Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Atul Subhash, who worked for a private firm in Bengaluru, left behind a 24-page death note, giving extensive details of what he alleged was years long of emotional distress of marital issues; multiple cases filed against him and harassment by his wife, her relatives, and a judge based in Uttar Pradesh, police said.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
'File all the supporting documents in response to the allegation since there is a possibility of the proceedings getting dropped at that stage if the reply is satisfactory.'
Returns for income earned till FY12-13 can be filed till March 31.
Amit Gupta examines the taxation of dividend-paying stocks, share buybacks, and bonus shares.
Assessment year 2020-2021 saw returns filed fall to 69.7 million and stood at 71.4 million in assessment year 2021-2022.
Now that income tax returns can be filed online, should you go for it? Tax expert Mahesh Padmanabhan answered this and other tax-related queries in a chat with Get Ahead readers.
Can't believe you can file your income tax return without Form 16? Read this...
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
Online tax filing in 2010-11 was 91.57 lakh, compared to 51.06 lakh in 2009-10.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Before you file your income tax return this year, have a look at the amendments that might help you take the most possible tax benefit.
First things first: For those wondering if they need to reapply, the answer is no.
Online food delivery aggregator Zomato on Wednesday said it has received a GST demand order along with interest and penalty amounting to Rs 17.7 crore from the Assistant Commissioner of Revenue, West Bengal. The demand order, received by the company on Tuesday, is with respect to non- payment of GST on delivery charges and interest, penalty thereon.
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
New ITR forms indirectly force small businesses to maintain books of accounts, something that wasn't needed earlier, says Anupam Jain.
Persons and entities who have faced search or survey proceedings by the income tax department "in any previous year" will no longer be allowed to file updated tax returns. Earlier, it was proposed that an updated tax return cannot be filed, in case of search or survey proceedings in the relevant financial year and the preceding one.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
If an ITR is not filed or the tax due is not paid on the deceased person's behalf, there can be penal consequences.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
You don't need to be intimidated by the thought of filing tax returns
Even if your only source of income is salary and the tax has been deducted at source, you need to file returns.
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
Investmentyogi.com provides the income tax slab rates for FY 2009-10 (corresponding to Assessment Year 2010-2011).
While movie stars like Akshay Kumar, Amitabh Bachchan and Salman Khan are among the top I-T payers, very few of the wealthiest Indians figure on the list.
British broadcaster BBC has communicated to the income-tax department that some of its past income, for its operations in India, could have gone unreported during the statutory filing of returns and hence it would like to amend it, official sources said on Wednesday.
The bench was hearing a Public Interest Litigation (PIL) challenging the State Government's decision to retrospectively reduce the rate of police protection provided during the IPL matches. The PIL was filed by RTI Activist Anil Galgali.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
Mumbai, which adds 37 per cent to the total direct tax mop-up, has reported tax collection of Rs 4.93 trillion so far, against the full-year target of Rs 5.35 trillion.
"If a film Kashmir Files is made, then at least, there should also be film 'Lakhimpur Files', where farmers were crushed under the wheels of a jeep," the SP president told journalists in Sitapur district on Wednesday when asked for his opinion on the Bollywood movie.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
The bench allowed the rejoinder affidavit to be filed by petitioners in two weeks thereafter and posted the matter for final hearing in January, 2025.
Aadhaar-based electronic verification code will do away with need to send physical ITR-V copies to I-T centre
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