If, as promised, the refunds are done within 24 hours it will obviate one of the biggest reasons that taxpayers distrust the tax department -- delayed refunds especially in cases of large refunds.
Though it may be anecdotal, there are some HR people who cannot reconcile their own salary from a CTC to take home!
Tax payers can now deposit income tax from the bank accounts of any person in addition to credit and debit cards, the Central Board of Direct Taxes said.
Begin by creating a household budget. Involve all family members in the exercise and cut costs wherever possible.
PricewaterhouseCoopers Executive Director Shyamal Mukherjee tells Business Standard that the real changes in the Budget, from the taxation point of view, will be evident in the new tax code the finance minister is developing.
The government has become used to accounting for TDS as its income even though it knows a significant portion needs to be returned as refund
The Enforcement Directorate has filed its first charge sheet in connection with its money laundering probe against Chinese smartphone maker Vivo-India and some others, official sources said on Thursday. The prosecution complaint was filed before the court of Special Judge Kiran Gupta in New Delhi on Wednesday under the criminal sections of the Prevention of Money Laundering Act and Vivo-India has been named an accused apart from those arrested in this case, the sources told PTI. The judge posted the matter for consideration on December 13.
Since employers can't furnish Form 16 in the middle of the year, they give Tax Computation Statement.
E-sports experts say the burgeoning sector will not be affected by the Goods and Services Tax (GST) Council's recent decision to levy a blanket 28 per cent tax on online gaming, which is being viewed by the industry as a death blow to gaming companies.
Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime
Finance Minister P Chidambaram today said innovative search engines were being created to mine information and unearth tax evaders
The window under the Income Declaration Scheme 2016 opened on June 1 and will close on September 30
Unlike Income Tax, service tax is not charged automatically.
The court directed her to intimate to it as well as the Enforcement Directorate at least three days before leaving the country instead of taking prior permission.
Advance tax needs to be paid by all - individuals, consultants, businessmen and salaried.
Have you planned to file your income tax return? But, did you check Form 26AS before tax filing? If you haven't verified it, you could be looking at trouble
India Inc and economic think-tanks want the Budget to tax the agriculture income of large farmers for equity in the system and widening the net.
Business success often involves a combination of planning, implementation, and continuous learning, says rediffGURU Harsh Bharwani.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
It is strange that the wealthy evade taxes even though the marginal utility of the money saved amounts to little and tax rates in countries, including India, have dropped
Vaibhav Aggarwal's Change.org petition has been shared widely on Twitter and Facebook and continues to gather more signatures rapidly.
'For the first month, we have only had 5.5 million who have paid the tax.' '40 per cent have paid nil as tax; 95 per cent of the taxation for the first two months has come from only 400,000 assessees.' 'So even now, the tax-paying habit, of paying a marginal or negligible amount, or not paying anything at all, is quite prevalent,' reveals Finance Minister Arun Jaitley.
Besides being young, one might also have to be a professional or self-employed.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
One of the key issues will be tax exemption sought by the ICC for the future global events in India like the 2021 Champions Trophy and the 2023 World Cup.
It's tax time and you need to know your basics. . .
You had bought a spanking new car last year and are paying interest on it. Can you get tax exemption on interest paid?
rediffGURU Kanchan Rai, founder, Let Us Talk, offers advice on how to navigate problems in a relationship.
Simplification of I-T rules spawns websites that help in tax preparation.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
Bollywood icon Amitabh Bachchan and son Abhishek have been asked by a tax tribunal to pay tax on the 'Versa' car given to them by carmaker Maruti Udyog Ltd as part of their professional fees for endorsing the brand.
Gujarat has topped with a score of 71.14% on ease of doing business list.
Amendments to RBI Act likely soon
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
Meet Sam Zell or the 'Grave Dancer' who made billions using his business acumen.
