Tag: Tax

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Good news for taxpayers! Last date extended for filing...

Taxpayers can submit the filings that were due on April 1 or later till the end of May or until the last date specified in the notice....

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Penalties likely on not completing these PPF, NPS, tax-related...

In case of post office recurring deposit, the monthly contribution has to be deposited before the fifteenth day of the month for accounts...

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Govt backs merger of 2 tax slabs in GST

The central government is in favour of merging the goods and services tax (GST) rates of 12% and 18% into a single slab

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In case of double taxation, you can get DTAA benefit

There will be no income tax implications in India on the transfer of funds from your NRO account to your brother’s NRO account

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Haven’t filed ITR? Now, pay more TDS

There are existing provisions that provide for deduction of TDS or TCS at higher rates in case of non-furnishing of PAN card The new...

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Avoid paying tax on salary or FD interest twice, Tax treaties...

A double tax avoidance agreement (DTAA) is a treaty that India signs with another country to help non-resident Indians (NRIs) living...

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Taxpayers who had done high value transactions in FY19...

Taxpayers who filed tax returns and did a high-value transaction in FY2018-19 but an equivalent didn't reflect in their ITR, are becoming...

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5% tax on foreign fund transfer from October 1

Indian students studying abroad, Indian tourists going abroad and Indian investors investing in stocks, bonds, and property abroad...

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Employer's contribution to EPF, NPS over Rs 7.5 lakh proposed...

The employer's contribution over Rs 7.5 lakh in a fiscal to retirement funds is proposed to be made taxable.

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Golden Opportunity for Tax Payers to Verify Previous Income...

Forget to verify your previous year tax returns? Don’t worry because CBDT has come up with a Golden Opportunity for those taxpayers...

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PM Modi launches Transparent Taxation platform

Over the years, the income tax department has carried out several major reforms, including reduction in the corporate tax. The ‘Transparent...

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Tax payers get two months extra for filing FY19 income...

CBDT invoked the powers given under the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance brought out in March...

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CBDT to launch e-campaign to ask certain taxpayers to file...

CBDT said that under the e-campaign the taxpayers will be able to access details of their high value transaction related information...

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5 tax saving options other than Section 80C

From saving for your retirement to keeping your family protected from medical bills, these tax-saving avenues are a perfect mix of...

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How much tax do you pay on your investment?

The Budget 2020 has not made too many changes to taxes, except the abolition of DDT. Here is a look at the various taxes that apply...

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5 changes in income tax, personal finance rules effective...

In view of the Covid-19 crisis, Finance Minister Nirmala Sitharaman in March this year had announced a number of relief measures for...

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GST Return filing date extended, relief from late fee.

The government has already waived late fee for any delay in filing GSTR-3B from February to June, 2020 to reduce compliance burden...

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Govt refunds ₹26,000 crore to 1.6 million taxpayers

The government has expedited the process of clearing tax refunds to improve payers’ liquidity amid an unprecedented lockdown that...

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