SEARCHED FOR:PROFESSIONAL TAX
Tax optimiser: How HRA, NPS can help bring down Rao's high tax to zero tax
Taxspanner estimates that Rao can reduce her tax to nil if her pay structure is rejigged to include some tax-free allowances, her company offers her the NPS benefit and she pays rent to her mother to claim HRA exemption.
Here's what govt's Taxpayers' Charter promises and expects from income tax payers
PM Narendra Modi launched a platform for honouring the hone...
Working from home may prove ‘taxing’: Here's why
As professionals work from home, salary components such as conveyance allowance can no longe...
Income Tax dept backs up PM Modi’s professional tax return claims
The PM had sparked a social media debate after he said that only a very small number Indians were paying tax.
Ambuja Cements narrows valuation gap with large peers
Its total manufacturing cost per tonne of cement fell 2.8% year-on-year to Rs 3,775. This was despite the fact that the company’s revenue fell 26.9% to Rs 2,176 crore.
Financial transactions such as hotel bills, life, health insurance proposed to come under tax lens
In a tweet by mygov.in, which was subsequently removed, the govt has proposed to expand the list of reportable transactions to include domestic business class air travel or foreign travel, payment of property tax above Rs 20,000 per year, life insurance premium above Rs 50,000 and health insurance premium above Rs 20,000.
Tells us how you conduct your business: NFRA asks top professional services firms
The regulator sent a form to the firms seeking details of their client roster, the fees they charge, salaries of partners, money made from non-audit assignments and the qualified opinions they had made during the audit of companies in financial duress.
Here's how the income tax department tracks your financial transactions
The government recently amended the Form 26AS which will show high-value transactions that are conducted by you in the financial year. However, there are other ways in which the tax department can track your financial transactions. Given below are the list of those ways.
UK government tables new 'cheaper, quicker and easier' Health Visa in Parliament
The new visa, welcomed by Indian professional groups, will be launched from August to create a new fast-track visa route designed to attract the best global health professionals to work in the NHS, for NHS commissioned service providers, and in eligible occupations in the social care sector.
Tax non-virginia tobacco to earn Rs 40,000 crore revenue: NGO writes to Centre
The NGO Shram has already written to the Union Finance Minister Nirmala Sitharaman and Health Minister Harsh Vardhan on the issue urging to control the sector keeping in mind public health.
Tax optimiser: Why Pai can save tax only marginally via NPS
You can optimise tax by rejigging your income and investments. In this taxpayer's case, there is scope for further tax reduction if he makes use of all the deductions available.
Income tax department amends TDS form, makes it more comprehensive
Through a notification, the Central Board of Direct Taxes (CBDT) has amended Income Tax Rules to include TDS on e-commerce operators, dividend distributed by mutual funds and business trusts, cash withdrawals, professional fees and interest.
Customs to roll out pan-India faceless assessment for all imports by October 31
"Board has decided to roll out the Faceless Assessment at an all India level in all ports of import and for all imported goods by October 31, 2020," the CBIC said in a circular.
Government's endeavour has been to further simplify Direct Tax laws: Nirmala Sitharaman
In her message on the 160th Income Tax Day, the minister also lauded the department for being responsive to the needs of the taxpayers during this pandemic time by relaxing various compliance requirements and addressing their liquidity concerns.
GST jolt for real estate developers: Paying tax on rent they never got
As per the GST framework, tax has to be paid at the time of raising invoice and not when the actual payment is made.