SEARCHED FOR:PROFESSIONAL TAX
GST intelligence detects Rs 225 crore tax evasion, busts illicit pan masala manufacturers in Indore
The total duty implication in this fraud is estimated to be around Rs 400 crore, the statement issued by the DGGI said.
No justification to deny drug cos deduction of expenses incurred on freebies to doctors: ITAT
A bench comprising judicial member Ravish Sood ...
Tax optimiser: NPS, health insurance can help Kohli save Rs 33,000 tax
Not only should you ask your employer for the NPS benefit, but you sho...
Warren Buffett's annual letter: Takeaways for seamless succession planning for entrepreneurs
Even the smallest enterprise has multiple legal entities. We create them to “save” taxes; fudge expenses through transfer pricing; hive off rents and perks for owners through lazy posts and positions and hide revenues and incomes from the taxman.
Income tax calendar for the year 2020
The income tax department, via its Twitter handle and emails, has been informing taxpayers about the important tax dates for the year 2020. Being mindful of these dates can help taxpayers avoid penal consequences.
Agriculture ministry to share taxpayers' information with I-T dept for PM-KISAN scheme
Affluent farmers have been excluded from the scheme, such as income-tax payers in the previous assessment year, professionals like doctors, engineers, lawyers and chartered accountants who also do farming and pensioners drawing at least Rs 10,000 per month.
TDS, TCS rates cut to put cash in your hand but your tax liability remains same
A reduction in TDS, TCS rates does not mean reduction in the tax liability of the receivers of these payments/incomes.
Deductions, exemptions not available in proposed new tax regime
All deductions under chapter VIA will not be claimable by those opting for the new tax regime, as per Budget 2020.
I-T dept disposes 7,116 assessments under first phase of faceless scrutiny
In the first phase of faceless assessment, a total of 58,319 cases were assigned in an automated way randomly and these were kept away from the geographical jurisdiction of the case, based on computer algorithms.
One fund, two benefits – Saving tax & Growth potential
It is that time of the year when many of us struggle to make investments into products that help save tax. For those of us who are yet to do it, this may be ...
Govt gives relaxations to taxpayers for GST compliance for filing annual returns and audits
In a notification dated May 5, the Central Board of Indirect Taxes and Customs (CBIC) has allowed registered persons to furnish GSTR-3B verified through electronic verification code between April 21 and June 30. This was not permitted earlier.
How will income earned from professional services abroad be taxed in India?
According to the Income-Tax Act, people residing in India are subject to tax in India for their global income and such income will be taxed in India.
Govt mulls mediation to solve tax issues with companies
Mediation will allow taxpayers to get a fix on how much they need to pay and avoid disputes.
Income tax return filing deadline for FY 2019-20 extended to Nov 30, 2020
As announced by the government in a press conference, the due date for all income-tax return (ITR) for FY 2019-20 has been extended from July 31, 2020, and October 31, 2020, to November 30, 2020, and tax audit from September 30, 2020 to October 31 2020.
81% employers feel new income-tax regime not to benefit staff: Survey
While organisations will have to look for innovative nudges to ensure that employees save voluntarily, it will also create a complex task at hand while negotiating for a better rate for these benefits with the vendors.