https://www.financialexpress.com/industry/draft-tax-form-for-firms-to-report-inventory-valuation-out/3214201/ To prevent the deferral of taxes through undervaluation of inventory, the income tax department has come out with a draft form for various categories
Category: Income Tax
CBDT issues detailed guidelines on taxation of traditional policies
https://www.business-standard.com/economy/news/cbdt-issues-detailed-guidelines-on-taxation-of-traditional-policies-123081600836_1.html The Central Board of Direct Taxes (CBDT) has released detailed guidelines concerning the alterations in the taxation of life insurance policies under clause (10D)
CBDT issues guidelines on ‘life insurance policy’ related taxation tweak of Finance Act 2023
https://www.thehindubusinessline.com/economy/cbdt-issues-guidelines-on-life-insurance-policy-related-taxation-tweak-of-finance-act-2023/article67202672.ece The Central Board of Direct Taxes (CDT) has issued guidelines on the recent Finance Act 2023 which introduced changes in taxation of life insurance
Tax Talk: Omitting additional income in ITR may get you tax notice
https://www.financialexpress.com/money/tax-talk-omitting-additional-income-in-itr-may-get-you-tax-notice/3211488/ By Neeraj Agarwala Recent reports of the income tax department issuing notices to salaried employees have sparked concerns in all individual taxpayers’ minds. These
What to do about income tax notices on under-reporting/misreporting of income
Read more at: https://www.deccanherald.com/business/explained-what-to-do-about-income-tax-notices-on-under-reportingmisreporting-of-income-2648092 https://www.deccanherald.com/business/explained-what-to-do-about-income-tax-notices-on-under-reportingmisreporting-of-income-2648092 Credit: There is much celebration about the widening taxpayer base. Out of the 6.77 crore income tax returns (ITRs) filed for
👍👍👍👍👍👍👍Presumptive Taxation under section 44ADA for professional
Presumptive Taxation under section 44ADA for professiona Read more at: https://taxguru.in/income-tax/presumptive-taxation-section-44ada-professional.htmlCopyright © Taxguru.in
👍👍👍👍👍👍👍Taxation on Gifts under Income Tax Act, 1961- An In-depth Summary
Taxation on Gifts under Income Tax Act, 1961- An In-depth Summary Giving and Receiving gifts are an integral part of India’s cultural heritage and are
👍👍👍👍👍Rising returns filing is good but tax base is too narrow
https://www.thehindubusinessline.com/opinion/editorial/rising-returns-filing-is-good-but-tax-base-is-too-narrow/article67177062.ece But the increase does not bring cheer since the proportion of taxpayers in the country is still relatively small and many tax returns have
Rising returns filing is good but tax base is too narrow
https://www.thehindubusinessline.com/opinion/editorial/rising-returns-filing-is-good-but-tax-base-is-too-narrow/article67177062.ece Numbers released recently regarding increase in the number of persons filing income tax returns do not come as a surprise given the focus in
What happens if you miss the tax deadline(s) Section 234:
https://www.thehindubusinessline.com/portfolio/personal-finance/section-234-what-happens-if-you-miss-the-tax-deadlines/article67102569.ece Bhadra and Anu catch up over a cup of coffee and an interesting conversation follows: Anu: I am getting constant messages to file ITR and
Why I am not getting Income Tax Refund after filing ITR much before the Due Date? I-T Dept replies
https://www.financialexpress.com/money/income-tax/why-i-am-not-getting-income-tax-refund-after-filing-itr-much-before-the-due-date-i-t-dept-replies/3207579/ Data suggests that some taxpayers may be facing delays in refunds as more than 2 crore returns are yet to be processed. Further, some
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