Category: Income Tax

Clipped from: https://www.financialexpress.com/money/income-tax/taxation-of-vacant-property-rent-icai-budget-2023/2934815/ Budget 2023 expectations of homebuyers: Currently, even vacant properties are taxed as if they are let out, which leads to unnecessary litigations. Even

Clipped from: https://www.business-standard.com/article/economy-policy/corporate-tax-collection-to-gdp-ratio-exceeds-3-after-two-years-in-fy-22-123010100074_1.html However, the corporate tax collection is yet to surpass its five-year high of 3.51 per cent of GDP recorded in 2018-19 Corporate tax

Clipped from: https://www.thehindubusinessline.com/economy/income-tax-dept-reiterates-disallowing-expenses-given-to-doctors-by-pharma-companies/article66103098.ece Provisions of Finance Act 2022 explain that claim of any expense incurred in providing benefits is in violation of Indian Medical Council Regulations

Clipped from: https://www.business-standard.com/budget/article/govt-may-tighten-tds-disclosure-for-gaming-firms-rules-expected-in-budget-122122700881_1.html The move is aimed at improving reporting and transparency in these sectors The revenue department is preparing detailed guidelines on the taxability of

Clipped from: https://www.deccanherald.com/business/family-finance/migrating-from-india-heres-how-your-tax-obligations-will-change-1150250.html Emigrating and starting life afresh in a new land is not an easy task compounded by the stringent income tax rules across the

Clipped from: https://www.business-standard.com/article/pf/file-revised-income-tax-return-to-correct-errors-in-original-itr-122122200823_1.html Any refund you are eligible for won’t be processed unless you correct the mistakes in your return After filing your income-tax return (ITR), you

Clipped from: https://www.taxscan.in/supreme-court-holds-education-cess-not-allowable-as-expenditure-u-s-40aii-as-amended-retrospectively-in-budget-2022/234991/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Supreme%20Court By Manu Sharma A S – On December 17, 2022 6:36 am The Supreme Court has held the education cess paid to be not allowable as

Clipped from: https://economictimes.indiatimes.com/wealth/tax/nris-without-pan-can-manually-file-form-10f-till-march-31-2023-to-avoid-tds-on-payments-received/articleshow/96218833.cms Synopsis The Central Board of Direct Taxes (CBDT) has issued a notification on December 12, 2022 offering one-time relied to the non-resident taxpayers

Clipped from: https://www.business-standard.com/article/economy-policy/cbdt-exempts-from-mandatory-10f-form-requires-to-claim-tax-treaty-122121301228_1.html The form 10F is signed physically by the Non resident taxpayers and furnished along with the tax residency certificate to the resident payers

Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-audit-applicability/article66175655.ece Books of account are required to be maintained where the turnover (total value of sale transactions) exceeds ₹25 lakh or if the net