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
Category: Income Tax
Delay in filing of TDS Return due to Lack of Professional Assistance is Mere ‘Technical Breach’: ITAT deletes Income Tax Penalty
Clipped from: https://www.taxscan.in/delay-in-filing-of-tds-return-due-to-lack-of-professional-assistance-is-mere-technical-breach-itat-deletes-income-tax-penalty/237566/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Delay%20in%20filing By Rasheela Basheer – On December 23, 2022 11:47 am The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the delay in the filing
Is it fair to ask you to pay Income Tax for Rs 2.5 lakh when Rs 8 lakh makes one poor? Govt responds | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/is-it-fair-to-ask-you-to-pay-income-tax-for-rs-2-5-lakh-when-rs-8-lakh-makes-one-poor-govt-responds/2920588/ The basic exemption limit provided under the Income Tax Act and income threshold for EWS categorisation are not comparable, says Govt Income Tax
File revised income-tax return to correct errors in original ITR by Dec 31 | Business Standard News
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
Supreme Court holds Education Cess not Allowable as Expenditure u/s 40(a)(ii) as amended retrospectively in Budget 2022
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
करावे करसमाधान:भांडवली नफ्यावरील सवलती – भाग १ | Tax Exemptions on Capital Gains Investment Property Article 54 EC amy 95 | Loksatta
Clipped from: https://www.loksatta.com/business/personal-finance/tax-exemptions-on-capital-gains-investment-property-article-54-ec-amy-95-3343136/ अल्पमुदतीच्या भांडवली नफ्यावरील करबचतीसाठी गुंतवणुकीचे पर्याय नाहीत. दीर्घमुदतीच्या संपत्तीच्या भांडवली नफ्यावरील करबचतीसाठी घर, रोख्यांमध्ये (बॉण्ड) गुंतवणुकीचे पर्याय आहेत. प्रवीण देशपांडे गेल्या लेखात आपण
Income Tax relief for salaried employees: Section 80C to HRA rules change expected from Budget 2023 | The Financial Express*
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-relief-for-salaried-employees-section-80c-to-hra-rules-change-expected-from-budget-2023/2918885/ Salaried employees’ expectations from Budget 2023: Will there be a big bang change in Budget 20223 for salaried class? Here’s what is expected
Tax Query: Will the sale of shares, transferred within family, attract tax? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-will-the-sale-of-shares-transferred-within-family-attract-tax/article66266442.ece Sale of such shares is taxable as Income from Capital Gains My mother-in-law wants to transfer equity shares to my name or my
NRIs without PAN can manually file Form 10F till March 31, 2023, to avoid TDS on payments received – The Economic Times***
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
CBDT exempts NR taxpayers from mandatory Form 10F e-filing for now | Business Standard News*
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
Tax Query: Tax audit applicability – The Hindu BusinessLine*
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
When unpaid loan can be claimed as business loss – The Hindu BusinessLine*****
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-when-unpaid-loan-can-be-claimed-as-business-loss/article66238488.ece The Act does not have provisions for an individual to carry forward or set off losses of a partnership firm in his individual
Income Tax Return: Why is ITR verification time limit reduced? Is the reduction going to stay? | The Financial Express**
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-why-is-itr-verification-time-limit-reduced-is-the-reduction-going-to-stay/2911452/ An ITR filed online is not considered valid, unless it is verified within the prescribed limit – which was 120 days from the
File tax return by Dec 31 if you haven’t yet, to avoid notice and penalty | Business Standard News*****
Clipped from: https://www.business-standard.com/article/pf/taxpayers-should-file-belated-return-by-dec-31-to-avoid-notice-penalty-122121200921_1.html Meeting that deadline will allow you to claim refund on excess tax deducted Taxpayers who missed the July 31, 2022 deadline for filing their
How to file ITR online among the biggest searches in 2022! Know how it’s done | The Financial Express*
lipped from: https://www.financialexpress.com/money/income-tax/how-to-file-itr-online-among-the-biggest-searches-in-2022-know-how-its-done/2909450/ ‘How to file ITR online’ was one of the biggest searches in 2022, according to Google’s ‘Year in Search 2022’ report. Know how
TDS on Rentals: Section 194I, Section 194IB and Section 194IC*
Clipped from: https://taxguru.in/income-tax/tds-rentals-section-194i-section-194ib-section-194ic.html Section 194I : Any person excluding Individual and HUF (However if they have 1 Cr. Turnover in case of Business and 50 Lacs in
Tax Talk – TDS on perks: Further clarity needed despite CBDT circular | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-tds-on-perks-further-clarity-needed-despite-cbdt-circular/2906818/ Several practical challenges in applying Section 194R remain With the objective to identify and tax such benefits, the Finance Bill 2022 introduced Section
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