Category: Income Tax

Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/itr-forms-for-ay-22-23-notified/article65283013.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/income-tax/govt-notifies-itr-forms-for-2021-22-seeks-details-of-income-from-overseas-retirement-benefit-ac/2478811/ ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers.Sahaj

Clipped from: https://www.financialexpress.com/money/taxations-rules-for-different-classes-of-income-groups/2477754/ The taxpayers can claim the income tax exemption, which is available on a few of the salary components given either as ‘allowances’ or

Clipped from: https://www.financialexpress.com/money/4-important-changes-in-income-tax-rules-effective-from-1-april-2022/2477511/ A new income tax rule is introduced to provide an opportunity to the taxpayer to include missed or undisclosed income or any other

Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-better-to-pay-30-tax-on-capital-gains-on-crypto-sales-in-fy22-too/2475294/ Budget 2022 clarified that from April 1, 2022, tax at 30% plus cess plus surcharge would be applicable on capital gains from crypto

lipped from: https://www.financialexpress.com/money/income-tax/tax-talk-new-tax-regime-better-for-late-tax-planners/2473160/ If you haven’t made tax-saving investments by March 31, you can’t claim the exemptions. In such a case, opt for the new concessional

lipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-return-not-filed-itr-for-fy-2020-21-you-may-be-liable-for-higher-tds-tcs-from-apr-1/articleshow/90491162.cms Synopsis The law for higher TDS, TCS in case of not filing ITR was announced in Budget 2021 and amended in Budget 2022.

Clipped from: https://www.business-standard.com/article/pf/how-to-respond-to-a-notice-for-reassessment-of-income-u-s-148a-of-i-t-act-122031800579_1.html Check the Relied Upon Documents, or RUDs, on the basis of which the assessing officer has started the reassessment proceedings Photo: Shutterstock The Income Tax Department

Clipped from: https://www.business-standard.com/multimedia/video-gallery/general/not-filed-itr-yet-face-penalty-or-even-jail-term-143846.htm BS Web Team  Last Updated at March 28, 2022 15:25 IST Not filed ITR yet? Face penalty or even jail term The deadline for

Clipped from: https://www.thehindubusinessline.com/todays-paper/deduction-claimed-for-cess-surcharge-to-be-treated-as-under-reported-income/article65257159.ece Tax words on white texture background | Photo Credit: shylendrahoode The Finance Ministry has proposed that deduction claimed for cess and surcharge under

Clipped from: https://www.taxscan.in/no-addition-on-income-when-the-assessee-has-fully-explained-and-substantiated-sources-with-the-documentary-evidences-itat/162901/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Documentary%20Evidence Top Stories By Jwala K.P – On March 22, 2022 3:33 pm The Indore Bench of The Income Tax Appellate Tribunal ( ITAT ) has held that no