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
Category: Income Tax
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
https://www.business-standard.com/finance/personal-finance/report-crypto-earnings-accurately-to-avoid-mismatch-during-verification-123070400597_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/report-crypto-earnings-accurately-to-avoid-mismatch-during-verification-123070400597_1.html New tax forms also require accurate reporting of income from intraday trading and retirement benefit accounts Every year some changes are made
ITR-2: How to file ITR-2 online with salary, capital gains and other incomes for FY 2022-23 – The Economic Times
https://economictimes.indiatimes.com/wealth/tax/how-to-file-itr-2-online-with-salary-capital-gains-and-other-incomes-for-fy-2022-23/articleshow/101457726.cms Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-file-itr-2-online-with-salary-capital-gains-and-other-incomes-for-fy-2022-23/articleshow/101457726.cms Synopsis Read below to find out how income tax return form ITR-2 can be filed online for people with salary, capital gains
income from deemed house: How to calculate deemed rental income from vacant house properties – The Economic Times
https://economictimes.indiatimes.com/wealth/tax/how-to-calculate-deemed-rental-income-from-vacant-house-properties/articleshow/101447054.cms Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-calculate-deemed-rental-income-from-vacant-house-properties/articleshow/101447054.cms Synopsis If someone has more than two house properties and the additional properties are vacant, then the provisions of deemed rental will
👍👍👍👍👍👍👍Capital Gains Exemptions [Section 10(37), 54, 54B, 54D]
https://taxguru.in/income-tax/capital-gains-exemptions-section-1037-54-54b-54d.html Clipped from: https://taxguru.in/income-tax/capital-gains-exemptions-section-1037-54-54b-54d.html Introduction: Since we receive greater income due to capital gains, we must pay more tax during that year. The income tax department
FinMin clarifies on TCS for LRS – The Hindu BusinessLine
https://www.thehindubusinessline.com/todays-paper/tp-economy/finance-ministry-guidelines-explain-what-is-included-for-tax-levy-in-remittances-sent-abroad/article67028741.ece Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-economy/finance-ministry-guidelines-explain-what-is-included-for-tax-levy-in-remittances-sent-abroad/article67028741.ece Tax collected at source (TCS) applicable under the Liberalised Remittance Scheme (LRS) triggered apprehensions. Finance Ministry guidelines aim to offer clarity Education
👍👍👍👍👍Filing your Income Tax returns? Know key changes in ITR for assessment year 2023-24
https://www.business-standard.com/finance/personal-finance/filing-your-returns-know-key-changes-in-itr-for-assessment-year-2023-24-123063000286_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/filing-your-returns-know-key-changes-in-itr-for-assessment-year-2023-24-123063000286_1.html A new disclosure has been added for ‘Income from retirement benefit accounts’. Disclosure is required to be made about the taxable income
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