“We certainly hope to cross the Rs 11.5 lakh crore direct tax collection target for the current fiscal,” Chandra told reporters.
A $1/barrel increase in oil prices, translates in a revenue of Rs 1,513 crore to all major (19) states, according to a SBI research note
The last date for filing the annual return form for normal taxpayers (GSTR-9) and for composition taxpayers (GSTR-9A) is December 31. The GST, which subsumed 17 different indirect taxes, was rolled out on July 1, 2017.
On August 30, the second last day of filing the income tax return (ITR), over 20 lakh returns were filed.
The Congress had earlier demanded an apology from Prime Minister Narendra Modi for allegedly lying to the country, after the RBI said 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system.
Experts are of the opinion that the GST architecture should not be tampered with as it will lead to demands from other states as well
In case you fail to file your income tax return by August 31, you can still file the same by March 31, 2019 and not beyond that
A recent ruling of the Andhra Pradesh High Court has held that boarding and lodging allowances paid to employees deputed abroad for meeting personal expenses is taxable as a perquisite and the employer is liable to deduct tax
The pension you get from the employer at retirement is taxed under the head salaries while filing Income Tax Returns.
Here’s what you need to know about revised returns.
The entities are suspected of evading GST by under-reporting the value of the funds transferred for customers.
All personal income which is liable to tax as per the Income Tax Act, triggers advance tax obligation. These include rental income, interest income, etc.
This article aims to detail various deductions/exemptions that one can claim as per the provisions of The Income-tax Act, 1961 in case such deductions have not been claimed in the Form 16 issued by the employer
Senior Treasury officials said the regulations are intended to provide everything pass-through owners need to comply with the Republican Tax Cuts and Jobs Act
Here are the common income tax notices and what actions to take upon receiving them
The meeting will consider all aspects of GST, with focus on laws, simplification of policy, reducing compliance burden and technology-related issues affecting the MSME sector.
Here are a few factors involved to locate a fund which will fulfill your savings requirement in a holistic manner.
The tax department processes millions of requests every year, making it difficult for officers to parse through the paperwork and investigate whether the said goods conform to the category under which exemption is claimed.
ELSS are diversified equity mutual funds that invest a major chunk of your money in equity and equity-related securities.
The Central Board of Direct Taxes (CBDT) has extended the due date for filing of Income Tax Returns from July 31, 2018, to August 31, 2018, for certain categories of taxpayers.
The I-T department has notified several new tax return forms which are applicable for the financial year 2017-18.
Tax authorities have notified seven ITR forms for FY 2017-18 (assessment year 2018-19) and you must know which one to submit
As per the order passed by the National Anti Profiteering Authority in the Flipkart case, the Director General of Audit of the Central Board of Indirect Taxes and Customs (CBIC) will conduct audit of all major e-platform companies and submit its findings to the authority.
"Tax collection is best achieved by voluntary compliance. One of the prime drivers for voluntary compliance would be lower tax rates. Lower the rate, lower is the incentive to evade taxes as the cost of evasion would not be commensurate with the cost of compliance," he said.
The new ITR form 1 (Sahaj) requires the individual assessees to provide detailed calculation in case of salary & house property income.