Mar 27, 2015 at 11:00 | Source: Moneycontrol.com
Though there is a provision to deduct tax at the source of income, one must assess this tax position. Despite TDS, one may have to pay tax, if his tax rate is higher than the rate of TDS. One may also claim tax refund if TDS rate is higher than his tax slab rate.
Mar 03, 2015 at 16:50 | Source: PTI
A total of 44,07,193 non-filers for assessment year 2013-14 who are expected to file their tax returns by March 31, the closing date for fiscal 2014-15, are on the radar of the I-T department. "Over 44 lakh filers have potential tax liabilities.
Feb 28, 2015 at 15:47 | Source: Moneycontrol.com
Despite no apparent mention of income tax incentive for the common man, finance minister Arun Jaitley provided certain reliefs, that will put extra cash in hands.
Feb 28, 2015 at 08:58 | Source: IBNLive.com
Income tax slabs have always been the most awaited section of the Budget. With the economy showing signs of recovering from the slowdown, speculations are rife if Jaitley will raise the slabs giving a relief to the tax payers across the spectrum.
Feb 26, 2015 at 20:45 | Source: PTI
At the same time, as part of streamlining the GST base, the service tax net could be broadened further by removing some services from exempt/abatement list," it said in a note Today.
Feb 10, 2015 at 17:03 | Source: Moneycontrol.com
Fixed income investors have to realign their investment strategy in FY2015-2016 as interest rates begin downward journey. Investors will be better off choosing investment options such as mutual funds, bonds, fixed deposits based on their tax slabs and risk taking ability.
Dec 16, 2014 at 17:14 | Source: Moneycontrol.com
Very often no tax deducted at source (TDS) is taken to mean no-tax liability, which is a big mistake. Individuals have to include interest paid to them without deducting tax at source to their taxable income. On the total income so arrived, they are supposed to pay income tax depending on their income tax slab.
Aug 22, 2014 at 17:44 | Source: PTI
KV Chowdary, Chairman of CBDT said the net income tax collection during the first four months stood at over Rs 1.51 lakh crore after accounting refunds of nearly Rs 54,000 crore
Jul 21, 2014 at 12:26 | Source: PTI
The government estimates to garner Rs 13.64 lakh crore from both direct and indirect tax collection during the current fiscal. During 2013-14, tax collection fell short of target by a whopping Rs 77,000 crore.
Jul 15, 2014 at 16:10 | Source: Moneycontrol.com
Tax slab increased to Rs. 2.5 Lakhs for citizen and Rs 3 lakhs for senior citizen. Income earned by an individual is chargeable to tax as per the slab they fall in. Individuals below the age of 60, exemption limit was previously Rs. 2 Lakhs which has been increased to Rs. 2.5 Lakhs.