Mon, Aug 19, 2024
ITR filing: In cases where discrepancies are found, the department can issue a notice requesting proof of deductions or details about the income source. Failure to provide satisfactory responses could result in additional tax liabilities, penalties, and interest charges for late tax payments. Continued non-compliance might even lead to legal action.
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Sun, Jul 14, 2024
Section 43B(h) of the Income Tax Act reinforces the importance of timely payments by mandating that companies settle payments to MSME vendors within 45 days to qualify for deductions," SME Chamber said in a statement addressed to Sitharaman.
Thu, Jul 04, 2024
Income Tax Saving Tips: For taxpayers under the old tax regime, there are a number of ways to save tax. One of the methods is known as clubbing. Under clubbing provision, one can save tax making investment in your wife's name or depositing money in her account. You can save substantial tax through this procedure.
Wed, Nov 30, 2016
The Lok Sabha on Tuesday passed by a voice vote a bill to amend the income tax laws.
Mon, Nov 28, 2016
The Taxation Laws (Second Amendment) Bill, 2016, proposes to make some changes in the Act.
Tue, Jun 28, 2016
The Centre has declared September 30 as the last date for making a declaration.
Sun, Jun 26, 2016
Government had come out with a similar scheme for Indians holding undisclosed income abroad and a total of Rs 4,147 crore of undisclosed wealth was declared under it.
Mon, May 30, 2016
TDS shall not be deducted in case of transfer of PF from one account to another PF account.
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