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
Category: Income Tax
👍*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/ Top Stories In a significant move, the Union Budget 2023 has proposed the measures for widening & deepening of tax base and anti
👍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/ Top Stories The Union Budget 2023, presented by Finance Minister Nirmala Sitharaman has increased threshold limits for presumptive taxation schemes. In order to ease compliance
👍👍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 Income Tax Being frequently involved with high value transactions can put you under the radar of the Income Tax Department and
Claiming HRA deduction? Don’t make these common mistakes to ensure your claim is not rejected – BusinessToday
lipped from: https://www.businesstoday.in/personal-finance/tax/story/claiming-hra-deduction-dont-make-these-common-mistakes-to-ensure-your-claim-is-not-rejected-367135-2023-01-23 To help you get the maximum tax advantage, Neeraj Agarwala, Partner, Nangia Andersen India, walks us through some of the common mistakes people
🙏Tax implications on gift towards investment – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-tax-implications-on-gift-towards-investment/article66368091.ece Gifts given by your son to his wife and daughter are not taxable in their hands under Section 56 of the Income Tax
capital gains tax: ETMarkets Smart Talk: We expect some rationalization in capital gains tax structure in Budget 2023: Reshma Banda – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/expert-view/etmarkets-smart-talk-we-expect-some-rationalization-in-capital-gains-tax-structure-in-budget-2023-reshma-banda/articleshow/97077969.cms Synopsis The Indian economy is relatively better placed than its peers and other advanced economies. In the near-term, returns would be moderate in
S. 50C Not Applicable to Buyer of Property: ITAT directs Re-do Addition u/s 56(2)(vii)
Clipped from: https://www.taxscan.in/s-50c-not-applicable-to-buyer-of-property-itat-directs-re-do-addition-u-s-562vii-read-order/247560/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=S.%2050C%20Not%20Applica Top Stories Pune Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to re-do the addition under section 56(2)(vii) of Income Tax Act, 1961
