Category: Income Tax

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/finance-ministry-to-clarify-doubts-on-applicability-of-tds-on-perks-received-in-business-profession/articleshow/91639138.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23 Synopsis The Budget brought in a new section, 194R in the I-T Act which requires deduction of tax at source at the rate

Clipped from: https://www.business-standard.com/article/opinion/limit-section-54-benefit-to-curb-money-laundering-122051501039_1.html Section 54 tax exemption should not be available if the taxpayer already owns two or more properties on the date of sale of

Clipped from: https://www.financialexpress.com/money/the-new-amendments-to-the-income-tax-act-1961-for-charitable-organisations-what-does-it-mean-for-the-common-man/2525337/ With the new amendment, the common man will now be able to claim all the tax benefits of his/her donations. And thus it

Clipped from: https://www.business-standard.com/article/economy-policy/cbdt-lays-out-guidelines-for-manual-scrutiny-of-income-tax-returns-122051300012_1.html Income-Tax department selects cases manually for comprehensive scrutiny Taxmen examine minutiae of manual-scrutiny cases Income-tax (I-T) authorities will manually select those tax returns

Clipped from: https://www.business-standard.com/article/economy-policy/pan-must-for-cash-deposit-or-withdrawal-of-rs-20-lakh-or-more-122051200015_1.html PAN will also be required for opening of current and cash credit account Photo: Shutterstock The Central Board of Direct Taxes (CBDT) issued a notification

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/reassessment-cases-taxman-seeks-clarity-after-sc-upholds-90000-i-t-notices/articleshow/91477153.cms Synopsis The notices issued in the first few months of financial year 2021-22 were based on information from other assessing officers, other government

Clipped from: https://www.thehindubusinessline.com/todays-paper/cbdt-adds-4-criteria-for-mandatory-itr-filing/article65346448.ece New Indian ITR-5 Income tax Form with Indian currency and PAN or Permanent Account Number on isolated background. | Photo Credit: lakshmiprasad S

Clipped from: https://www.financialexpress.com/money/what-are-the-tax-implications-of-investments-in-global-securities-find-out/2500598/ The dividend income earned by an individual gets added to overall income, and the investor receives foreign credit to the extent of tax

Clipped from: https://www.business-standard.com/article/economy-policy/govt-seeks-to-grow-tax-base-makes-filing-must-for-tds-tcs-above-rs-25-000-122042201270_1.html In the case of senior citizens, the aggregate of Rs 50,000 apply; rule came into force on April 21 Tax experts say this

Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-four-key-income-tax-changes-from-fy22-23/2499628/ Taxpayers can now file an updated ITR within two years of the assessment year by paying additional tax Currently, we are in the

Clipped from: https://economictimes.indiatimes.com/wealth/tax/tax-optimiser-nps-perks-can-cut-sinhas-tax-by-rs-83000/articleshow/90894487.cms Synopsis Sudhir Kaushik of Taxspanner.com tells readers how they can optimise their tax by rejigging their income and investments. Pune-based professional Abinash Sinha

Clipped from: https://www.financialexpress.com/money/income-tax/work-from-home-can-you-buy-a-house-in-hometown-on-loan-and-claim-tax-deductions/2496830/ Taking advantage of work from home, many employees – especially those staying on rent in metro cities – may have shifted to their