New Delhi and Washington have agreed to count the benefits of a global agreement on taxation from the next financial year. However, the benefits would actually accrue once the global pact comes into effect or March 31, 2024, whichever is earlier, in the form of credit.
However, the extension leaves the salaried taxpayers with a limited time-frame of just 20 days to file their income tax returns.
The e-filing website of the I-T department would now provide a facility to pre-validate bank account details.
Facing flak over its decision to impose tax at the time of withdrawal on 60 per cent of the contributions to Employees' Provident Fund, the government on Tuesday clarified that only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
The Supreme Court-appointed Special Investigations Team on black money has also proposed that holding more than Rs 15 lakh in cash be made illegal for individuals and for companies, report Tinesh Bhasin and Sanjay Kumar Singh.
The government can seek details from sellers such as sources of funds while buying.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
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