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...
The Income Tax department has trained its scanner on the burgeoning 'e-commerce' business in the country.
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.
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.
Employers will now need to furnish detailed break-up of exemptions that an employee has claimed.
Tax Guru Anil Rego answers your personal income tax queries.
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.
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.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
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.
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
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.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
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.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
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
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.
'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.'
Clearance of dues is a key step in airline's revival.
Without accounting for refunds, however, the collection contracted 5.4 per cent, indicating muted economic activity as the Covid-19 pandemic and subsequent curbs paralysed most sectors.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
One has to mention the acknowledgement number and the date of filing of four quarterly returns.
It is always adivsable to file income tax returns on time.
Many direct taxation rules lack clarity and the rulings on these also differ from case to case.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
I-T officials say many lawyers, CAs, consultants, designers have not filed their TDS
We take the opportunity to bust a few myths
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