Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-when-deduction-towards-principal-repayment-of-a-home-loan-is-allowed/article66516585.ece In this instance, the individual is a senior citizen who has retired and receives a pension income As co-owner of flat and a
Category: Income Tax
👍👍👍Centre aims to mop up Rs 75,000 cr from senior citizen savings scheme | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/govt-aims-to-mop-up-rs-75-000-crore-from-sr-citizen-savings-scheme-123021601062_1.html Not to overshoot FY24 net borrowing target of Rs 11.8 trn The maximum investable amount of the senior citizen savings scheme (SCSS) —
👍👍👍*Tax market-linked debentures carefully | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/tax-market-linked-debentures-carefully/2981703/ The Finance Bill 2023 proposes to tax the gains from these as short-term capital gains, irrespective of period of holding. Although it seems
👍👍👍Old vs new: Soon, I-T portal may show which tax regime’s best for you | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/new-system-driven-mechanism-in-works-for-opting-tax-regime-govt-official-123021501654_1.html The system will also compare the two schemes in an easy-to-understand format, said another source The income-tax (I-T) department is working on a
👍Government notifies ITR forms for AY 2023-24, makes no substantial changes | Business Standard News
Clipped from: https://www.business-standard.com/article/current-affairs/government-notifies-itr-forms-for-ay-2023-24-makes-no-substantial-changes-123021401569_1.html Income tax return forms have been notified for Assessment Year 2023-24 (for income earned in 2022-23) The finance ministry has allowed individuals against
👍*Opt for presumptive tax scheme only if you can adhere to its rules | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/opt-for-presumptive-tax-scheme-only-if-you-can-adhere-to-its-rules-123021301240_1.html Higher limits are positive, but remember you must stick to scheme for 5 yrs To ease compliance and promote non-cash transactions, Budget 2023
👍Govt likely to put on hold proposal to revamp the capital gains tax regime | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/govt-likely-to-put-on-hold-proposal-to-revamp-the-capital-gains-tax-regime-123020500735_1.html Given global uncertainties, rejigging the tax regime may affect market sentiment The government is likely to put on hold the proposal to revamp
👍Union Budget 2023: Govt Proposes Measures for Widening & Deepening Of Tax Base And Anti Avoidance
Clipped from: https://www.taxscan.in/union-budget-2023-govt-proposes-measures-for-widening-deepening-of-tax-base-and-anti-avoidance/250828/ In a significant move, the Union Budget 2023 has proposed the measures for widening & deepening of tax base and anti avoidance. It
👍Union Budget 2023: Govt to Increase Threshold Limits for Presumptive Taxation Schemes
Clipped from: https://www.taxscan.in/union-budget-2023-govt-to-increase-threshold-limits-for-presumptive-taxation-schemes/250812/ The Union Budget 2023, presented by Finance Minister Nirmala Sitharaman has increased threshold limits for presumptive taxation schemes. In order to ease compliance and to
👍👍Scope to streamline personal income tax in Budget – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/scope-to-streamline-personal-income-tax-in-budget/article66441108.ece An exemption-free option with lower tax rates could aid the eventual removal of exemptions Individuals in the lower income groups need some tax
Tax query: Applicability of section 44AD for freelance work – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-applicability-of-section-44ad-for-freelance-work/article66434903.ece If opted for, presumptive taxation scheme will have to be followed for five years Those rendering professional consultancy services as listed in the
Ask Us – Tax Matters–The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/ask-us/article66422915.ece Q. I am a senior citizen drawing pension. For the past 15 years, I have been investing in tax-saving instruments, mostly in ELSS
👍👍Taxpayers Beware! These High Value Transactions can attract Show Cause Notice from Income Tax Dept
Read More: https://www.taxscan.in/taxpayers-beware-these-high-value-transactions-can-attract-show-cause-notice-from-income-tax-dept/247644/ Clipped from: https://www.taxscan.in/taxpayers-beware-these-high-value-transactions-can-attract-show-cause-notice-from-income-tax-dept/247644/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Taxpayers%20Beware!%20These%20High%20Value%20Transactions%20can%20attract%20Show%20Cause%20Notice%20from%20Income%20Tax%20Dept Being frequently involved with high value transactions can put you under the radar of the Income Tax Department and unsurprisingly, you
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