Tue, Dec 17, 2024
How to save tax: With the right strategy and investment, anyone can save up to Rs 8 lakh in income tax. Here are 10 effective ways that will not only help you keep more of your income but also support your financial planning.
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Thu, Dec 12, 2024
Food delivery aggregator Zomato on Thursday said the GST department in Thane has imposed a tax demand of Rs 803.4 crore, including interest and penalty. The demand order has been received in respect of non-payment of GST on delivery charges with interest and penalty thereon, Zomato said in a regulatory filing.
This year-on-year surge showcases not only the capacity of the system but also the proactive engagement of taxpayers in adhering to filing deadlines.
Mon, Feb 18, 2019
Currently, Income tax rates for salaried employee below 60 years of age - stands NIL on below Rs 2.5 lakh income, 5% between Rs 2.5 lakh to Rs 5 lakh income, 20% between Rs 5 lakh and Rs 10 lakh income and 30% above Rs 10 lakh income.
Sat, Feb 16, 2019
Income Tax Return filing 2019: While you prepare to file your income tax return, you should also keep in mind the important dates.
Wed, Feb 13, 2019
The Income Tax department has initiated scrutiny of as many as 20,874 refund claims for 2018-19 and action will be taken against persons found to be involved in any malpractices.
Income tax refund claims: Suspicious income tax refund claims have gone up in last three years and scrutiny assessments have been initiated against taxpayers claiming high refunds inconsistent with the pattern of income and investments, Parliament was informed Tuesday.
Tue, Feb 12, 2019
In a major crackdown on black money and hawala transactions, the Income Tax (IT) Department has detected Rs 18,000 crore bogus billings in the national capital, officials said on Monday.
Mon, Feb 11, 2019
Income Tax planning can be a pain. There is no denying the fact that millions of Indians fail to plan their taxes in advance and end up paying a large part of their hard earned money to the taxman.
The Payment of Gratuity has been in effect since March 2018, and is an important social security legislation to wage earning population in industries, factories and establishments.
Sat, Feb 09, 2019
The Income Tax proposals announced in Interim Budget 2018 has provided a big opportunity to middle-class taxpayers to make the most of their hard-earned money.
Income tax return filing consists of a form that needs to be filled properly and honestly. However, if an ITR is not filed then you are in trouble as the Income Tax department will impose various penalties on you.
Fri, Feb 08, 2019
Tax planning for your wealth management should start with regular savings and investment into various instruments that can create wealth in the long run.
In FY18, there was 20% surge in undisclosed income to nearly Rs 10,767 crore. In fact, the income tax department has carried out various investigations to look into this serious matter.
The Supreme Court has made it mandatory to file the Income Tax returns with Aadhaar card and has asked people to get it linked with their PAN cards before March 31, but the numbers are not rising.
In the interim budget, Finance Minister Piyush Goyal announced direct income support of Rs 6,000 per year to 12 crore small and marginal farmers holding cultivable land up to 2 hectare.
Thu, Feb 07, 2019
The Income Tax rules provide relief to salaried employees by not making a large part of the House Rent Allowance (HRA) fully taxable.
Income Tax Payer, ITR Filers alert! Is it mandatory to link Aadhaar with PAN for non taxpayers? This is the question that keeps doing the rounds on internet search as there was lot of confusion over this. Now, the Supreme Court has cleared all the confusion.
Income Tax Return (ITR) filing: According to section 192A, payment of accumulated balance of provident fund which is taxable in the hands of an employee.
Tax payers are now preferring alternate methods of grievance redressal, like Centralised Public Grievance Redress and Monitoring System, and Aaykar Seva Kendras.
According to the Budget document placed in Parliament, the government has not raised the exemption limit for taxpayers from Rs 2.5 lakh to Rs 5 lakh, but has just made changes in the tax rebate under Section 87A of the Income Tax Act.
Tue, Feb 05, 2019
If you fail to reveal your income and pay taxes, you may have to face penalties and even imprisonment from 6 months to 7 years, along with penalty under various sections of the Income Tax Act.
Mon, Feb 04, 2019
Sanjay Agarwal, Partner, TASS Advisors explains if Budget 2019 live up to the expectations on direct taxes front.
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