ece Clipped from: https://www.thehindubusinessline.com/economy/cbdt-issues-guidelines-for-re-opening-cases-post-supreme-court-judgement/article67234001.ece No action is required to be taken under Section 147/148 of the Income Tax Act in cases, where decision of appellate authorities
Sec 54 benefit gets forfeited unless taxpayer meets multiple criteria
https://www.business-standard.com/finance/personal-finance/section-54-benefit-gets-forfeited-unless-taxpayer-meets-multiple-criteria-123082800839_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/section-54-benefit-gets-forfeited-unless-taxpayer-meets-multiple-criteria-123082800839_1.html An ITAT ruling has clarified seller can commit to buy new house much before selling old one Representative Image A recent ruling
👍👍👍👍👍👍👍Understanding Tax Implications for High-Premium Life Insurance Policies: Decoding the CBDT Circular – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/clarifying-new-taxation-rules-in-life-insurance/article67230641.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/clarifying-new-taxation-rules-in-life-insurance/article67230641.ece A recent CBDT circular considers all possible cases and explains tax implications with examples Life insurance policies with annual premium over ₹5
👍👍👍👍👍👍👍Positive Tax Relief for Employees on Rent-Free Accommodation Perquisites – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-relief-for-employees-residing-in-accommodation-provided-by-employer/article67234343.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-relief-for-employees-residing-in-accommodation-provided-by-employer/article67234343.ece A ‘perquisite’ signifies a non-monetary benefit extended by employers to their employees. The value of such perquisites is taxable in the hands
👍👍👍👍👍Sec 54 benefit gets forfeited unless taxpayer meets multiple criteria
https://www.business-standard.com/finance/personal-finance/section-54-benefit-gets-forfeited-unless-taxpayer-meets-multiple-criteria-123082800839_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/section-54-benefit-gets-forfeited-unless-taxpayer-meets-multiple-criteria-123082800839_1.html An ITAT ruling has clarified seller can commit to buy new house much before selling old one Representative Image A recent ruling
New tax norms favour employees living in employer accommodation
https://www.business-standard.com/finance/personal-finance/new-tax-norms-favour-employees-living-in-employer-accommodation-123083000900_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/new-tax-norms-favour-employees-living-in-employer-accommodation-123083000900_1.html Reduction in salary percentage considered as perquisite value and introduction of inflation-linked cap will reduce taxable income Listen to This Article The
अपडेटेड इन्कम टॅक्स रिटर्न कसा भरावा?| how to file upated income tax return mmdc psp-88 | Loksatta
https://www.loksatta.com/business/personal-finance/how-to-file-updated-income-tax-return-mmdc-psp-88-3881341/ Clipped from: https://www.loksatta.com/business/personal-finance/how-to-file-updated-income-tax-return-mmdc-psp-88-3881341/ Money Mantra: आधी कोणतेही रिटर्न करपात्र ‘असताना’ वा ‘नसताना’ दाखल केलेले ‘असताना’ वा ‘नसताना’ हे विवरणपत्र दाखल करता येते ही या विवरणपत्राची
Companies allege getting show-cause notice for prosecution after depositing TDS with late penalty – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/companies-allege-getting-show-cause-notice-for-prosecution-after-depositing-tds-with-late-penalty/article67244567.ece Clipped from: https://www.thehindubusinessline.com/economy/companies-allege-getting-show-cause-notice-for-prosecution-after-depositing-tds-with-late-penalty/article67244567.ece IT Department says not a general trend Companies even after depositing TDS with penal interest are getting show-cause notice from Income Tax
Flat purchase in wife’s name: Can you save tax on capital gains and rental income?
http://www.financialexpress.com/money/income-tax-flat-house-property-purchase-in-wifes-name-can-you-save-tax-on-capital-gains-and-rental-income-3224504/ Income Tax rules for property purchased in wife’s name: Tax liability arises when you sell a flat at a higher price or when you
👍👍👍👍👍👍👍Taxability of Gifts under Income Tax Act, 1961
https://taxguru.in/income-tax/taxability-gifts-income-tax-act-1961.html Clipped from: https://taxguru.in/income-tax/taxability-gifts-income-tax-act-1961.html Gifts are taxed in India under the Income Tax Act, as there is no separate gift tax in India since the abolishment
👍👍👍👍👍New Income Tax portal: CBDT launches revamped website of I-T department | The Financial Express
https://www.financialexpress.com/money/income-tax-new-income-tax-portal-cbdt-launches-revamped-website-of-i-t-department-3223439/ Clipped from: https://www.financialexpress.com/money/income-tax-new-income-tax-portal-cbdt-launches-revamped-website-of-i-t-department-3223439/ The newly revamped website was launched by the Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta at the ‘Chintan Shivir’, organised
👍👍👍👍👍👍👍Positive Tax Relief for Employees on Rent-Free Accommodation Perquisites – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-relief-for-employees-residing-in-accommodation-provided-by-employer/article67234343.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-relief-for-employees-residing-in-accommodation-provided-by-employer/article67234343.ece A ‘perquisite’ signifies a non-monetary benefit extended by employers to their employees. The value of such perquisites is taxable in the hands
👍👍👍👍👍What Are the Tax Implications on Capital Gains from Selling HDFC Limited Shares After Merger with HDFC Bank? – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-implications-on-capital-gains-from-selling-hdfc-ltd-shares-after-merger-with-hdfc-bank/article67205386.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-implications-on-capital-gains-from-selling-hdfc-ltd-shares-after-merger-with-hdfc-bank/article67205386.ece I had bought 200 shares of HDFC Ltd on February 10, 2010, at the average price of ₹550. The market price of these
CBDT issues guidelines for re-opening cases post Supreme Court judgement – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/cbdt-issues-guidelines-for-re-opening-cases-post-supreme-court-judgement/article67234001.ece Clipped from: https://www.thehindubusinessline.com/news/cbdt-issues-guidelines-for-re-opening-cases-post-supreme-court-judgement/article67234001.ece No action is required to be taken under Section 147/148 of the Income Tax Act in cases, where decision of appellate authorities
31 lakh ITR filers are not yet eligible for Income Tax Refund and they have themselves to blame! | The Financial Express
https://www.financialexpress.com/money/31-lakh-itr-filers-are-not-yet-eligible-for-income-tax-refund-and-they-have-themselves-to-blame-3220865/ Clipped from: https://www.financialexpress.com/money/31-lakh-itr-filers-are-not-yet-eligible-for-income-tax-refund-and-they-have-themselves-to-blame-3220865/ Income Tax Return Verification and Refund News (August 24): Many taxpayers submit their returns on the e-filing portal of the Income Tax
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