The court had on July 21 issued summons to the firm, Maran and Natrajhen and directed them to appear today after taking cognizance of two I-T complaints filed against them.
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 government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
Tax Guru Anil Rego answers your personal income tax queries
The tax authorities have been piling pressure for a long time against Mallya and on Kingfisher Airlines to cough up the dues.
You are all set to file your I-T returns. But have you checked the Form-16 itself for accuracy? Here's how to do it...
Most taxpayers will benefit from being in the old tax regime, assuming they optimise their salary for tax benefits and claim the deductions available to them.
Tax Guru Anil Rego answers your personal income tax queries.
The Income Tax department has trained its scanner on the burgeoning 'e-commerce' business in the country.
Under Section 80D, you can avail of deduction on payment made towards preventive health check-ups.
'We have already given Rs 1.59 trillion to states.' 'So, there is no question of giving them more.'
Employers will now need to furnish detailed break-up of exemptions that an employee has claimed.
Alternative Investment Fund refers to any fund established or incorporated in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign.
You filed your income tax returns for 2017-2018 and think you tax problems are over for now. But have you paid your advance tax this quarter, asks Samkit Maniar.
TDS merely means the bank will pay you the entire interest amount without forwarding the tax on it to the government.
Last year's Budget had created uncertainty about the quantum of tax to be withheld on dividends paid to non-residents, as the exact tax rate was not specified under section 195.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
Tax Guru Anil Rego answers your personal income tax queries.
There are millions of taxpayers, all of whom are susceptible to this frustrating situation.
I-T department raises tax demand on them for unpaid tax deducted at source
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
Pan card has to be submitted for financial transactions. Otherwise, tax burden will go up.
Ensure you don't get benefits that get reversed, while filing returns.
Maran challenged reports that he and another company official have been summoned as accused by a Delhi court in two tax evasion cases
Truckers on Thursday proceeded on a nationwide indefinite strike.
The CBI recently approached the special court in Mumbai for issuance of LoR to conduct a probe to ascertain utilisation of funds received in the US-based bank accounts of Mallya and now defunct Kingfisher Airlines.
Mumbai, which contributes about 30 per cent of country's direct collections, saw the rate of contraction in advance tax collection lower to 20 per cent as against an over 33 per cent decline in Q1.
High volatility in the stock market coupled with falling inflation has brought back fixed deposits as an attractive investment avenue for the investors who are looking for fixed returns.
Income Tax collections are expected to fall short by an estimated Rs 9,000 crore.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
It is very important to maintain your tax record even if you are not in the taxable income bracket as tax return papers are required when applying for a loan
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
The direct tax collection in India went up by 46.9 per cent in April-July to Rs 71,648 crore (Rs 716.48 billion) from Rs 48,756 crore (Rs 487.56 billion) a year ago.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Clearance of dues is a key step in airline's revival.
One has to mention the acknowledgement number and the date of filing of four quarterly returns.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
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