https://taxguru.in/income-tax/critical-role-initial-enquiry-section-148a-a-taxpayer-protection.html Clipped from: https://taxguru.in/income-tax/critical-role-initial-enquiry-section-148a-a-taxpayer-protection.html Section 148A, allows for the reopening of assessments where income chargeable to tax has escaped assessment but before AO issue an order
Category: Income Tax
👍👍👍👍👍👍👍Missed Aadhar-PAN link deadline? Here are transactions you can still do
https://www.business-standard.com/finance/personal-finance/missed-aadhar-pan-link-deadline-here-are-transactions-you-can-still-do-123071300393_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/missed-aadhar-pan-link-deadline-here-are-transactions-you-can-still-do-123071300393_1.html Even if your PAN card is no longer operative, there are certain financial transactions that can still be completed. These transactions, however,
👍👍👍👍👍👍👍Filing ITR for crypto gains: Here’s your guide on taxation for VDAs
https://www.business-standard.com/finance/personal-finance/filing-itr-for-crypto-gains-here-s-your-guide-on-taxation-for-vdas-123071400253_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/filing-itr-for-crypto-gains-here-s-your-guide-on-taxation-for-vdas-123071400253_1.html All cryptocurrency purchases, sales, and transactions are subject to a 30% capital gains tax on profits, with no provisions for reduced rates
👍👍👍👍👍👍👍Attention NRIs: Know the Consequences of Non-Linking of Aadhaar with PAN
Clipped from: https://www.taxscan.in/attention-nris-know-the-consequences-of-non-linking-of-aadhaar-with-pan/299792/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Attention%20NRIs:%20Know%20the%20Consequences%20of%20Non-Linking%20of%20Aadhaar%20with%20PAN The Central Government has issued a directive making it mandatory to link PAN (Permanent Account Number) with Aadhaar card. The deadline for this
Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148 : ITAT Deletes Income Tax Addition
Clipped from: https://www.taxscan.in/bank-statement-needs-to-be-obtained-before-issuing-notice-for-reassessment-u-s-148-itat-deletes-income-tax-addition/298387/ By Ipsita Das – On July 14, 2023 10:00 am – 2 mins read The Delhi bench of Income Tax Appellate Tribunal (ITAT) held that the revenue authorities are
Aadhaar-PAN Link News: ‘Income Tax Refund cannot be issued’, NRI gets Msg. I-T Dept replies | The Financial Express
https://www.financialexpress.com/money/income-tax/aadhaar-pan-link-news-income-tax-refund-cannot-be-issued-nri-gets-msg-i-t-dept-replies/3168412/ Clipped from: https://www.financialexpress.com/money/income-tax/aadhaar-pan-link-news-income-tax-refund-cannot-be-issued-nri-gets-msg-i-t-dept-replies/3168412/ Aadhaar-PAN Link Latest News: Permanent Account Numbers (PANs) of taxpayers who failed to link with Aadhaar by June 30 have become inoperative.
Small saving schemes: Govt tweaks rules, allows NRIs as nominees – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/small-saving-schemes-govt-tweaks-rules-allows-nris-as-nominees/article67052446.ece Clipped from: https://www.thehindubusinessline.com/news/small-saving-schemes-govt-tweaks-rules-allows-nris-as-nominees/article67052446.ece Govt has allowed for the conversion of a joint account into a single account A non-resident Indian (NRI) can now be made
Verify data in pre-filled forms carefully before filing your tax return
https://www.business-standard.com/finance/personal-finance/verify-pre-filled-data-carefully-before-filing-tax-keep-documents-handy-123071100516_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/verify-pre-filled-data-carefully-before-filing-tax-keep-documents-handy-123071100516_1.html Keep all relevant documents handy to to cross-check the data and weed out inaccuracies Photo: Shutterstock The Income-Tax Department now provides pre-filled
Navigating Tax Filing: Understanding Form 26AS and AIS – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/what-taxpayers-must-note-with-form-26as-and-ais/article67027326.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/what-taxpayers-must-note-with-form-26as-and-ais/article67027326.ece A lowdown on the two key forms to accurately file income-tax returns With the deadline for the income-tax return-filing season ending in
Foreign assets mean tax liabilities: Things to mind while filing returns
https://www.business-standard.com/finance/personal-finance/foreign-assets-mean-tax-liabilities-things-to-mind-while-filing-returns-123062900693_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/foreign-assets-mean-tax-liabilities-things-to-mind-while-filing-returns-123062900693_1.html Penalties for non-disclosure or inaccurate disclosure of these details can be severe, say experts Indians holding assets abroad have to cite them
GST Council meeting: Onus of deducting TCS may be on ONDC sellers
https://www.business-standard.com/finance/news/gst-council-meeting-tcs-liability-might-be-on-seller-app-on-ondc-123070900515_1.html Clipped from: https://www.business-standard.com/finance/news/gst-council-meeting-tcs-liability-might-be-on-seller-app-on-ondc-123070900515_1.html Tuesday’s GST Council meet likely to put out clarification Photo via @ONDC_Official on Twitter Listen to This Article The Goods and Services
Income Tax Refund processing: Wrong deductions and exemptions in ITR can land you in big trouble | The Financial Express
https://www.financialexpress.com/money/income-tax/income-tax-refund-processing-wrong-deductions-and-exemptions-in-itr-can-land-you-in-big-trouble/3162513/ Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-refund-processing-wrong-deductions-and-exemptions-in-itr-can-land-you-in-big-trouble/3162513/ Misreporting of income and claiming wrongful deductions while filing the Income Tax Return (ITR) for AY 2023-24 can lead to serious consequences
Income Tax Department targets 50 cases per AO for survey and TDS verification – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/policy/income-tax-department-targets-50-cases-per-ao-for-survey-and-tds-verification/article67060123.ece Clipped from: https://www.thehindubusinessline.com/economy/policy/income-tax-department-targets-50-cases-per-ao-for-survey-and-tds-verification/article67060123.ece To achieve this target, the department has set 16 parameters, including negative trends in TDS payment, cases of sick units, and late
Income Tax Department targets 50 cases per AO for survey and TDS verification – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/policy/income-tax-department-targets-50-cases-per-ao-for-survey-and-tds-verification/article67060123.ece Clipped from: https://www.thehindubusinessline.com/economy/policy/income-tax-department-targets-50-cases-per-ao-for-survey-and-tds-verification/article67060123.ece To achieve this target, the department has set 16 parameters, including negative trends in TDS payment, cases of sick units, and late
👍👍👍👍👍👍👍Income Tax; Both joint account holders liable to pay tax on interest | The Financial Express
https://www.financialexpress.com/money/income-tax/your-queries-income-tax-both-joint-account-holders-liable-to-pay-tax-on-interest/3160686/ Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-both-joint-account-holders-liable-to-pay-tax-on-interest/3160686/ Interest earned on joint accounts are taxable in the hands of both primary and secondary account holders. ITR 1 is a simple
👍👍👍👍👍👍👍ITR forms: Which form to fill and what has changed – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/itr-forms-which-form-to-fill-and-what-has-changed/article67049482.ece lipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/itr-forms-which-form-to-fill-and-what-has-changed/article67049482.ece Income tax filing is done by the individuals in different forms prescribed by the Income-Tax Department The clock’s ticking down to the
I-T dept has taken many initiatives to ensure ease of compliance: Official
https://www.business-standard.com/finance/personal-finance/i-t-dept-has-taken-many-initiatives-to-ensure-ease-of-compliance-official-123070800042_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/i-t-dept-has-taken-many-initiatives-to-ensure-ease-of-compliance-official-123070800042_1.html Principal Chief Commissioner of Income Tax, Andhra Pradesh and Telangana, Mita Madhusmita was addressing a press conference on the ‘Issue of Suspicious
Simply Put: E-verification – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-e-verification/article67052720.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-e-verification/article67052720.ece Verification of return is an essential step to complete the ITR filing process Balaji and Rohit catch up after a long while.
Income Tax Return Revision Time Limit: Can you revise ITR for AY 2022-23 now? | The Financial Express
https://www.financialexpress.com/money/income-tax/income-tax-return-revision-time-limit-can-you-revise-itr-for-ay-2022-23-now/3156435/ Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-revision-time-limit-can-you-revise-itr-for-ay-2022-23-now/3156435/ Income Tax Return revision time limit and rules 2023: An updated return can be filed within 24 months from the end of
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