The move comes at a time when the department is analysing data on deposits of cancelled currency notes after demonetisation
A committee under CBDT is working to chalk out the broad parameters for extending such "courtesies" and benefits to taxpayers who pay their taxes on time and in full
IT officials had conducted searches at Raghav Bahl's residence and office on October 11
A committee has been set-up under the Central Board of Direct Taxes to draw up a scheme which will encourage a habit of compliance with tax rules
As per I-T law, interest payable by an Indian company or a business trust to a non-resident, including a foreign company, on rupee denominated bond issued outside India before the July 1, 2020, was liable for concessional rate of tax of 5 per cent.
Realty players in many cases are avoiding payment of and penalty by showing cash as ‘loans’ without submitting adequately substantiating the deal.
On August 30, the second last day of filing the income tax return (ITR), over 20 lakh returns were filed.
The lender has cited demonetisation and Operation Clean Money as the reasons behind the estimated considerable increase in the number of income tax returns filed.
CBDT has extended the due date for furnishing IT returns from August 31 to September 15, 2018 for all assessees in Kerala
A new direct tax code may involve change in rates and slabs that will require amendments in the Finance Bill, which is unlikely to happen in an election year when an outgoing government usually presents only an interim budget/vote on account
The statement said that all officers of the Indian Revenue Service (IRSS) Association will contribute at least one day's salary towards the disaster relief for the affected people of Kerala.
Donations to the Kerala Chief Minister's Distress Relief Fund have also been exempted from income tax.
Walmart will deduct $1.5-2 billion as taxes before issuing cheques to SoftBank, eBay, Naspers and Flipkart’s co-founder Sachin Bansal.
There is no separate statute in the law book detailing tax norms for cryptocurrencies, but the law is clear on taxing income irrespective of the form in which it is received
The I-T department has notified several new tax return forms which are applicable for the financial year 2017-18.
If you wait till the last minute to file your returns, you may commit mistakes in a hurry and will have to file a revised return. There are several amendments for the AY19. To be on the right side of the norms, take a look at some important changes to ensure an error-free filing well within the July 31 deadline
As tax filing deadline inches closer, you may be rushing to collate all your documents to file your returns. But sometimes despite being very careful, we can commit mistakes that can land us in trouble with the tax department. By keeping these points in mind, you can ensure a hassle-free tax filing for yourself
The new ITR form 1 (Sahaj) requires the individual assessees to provide detailed calculation in case of salary & house property income.
After filing your income tax returns, you need to get your ITR-V verified. Earlier, this was a days-long process but taxpayers can now e-verify it in minutes
The July 31 deadline to file income tax returns is fast approaching. To ease down the process and reduce the complexity in filing returns, the tax department has introduced several new features. Here are five reasons why you should not hesitate to file ITR on your own
Don’t forget to verify ITR after E-Filing through ITR-V. ITR-V is the Income Tax Return – ‘Verification’ Form.
A separate chapter has been dedicated to widening of the tax base, with region-wise target for new tax filers.
Filing your income tax return and paying the tax you are due to pay are two different responsibilities and both have to be discharged appropriately
Selection of the right form is vital as choosing the wrong form will make your return invalid.
Here is how you should choose the right ITR form to file your income tax returns.