If you have not yet filed an ITR for the 2022-2023 financial year, you can file a belated return.
The income tax department has allowed non-resident taxpayers not having PAN to file Form 10F manually till March 31, 2023, a move which would ease their compliance burden and enable them to claim lower TDS rate. The Central Board of Direct Taxes (CBDT) had in July made it mandatory for non-resident taxpayers to file Form 10F electronically to claim benefit of lower Tax Deducted at Source (TDS). However, taxpayers faced problems in electronic filing of the form as the income tax portal did not allow a taxpayer who does not have a Permanent Account Number (PAN) to file Form 10F.
It was a year of so many contradictions and contrasts that it became dangerous to talk about movies, people lost their heads discussing Friday releases, psychiatrists began dabbling in film criticism, and film critics turned into psychiatrists, says Sreehari Nair.
Investors who decide to enter medium to long-duration funds should be cognisant of the risk.
Fund managers often find themselves selling bonds at prices below their fair value to meet redemption demands. Investors are the ultimate losers in this. CDMDF aims to remedy this by stepping in and purchasing securities at their fair value in such times.
Through a revised return, you can make changes to your ITR and even end up paying lower tax.
Swastika's father Sandeep, who is also her coach-cum-training partner, has been rendered jobless for more than four months and is finding it difficult to pay the rent for the house they are staying in at Navi Mumbai.
During a sale, many store windows invite the shopper with impossible-to-miss visuals announcing '50% Discount'. Only upon entering does the shopper realises that the one rack which fulfils this promise sells items she'd never purchase.
Begin by creating a household budget. Involve all family members in the exercise and cut costs wherever possible.
The Central Board of Direct Taxes (CBDT) has proposed a new common income-tax return (ITR), with greater focus on disclosing income from virtual digital assets or crypto assets and foreign equity and debt instruments held by resident Indians. For non-resident Indians, the draft ITR seeks exhaustive details ranging from nature of business, permanent establishment (PE), business connection, whether the entity has significant economic presence (SEP) in India, along with the number of users in India. The ITR protocol for NRIs could widen the scope of the SEP principle that was introduced in the Finance Bill 2018-19, and the explicitly defined 'business connection' to include provision of download of data or software, if aggregate payments from such transactions exceed a prescribed amount, or if a multinational's interaction is with a prescribed number of users.
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
Employees should review the accuracy and completeness of the information provided in Form 16. They should confirm that all the tax deducted has been credited correctly.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
You finally end up with an army of midgets led by midgets, notes Sandeep Goyal.
Seven Olympic and six Paralympic disciplines were identified for support at a meeting of the Mission Olympic Cell.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
This was Shorey's highest first-class score in 45 matches, with his previous best being 145. The double-century will do more good to his already healthy batting average of 48.49.
Khalid Jamil also created history by becoming the first Indian to coach three or more league games and guide a side to the playoffs.
Around 96 per cent bystanders in the national capital are reluctant to help road accident victims with serious injuries as they fear that they would be subjected to legal hassles and mistreatment by police, said a study.
Hiten Dalal scored a brisk 79 on debut before Himachal Pradesh fought back to reduce Delhi to 305 for eight at stumps on day one of a Group B Ranji Trophy match, in New Delhi, on Monday.
A summary of Ranji matches played on Tuesday.
The new amendment, which came into force on April 21, has been introduced to detect discrepancies between the expenses and incomes of people who do not have to file tax returns.
The returns from liquid funds, currently, look better than what savings accounts of leading banks are offering, points out Sarbajeet K Sen.
India added three unicorns per month in 2021 to nearly double the overall number to about 85 at last count. And there are many gazelles and cheetahs in the pipeline. All gunning to be unicorns (and then decacorns) soon thereafter, notes Sandeep Goyal.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The dominance of Saurashtra's bowlers could be gauged from the fact that Himachal lost their first seven wickets for just 22 runs.
Credit card spends jumped 57 per cent year-on-year (YoY) in September, aided by the festive season. According to the latest Reserve Bank of India (RBI) data, in September, credit card spends totalled Rs 80,477.18 crore compared to Rs 77,981 crore in August, thereby registering a 3.2 per cent growth sequentially, despite the high base. In the corresponding period last year, credit card spend was to the tune of Rs 51,356.68 crore.
Workers of tomorrow will have to figure out how to help themselves transition to different career pathways, predicts Sandeep Goyal.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Shaw continued from his unbeaten 240 from overnight and brought up his triple ton.
Will the beard continue to be in vogue once WFH wraps up? asks Sandeep Goyal.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Shetty-Kundra's grand Diwali party!
