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The tax department clarifies that filing income tax returns will not be blocked even if PAN is inoperative, but there are other consequences to keep in mind.
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Moving overseas may be appealing—but tax residency and laws of Indian income continue to matter.
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As of now, 98,915 taxpayers in Karnataka are registered under the composition scheme. The department has also warned traders against discontinuing digital payment modes like UPI in response to recent notices.
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Senate version of "One Big Beautiful Bill" would remake US immigration, tax, and welfare policy and reduce climate and education programmes.
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To boost exports, Centre had on May 26 restored the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme benefits for SEZs and other export-centric hubs, with effect from June 1.
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Block has said that if India wants to attract foreign capital, it needs to change tack
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The Sovereign Gold Bond (SGB) scheme was introduced to steer Indian investors away from physical gold purchases and reduce the country's gold import bill. However, the government’s failure to hedge against rising gold prices has resulted in mounting liabilities, turning the SGB scheme into an expensive financial misstep.
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We will keep India’s interest in mind during negotiations with the US, said Sitharaman
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For taxpayers who pay GST quarterly, the due date has been extended to January 24 and January 26, depending on the state-wise registration of the business.
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This campaign also targets individuals who have taxable income or significant high-value transactions reported in their AIS but have not filed ITRs for the respective years.
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Indian firms operating in Switzerland will have to pay a 10-percent tax on dividends and other incomes from January 1, 2025, higher than the earlier rate of 5-percent.
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The Centre’s demand for a larger chunk in the devolution pie could very well be at crosshairs with states, with some seeking a hike in their stakes in the divisible pool of taxes to as much as 50 percent
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) Voters remain largely divided over whether they prefer Republican Donald Trump or Democrat Kamala Harris to handle key economic issue.
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The Atlanta beverage giant said it will continue to fight and believes it will win the legal dispute stemming from taxes and interest the IRS maintains the company owes from 2007, 2008 and 2009.
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Filing your ITR is mandatory unless your income is below the threshold limit of 2.5 lakh for FY23-24. Failing to file your ITR by the stipulated time can lead to not-so-pleasant consequences like Penal Interest, Late Fees & Even Imprisonment. Watch this video to find out who all need to file for ITR and what are the repercussions in case you don't.
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In an era where joint families are no longer the norm and even in nuclear families couples prefer to keep finances separate, combining it in a HUF can lead to grief later on
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The government had announced the membership of the Arvind Panagariya-led 16th Finance Commission on January 31
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Chief Minister Siddaramaiah claimed that Karnataka is the second-highest in the country in tax collection after Maharashtra with an annual contribution of Rs 4.3 lakh crore but is getting less than Rs 44,000 crore a year as the state's share
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With barely a week to go for the Interim Budget 2024, the Confederation of Indian Industry or CII has released a list of key proposals that they would like Finance minister Nirmala Sitharaman to consider. From proposals aimed at reshaping the country's economic landscape to recommendation of establishing a comprehensive Ministry of Investment, the industry body has made several suggestions to the FM. Watch to know what else is part of their proposal
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Weighing in on the debate of a simpler GST, Lakshmikumaran & Sridharan Founder and Managing Partner V Lakshmikumaran said that while we all applaud the advent of the GST, we must also realise that the law that has been written cant be understood by the people at large.
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The tax authority last month said that food delivery is a service and, therefore, Zomato and Swiggy are liable to pay GST on service at a rate of 18 percent
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The 16th Finance Commission will cover a period of five years starting April 1, 2026 and make its report available by October 31, 2025
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The upcoming budget is a vote on account and has given the departments time to look into indirect taxation processes and assess the need to streamline them.
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Miami wants to attract even more out-of-state workers and wealthy newcomers like hedge fund tycoon Ken Griffin. But first, County Mayor Daniella Levine Cava faces a huge environmental problem: overflowing garbage heaps and septic tanks.
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In its response, the finance ministry said that in a bid to make the process of filing returns more tax-payer friendly and less time-consuming, it is working on introducing a common ITR form by merging all the existing forms except ITR 7.
